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CT SB00006
Bill
Status
1/4/2017
Primary Sponsor
Finance, Revenue and Bonding Committee
Click for details
AI Summary
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Fully exempts Social Security benefits from Connecticut's personal income tax by allowing subtraction of the entire amount of Social Security benefits includable for federal income tax purposes.
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Replaces the previous tiered exemption system that provided full exemptions only for lower-income taxpayers (unmarried individuals under $50,000 AGI, married filing jointly under $60,000 AGI) and partial exemptions (75% of benefits) for higher-income taxpayers.
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Effective July 1, 2017, and applies to taxable years commencing on or after January 1, 2017.
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Amends section 12-701(a)(20)(B) of the general statutes regarding adjustments to Connecticut adjusted gross income.
Legislative Description
An Act Exempting Social Security Benefits From The Personal Income Tax.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
4/20/2017