CT HB05600

Commissioner of Revenue Services shall study the potential tax implications of allowing companies to organize as benefit limited liability companies under Connecticut state law.

Study shall evaluate what other states have done with benefit limited liability companies, whether such organization ability improves Connecticut's tax competitiveness, and whether it may attract benefit corporations from surrounding states.

Study shall project revenue gains and losses associated with allowing benefit limited liability companies in Connecticut.

Commissioner shall submit a report to the joint standing committees on finance, revenue and bonding and commerce by February 1, 2020, summarizing evaluation results and including any recommendations.