CT HB06443

Establishes a wage compensation tax program effective January 1, 2022, imposing a 5% tax on employers for electing employees earning over $40,000 annually, with employees receiving a 95% tax credit and deductions for Roth IRA contributions

Creates a consumption tax on residents with federal adjusted gross income of $500,000+ at rates of 0.7% to 1.5% depending on income level, and a digital advertising tax of 2.5% to 10% on companies with global revenues of $100 million or more

Establishes the Connecticut Equitable Investment Fund to receive revenues from new taxes, cannabis taxes, and online wagering, managed by a nine-member council to invest in underserved communities, reduce income inequality, and support venture capital

Increases the state earned income tax credit from 23% to 40% of the federal credit, creates a child tax credit of $300-$600 per child (up to three children) phasing out at higher incomes, and expands pension/annuity income exemptions for those under income thresholds

Authorizes online lottery ticket sales for draw games, imposes a highway use tax on commercial vehicles over 26,000 pounds starting January 2023, replaces the ambulatory surgical center tax with a sales tax structure, and establishes a tax amnesty program from November 2021 to January 2022