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CT HB05087
Bill
Status
2/15/2022
Primary Sponsor
Geoffrey Luxenberg
Click for details
AI Summary
HB 5087 Summary
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Reduces personal income tax rate from 5% to 4% for individual taxpayers with adjusted gross income over $10,000 but not over $50,000
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Reduces personal income tax rate from 5.5% to 5% for individual taxpayers with adjusted gross income over $50,000 but not over $100,000
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Increases personal income tax rate from 6.99% to 8.99% for individual taxpayers with adjusted gross income over $500,000
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Reduces personal income tax rate from 5% to 4% for married taxpayers filing jointly with adjusted gross income over $20,000 but not over $100,000
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Reduces personal income tax rate from 5.5% to 5% for married taxpayers filing jointly with adjusted gross income over $100,000 but not over $200,000, and increases the rate from 6.99% to 8.99% for those with income over $1,000,000
Legislative Description
An Act Adjusting Personal Income Tax Rates For Taxpayers Above And Below Certain Income Thresholds.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
2/15/2022