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CT HB05690

Bill

Official Source

Status

Introduced

1/18/2023

Primary Sponsor

Jill Barry

Click for details

Origin

House of Representatives

2023 General Assembly

AI Summary

  • Amends Chapter 229 of Connecticut's General Statutes to eliminate mandatory personal income tax withholding requirements for payers of retirement and investment distributions
  • Removes withholding requirements for distributions from profit-sharing plans, stock bonuses, deferred compensation plans, and individual retirement arrangements
  • Eliminates withholding requirements for payments from endowments, life insurance contracts, pension payments, and annuity distributions
  • Introduced by Rep. Barry (31st District) by request and referred to the Committee on Finance, Revenue and Bonding

Legislative Description

An Act Concerning The Deduction And Withholding Of Personal Income Tax From Certain Payments And Distributions.

Last Action

Referred to Joint Committee on Finance, Revenue and Bonding

1/18/2023

Committee Referrals

Finance, Revenue and Bonding1/18/2023

Full Bill Text

No bill text available