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CT SB00076
Bill
Status
Introduced
2/14/2024
Primary Sponsor
Ryan Fazio
Click for details
AI Summary
- Reduce personal income tax marginal rates by 2 percentage points for unmarried individuals and married individuals filing separately with federal adjusted gross income under $100,000
- Reduce personal income tax marginal rates by 1.5 percentage points for those with federal adjusted gross income between $100,000 and $250,000
- Reduce personal income tax marginal rates by 1 percentage point for those with federal adjusted gross income of $250,000 or more
- Apply proportional tax rate reductions to heads of household and married individuals filing jointly based on income thresholds
- Allow taxpayers eligible for Section 179 asset expense deductions to claim the entire deduction in a single year instead of apportioning it over five years
Legislative Description
An Act Reducing The Personal Income Tax Marginal Rates For Certain Taxpayers And Concerning The Asset Expense Deduction For Corporations.
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding
2/14/2024
Committee Referrals
Finance, Revenue and Bonding2/14/2024
Full Bill Text
No bill text available