CT HB07008

Creates a 6% tax credit against Connecticut income tax for research and development expenses paid or incurred by pass-through entities during the taxable year

Allows shareholders of S corporations, partners in partnerships, and owners of single-member LLCs to claim the credit on their individual returns

Caps the total tax credits at $5 million per fiscal year across all taxpayers

Authorizes the Commissioner of Revenue Services to adopt regulations implementing the credit

Effective January 1, 2026, applying to taxable years beginning on or after that date