Marking End of a Bitter Political Battle, Connecticut Governor Signs Long Awaited Budget Bill
After months of political deadlock, Governor Dannel Malloy signed into law a bi-partisan budget bill. The Governor used his line-item veto to reject a new taxing arrangement on hospitals, but signed into law the bulk of a new, two-year state budget. What follows are the enacted tax changes by category.
Following a national trend, Connecticut has gone after an easy target: sins. Under the legislation, the state will raise the cigarette tax by 45¢ per pack. It will also impose a 10.5% gross receipts tax on fantasy sports contests.