Got Something to Say About State Taxes?

Got Something to Say About State Taxes?

taxburden

What needs to be done to improve Connecticut’s state tax policy?

This month, state residents have an excellent opportunity to offer their ideas to a panel that’s specifically studying the issue.

The State Tax Study Panel is evaluating the current state tax code and has scheduled a public hearing on Wednesday, Sept. 16, from 4-8 pm in Room 2E of the Legislative Office Building in Hartford.

Co-chaired by former State Sen. William Nickerson and former State Rep. William Dyson, the panel is comprised of 13 other members consisting of accountants and experts in the fields of tax, economics and finance.

A report from the panel is due to the legislature by January 2016.

To meet that deadline, the panel is looking for specific ways to improve state tax policy. Subjects they’re looking for feedback on at the hearing include:

  • Sales and use tax
  • Estate and gift taxation
  • Personal income tax
  • Property tax
  • Tax exempt properties
  • PILOT
  • Business personal property taxation
  • Personal tangible property
  • Real estate conveyance and controlling interest transfers
  • Local option taxes

Connecticut residents annually pay an average $7,115 in state and local taxes, or 26% more than the national average.

The financial site WalletHub ranks the state 47th in the country for its state and local tax burden. Only Rhode Island, Wisconsin, Nebraska, and Illinois ranked below Connecticut.

And, when adjusted for the cost of living, Connecticut fell to last among the 50 states and the District of Columbia.

You can provide your ideas to the panel in person at the hearing, or send them to the panel electronically (in PDF format) to fintestimony@cga.ct.gov.

Click here for more information about how to testify.