Connecticut – Task Force to Review Business Tax Credits

SALT Report 1341 – Connecticut Governor Dannel Malloy has signed an executive order that will create a nine-member task force to review Connecticut’s business tax policies in an effort to improve current policy and to promote business development and growth.  The task force is jointly headed by the Department of Economic and Community Development and the Department of Revenue Services and will do the following:

  • Establish a work plan to identify specific tax areas including business tax credits and other forms of business tax relief that will be the focus of future state economic policy
  • Evaluate the cost, benefit, efficiency, effectiveness and measurable performance of the current business tax credit structure with respect to economic development, business retention and growth, and employment retention and growth, and
  • Report all findings and recommendations to the governor by October 1, 2012
Governor Malloy has already eliminated several sales tax exemptions and tax credits for certain businesses and it’s likely more will be eliminated after the task force completes its works in October.
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