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On April 21, 2011, the Finance, Revenue and Bonding Committee of the Connecticut General Assembly reported out of committee a number of bills implementing Gov. Malloy's tax proposals. A summary prepared by the Office of Fiscal Analysis indicates that Senate Bill No. 1007 would repeal the current exemption from Connecticut Sales and Use Tax for the "containment or removal of hazardous waste or other contaminants," effective July 1, 2011. Section 20 of Senate Bill No. 1007 amends CGS Section 12-407(a)(37)(I)'s definition of services to industrial, commercial or income-producing real property within the scope of CGS Section 12-407(a)(2)(I) sales subject to sales and use taxes. This proposed amendment eliminates the existing exclusion for "any such services rendered for the voluntary evaluation, prevention, treatment, containment or removal of hazardous waste ... or other contaminants of air, water or soil ... ."
This bill also increases the Sales and Use Tax from its current 6% rate to 6.35%, effective July 1, 2011.
The ABA recently published the 25th Edition of The Property Tax Deskbook.
Day Pitney Partner Dina Kapur Sanna was a panelist on the session, "Where Should I Locate My Structures?," at the Transcontinental Trusts International Virtual Conference.
Due to the COVID-19 pandemic, this year's annual Day Pitney Palm Beach Family Office Forum, which had originally been scheduled for April 28 and 29, has been postponed to hopefully be rescheduled for later this year.
Day Pitney Press Release
Day Pitney Press Release
Glenn Rybacki gives an in-depth summary on what domicile is and the preparations necessary for a potential audit in "Domicile Changes and Audits Increase in Connecticut," his latest entry in State Tax Notes.
On May 8, Amy Lonergan was a panelist on a webinar, "COVID-19 and Election Year Wealth Transfer Strategies," hosted by the Family Wealth Alliance.