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.
Day Pitney Trusts and Estates Attorneys Andrew M. Nerney and Grant W. Silvester authored the article, "U.S. Appeals Court: Deathbed Checks Are Includible in Decedent's Estate," for WealthManagement.com, which discusses a recent ruling by the U.S. Court of Appeals in the Third Circuit on deathbed gifting.
Day Pitney Private Client Department Senior Associate Claire N. Carrabba authored the article, "The Tax-Saving Potential of Gifts and Sales to Family Trusts," for WealthManagement.com.
Day Pitney Environmental Partners Kirstin Etela and Todd Terhune were featured in the Connecticut Law Tribune article, "ESG Builds New Avenues in Environmental Law for Day Pitney," profiling the firm's ESG practice.
Day Pitney Multistate Tax Practice Chair Scott Clark authored the article, "Changing Domicile For Tax Purposes Is Beneficial If Done Correctly," for Family Wealth Report.
Day Pitney Press Release
Day Pitney Press Release
In May 2023, Day Pitney represented a state pension fund in connection with a $1 billion investment in an open-ended "fund of one" formed by an asset management company focused on acquiring below investment-grade broadly syndicated loans through an intermediate bankruptcy remote holding company.
Day Pitney Advisory