Connecticut Revenue Department Issues 2023 Legislative Summary Discussing Various State Tax Developments

The Connecticut Department of Revenue Services July 1 issued a summary of certain legislation enacted during the 2023 session of the state assembly, for individual income, corporate income, sales and use, property, and excise tax purposes. The legislative changes include: 1) a 49.2 cents per gallon tax rate on diesel fuel for the fiscal year that runs from July 1, 2023, through June 30, 2024; 2) the income tax rate on the first $10,000 earned by unmarried individuals and the first $20,000 by couples decreases to 2 percent from 3 percent; 3) the tax rate on the next $40,000 earned ...