Tax & Accounting Blog

Update: Potential Connecticut Sales Tax Increase

Indirect Tax, ONESOURCE, Sales and Use Tax April 26, 2011

Connecticut Governor Dannel Malloy has been overhauling his plan for hiking taxes in the state throughout the course of the week. As part of the overhaul we are likely to see the idea of raising the state sales tax rate excluded. With his plan scheduled for review late this week, it will be worth watching to see if the tax increase indeed stays out of the proposal. The increase received quite a bit of opposition on the grounds that it would likely drive consumers away and have a more adverse effect on the state’s economy than a positive one.