Connecticut retailers now face two overlapping sales tax developments this summer: a temporary, one-week expansion of the state’s back-to-school sales tax holiday, and a separate, permanent exemption for nonelectronic school supplies that applies year-round.
On June 18, 2026, the Internal Revenue Service released Notice 2026-40, announcing Treasury’s intent to issue proposed regulations implementing the amendments to the Qualified Opportunity Zone (QOZ) rules enacted as part of the One, Big, Beautiful Bill Act (OBBBA). The
On June 16, 2026, the Connecticut Supreme Court unanimously rewrote the playbook for estate tax domicile disputes. In Daniels v. Commissioner of Revenue Services, SC 21150, the Court held that an estate challenging the Department of Revenue Services’ (“DRS”) residency determination
On December 18, 2025, President Trump issued an executive order, “Increasing Medical Marijuana and Cannabidiol Research” directing the U.S. Attorney General to reclassify cannabis from a Schedule I controlled substance to a Schedule III controlled substance under the Controlled Substances
As is commonly known, one of the significant provisions of the Tax Cuts and Jobs Act of 2017, was to place a limit on the ability of taxpayers to deduct their state and local taxes (“SALT”). One of the responses by
On July 1, 2025, Governor Ned Lamont signed into law Public Act No. 25-173, titled An Act Concerning Energy Affordability, Access and Accountability. This legislation introduces a new municipal tax targeting certain large-scale solar photovoltaic systems.
Effective Date:The new tax provisions will
The One Big Beautiful Bill Act (OBBBA) introduces sweeping reforms to the Qualified Opportunity Zones (QOZs) program, aiming to refine its scope, enhance its impact, and improve transparency. These changes, many of which take effect after December 31, 2026, reshape
On February 5, 2025, Governor Ned Lamont released his proposed fiscal year 2026 and 2027 biennial budget. Included within the proposed budget (the “Proposal”) are the following proposed tax changes to Connecticut’s tax system (all of which can be found in
The most recent wave of ERISA litigation is focused on the use of plan forfeitures in 401(k) plans, with the newest case, Armenta v. WillScot Mobile Mini Holdings Corp. being filed just last week. Although, for years, many defined contribution plan documents
On Friday, November 1, the IRS announced the retirement plan limits that will take effect on January 1, 2025. Most notably, the annual contribution limit for participants in 401(k), 403(b), and governmental 457 plans was increased to $23,500, up from $23,000. The catch-up
