Effective October 1, 2026, Connecticut has replaced its multi-tiered, potency-based cannabis excise tax with a single flat rate of 10.75% of gross receipts on all adult-use cannabis retail sales. Under the prior structure, retailers calculated tax on a per-milligram-of-THC basis across three product
Connecticut has long offered research and development tax credits to C corporations through the corporation business tax. Now, for the first time, the state has extended a targeted R&D credit to qualifying pass-through businesses. Signed into law by Governor Lamont
Connecticut recently enacted two significant changes to its corporation business tax that may affect how businesses compute their state tax liability and, in some cases, may create additional tax obligations for prior years. These changes were enacted as part of
In September 2025, the Internal Revenue Service (IRS), jointly with the Department of the Treasury, issued its Priority Guidance Plan (“Plan”) for the 2025-2026 fiscal year. In this Plan, the IRS signaled its intent to issue “[g]uidance on the application
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
