Labor Committee Approves Tax Fix for Employers
This week, the Labor Committee approved a proposal that will help employers by making Connecticut’s withholding tax policy consistent with those in neighboring states.
Currently, Connecticut employers are caught between conflicting tax laws with New York and Massachusetts and face penalties because of that conflict. SB 1032 will allow employers to withhold income tax for another state, which they cannot now do–but are required to by the other states’ laws.
SB 1032 straightens out the problem without impacting Connecticut state revenues or employees’ tax liabilities. CBIA and the business community appreciate the support of the committee in this effort.
For more information, contact CBIA’s Bonnie Stewart at 860.244.1925 or firstname.lastname@example.org.
EXPLORE BY CATEGORY
Stay Connected with CBIA News Digests
The latest news and information delivered directly to your inbox.