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Bill > SB00428
CT SB00428
CT SB00428An Act Restoring The Rate Of The Credit Against The Affected Business Entity Tax.
summary
Introduced
01/10/2025
01/10/2025
In Committee
01/10/2025
01/10/2025
Crossed Over
Passed
Dead
06/04/2025
06/04/2025
Introduced Session
2025 General Assembly
Bill Summary
To restore the rate of the credit against the affected business entity tax to ninety-three and one-hundredths per cent.
AI Summary
This bill aims to restore the rate of the credit against the affected business entity tax (ABET) to 93.0% in Chapter 228z of the general statutes. The Affected Business Entity Tax is likely a specific type of business tax in Connecticut, and this bill proposes to return the tax credit rate to a previous level of 93.0%, which suggests the credit rate had been reduced at some point prior to this legislation. By restoring the credit rate, the bill would provide a more favorable tax treatment for certain businesses, potentially helping to reduce their overall tax burden and potentially supporting business economic activity in the state.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding (on 01/10/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00428&which_year=2025 |
| BillText | https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-00428-R00-SB.PDF |
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