Bill > SB00742

This bill proposes to establish a capital gains surcharge for high-income taxpayers in Connecticut by amending the state's tax statutes. Specifically, the bill would impose an additional tax of 1.75% on net gains from the sale or exchange of capital assets (such as stocks, bonds, or real estate) for taxpayers whose Connecticut adjusted gross income meets or exceeds the threshold for the state's highest and second-highest marginal tax rates. This means that individuals with higher incomes would pay an extra 1.75% tax on capital gains, effectively increasing their tax liability for significant financial transactions involving investment assets. The surcharge is targeted at those with the highest income levels, potentially generating additional revenue for the state while placing a slightly higher tax burden on wealthier taxpayers.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00742&which_year=2025