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Bill > HB05186
CT HB05186
CT HB05186An Act Concerning The Affected Business Entity Tax And The Credit Related Thereto And Establishing A Surcharge On The Amount Of Federal Qualified Business Income Deductions Claimed By Certain Filers.
summary
Introduced
02/11/2026
02/11/2026
In Committee
02/11/2026
02/11/2026
Crossed Over
Passed
Dead
Introduced Session
2026 General Assembly
Bill Summary
To (1) establish a surcharge on the affected business entity tax and adjust, for certain personal income tax marginal rates, the amount of the credit allowed against said tax, and (2) establish a surcharge on the amount of the qualified business income deduction claimed for federal income tax purposes by filers subject to the highest marginal rate under section 12-700 of the general statutes.
AI Summary
This bill proposes changes to Connecticut's tax laws, specifically targeting the Affected Business Entity Tax and introducing a new surcharge on federal qualified business income deductions. The bill will add a one percent surcharge to the Affected Business Entity Tax, which is a tax on certain business entities. It also adjusts the credit available against this tax: filers in the highest personal income tax bracket will see their credit reduced to 83.6%, while those in the three lowest income tax brackets will have their credit increased to 93.01%. Furthermore, the bill establishes a new ten percent surcharge on the amount of the qualified business income deduction claimed for federal income tax purposes, but this surcharge only applies to filers who are in the highest personal income tax bracket. The qualified business income deduction is a deduction for owners of pass-through businesses, like partnerships and S-corporations, on their federal income taxes.
Committee Categories
Budget and Finance
Sponsors (35)
Patrick Biggins (D)*,
Kevin Brown (D)*,
Marcus Brown (D)*,
Brandon Chafee (D)*,
Mike Demicco (D)*,
Jason Doucette (D)*,
Josh Elliott (D)*,
Kate Farrar (D)*,
Mary Fortier (D)*,
Nicholas Gauthier (D)*,
Jillian Gilchrest (D)*,
Bob Godfrey (D)*,
Ken Gucker (D)*,
William Heffernan (D)*,
Susan Johnson (D)*,
Eleni Kavros DeGraw (D)*,
Sarah Keitt (D)*,
Maryam Khan (D)*,
Roland Lemar (D)*,
Geoff Luxenberg (D)*,
Rebecca Martinez (D)*,
Treneé McGee (D)*,
Nicholas Menapace (D)*,
Amy Morrin Bello (D)*,
Anthony Nolan (D)*,
Corey Paris (D)*,
Kara Rochelle (D)*,
Kaitlyn Shake (D)*,
Michael Shannon (D)*,
Travis Simms (D)*,
Derek Slap (D)*,
Laurie Sweet (D)*,
Gary Turco (D)*,
Steven Winter (D)*,
Gary Winfield (D),
Last Action
Referred to Joint Committee on Finance, Revenue and Bonding (on 02/11/2026)
bill text
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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=HB05186&which_year=2026 |
| BillText | https://www.cga.ct.gov/2026/TOB/H/PDF/2026HB-05186-R00-HB.PDF |
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