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Connecticut
By the Numbers

Connecticut Below is a snapshot of key features of Connecticut's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $26.2 billion
  • General Revenue as a Share of Income: 13.5%
  • Tax Revenue: $21.4 billion
  • Tax Revenue as Share of income: 11.1%
  • Personal Income Tax (Share of Tax Revenue): 26.9% (9 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 2.4 % ( 33 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 25.1 % ( 43 out of 51)
  • Property Tax (Share of Tax Revenue): 42.0 % ( 9 out of 51)
  • Other Taxes (Share of Tax Revenue): 2.7 % (45 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: 3.0% - 6.7%
  • Standard Deduction: None
  • Personal Exemption: $13,000 ($24,000 for Married Couples) Max
  • Dependent Exemption: None
  • Earned Income Tax Credit (EITC): 25% Refundable
  • Standard deduction phases out for high income levels
  • Personal exemption is available as a credit
  • Benefit of bottom 3% rate phases out for higher income levels and additional benefit recapture in place.
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 7.50%, 20% surcharge on some corporations through 2015
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 25%
  • Apportionment Factor (Property): 25%
  • Apportionment Factor (Sales): 50%
  • Apportionment Note: Some corporations can elect to use single weighted sales formula
Sales Tax Features (2012)
  • State Sales Tax Rate: 6.35%
  • Average Local Sales Tax Rate: N/A
  • Average Combined State & Local Sales Tax Rate: 6.35%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: N/A
  • Number of Services Taxed: 79 out of 168 surveyed (2007). In 2011, added an additional 12 services to the base.
  • Streamlined Sales Tax Membership: No
  • "Amazon law" in effect
  • Sales tax holiday offered in 2013
  • Sales tax applies to digital goods and services at lower 1% rate
Property Tax Features (2012)
  • Does not provide a homestead exemption.
  • Provides means-tested income tax credit to offset property taxes.
  • Levies a car tax.
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.493
  • Diesel Tax Rate (per gallon): $0.549
  • Cigarette Tax Rate (per pack): $3.40
  • Estate or Inheritance Tax: Yes
  • Net Lottery Sales Per Capita: $263 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes
  • Tax Incidence Analysis Capability: None

Last Updated October 4, 2012

Sources & Glossary