taxes

City of Hartford

There's a public hearing Monday on a plan that would use money generated by a state tax to help pay off the debt for the new minor league baseball stadium in Hartford. But the governor doesn't know much about it, and the state senate Republican leader is opposed to the plan.

DoNo Hartford LLC

The city of Hartford wants state tax dollars to help pay back the loans on its new $60 million minor league baseball stadium built for the team that's now in New Britain, and there's a measure at the capitol to get it done. But not everyone is convinced it's a good idea. 

Sorin Popa/iStock / Thinkstock

The state has eliminated its sales tax on certain non-prescription medicines. The change will eliminate taxes on over-the-counter items like antacids, cough syrup, and pain medication. It also gets rid of the sales tax on dietary supplements and vitamins.

Ken Teegardin/SeniorLiving.Org / Creative Commons

There's a potential financial windfall waiting for thousands of Connecticut taxpayers. 

U.S. Sen. Richard Blumenthal said Friday that he's learned there is $13.4 million worth of unclaimed tax refunds from 2011 owed to Connecticut taxpayers. 

Health and Wellbeing / Creative Commons

Nobel prize winning economist Robert Shiller says the Fed has a very tricky job when it begins to signal a rise in interest rates. Shiller, who teaches at Yale, told WNPR’s Where We Live that there’s no historical precedent for the lengthy period of low interest rates that we’re living through. 

Chion Wolf / WNPR

Already facing shortfalls in the budget he presented last month, Governor Dannel Malloy said Wednesday that it’s now in the hands of state lawmakers.

“The law is very clear, the budget I have to present is balanced, and it is balanced. We’ve met our legal requirement,” Malloy said, speaking on WNPR’s Where We Live.

When people without health insurance get around to filing their taxes this year, they may find that they have to pay a penalty. State officials are working on a fix. 

The Affordable Care Act mandates that everyone have insurance or face a fine. Last year was the first year the penalty applied, but some people may not know they owe it until they prepare their 2014 taxes -- and it's already too late to sign up for health insurance for 2015.

Chion Wolf / WNPR

Governor Dannel Malloy released the final details of his new two-year state budget on Wednesday. 

The Democrat has already warned that the budget is going to be “tough,” but he hopes it will provide relief to the state’s middle class with a slight state sales tax reduction. Republicans have been critical of his additional plan to eliminate the an exemption to the sales tax on up to $50.00 of clothing.

The new fiscal year beginning July 1 is predicted to face a $1 billion deficit. The following budget year is also facing a projected $1 billion in the red. 

On WNPR's Where We Live, Keith Phaneuf of The Connecticut Mirror called the governor's budget "a tired exercise in fiscal semantics." Promised cuts aren't coming, he said, and the governor is creating "a new definition of a tax hike" while still trying to say he "didn't really increase taxes." 

Mixed Bag for Gov. Malloy's Budget Proposal

Feb 17, 2015
Sage Ross / Creative Commons

In preparation for his two year state budget proposal, Governor Dannel Malloy has warned Connecticut residents the budget is "tough."

During an interview with WFSB-TV's "Face the State" broadcast on Sunday, Malloy said he will be proposing to reduce the state sales tax from 6.35 percent to 6.2 percent on November 1, then dropping it to 5.95 percent by 2017.

Connecticut Senate Republicans

Connecticut's Republican legislators proposed a 30-year, $37.4 billion plan to fund a proposed overhaul of the state's transportation system on Tuesday. They'd like to do it without resurrecting tolls.

The announcement comes a week before Democratic Governor Dannel Malloy will present his two-year budget and transportation initiative.

Both Senate and House Republicans proposed dedicating a set amount of bonds to be used solely for transportation projects, starting with $441.5 million in fiscal year 2016. That would complement the approximate $600 million in bonding already spent annually for transportation.

A huge trove of leaked documents is shedding new light on the secretive Swiss banking industry.

The documents were downloaded by a former computer security expert at the giant bank HSBC, and they were released over the weekend by the International Consortium of Investigative Journalists.

Ben Sheldon / Creative Commons

Governor Dannel Malloy has proposed major improvements to Connecticut's transportation infrastructure.

In the past, Malloy argued that the state gas tax could cover such costs, but the rise in fuel-efficient cars has meant a decline in revenue. How to fund transportation projects remains a question.

Speaking on WNPR's Where We Live, Speaker of the House Brendan Sharkey said the gas tax is unfair to Connecticut residents.

When President Obama meets with House Democrats tonight during their retreat in Philadelphia, officials say he'll lay out the details of his budget proposal, which will include reversal of large cuts to federal spending instituted in 2013.

Are you thinking about tax day yet? Your friendly neighborhood tax preparer is. IRS Commissioner John Koskinen declared this tax season one of the most complicated ever, partly because this is the first year that the Affordable Care Act will show up on your tax form.

Tax preparers from coast to coast are trying to get ready. Sue Ellen Smith manages an H&R Block office in San Francisco, and she is expecting things to get busy soon.

"This year taxes and health care intersect in a brand-new way," Smith says.

The Internal Revenue Service on Tuesday began accepting tax returns electronically, and paper returns will begin to be processed at the same time. In a statement, the IRS reminded taxpayers that filing electronically is the most accurate way to file a tax return and the fastest way to get a refund.

Alan Cleaver / Creative Commons

Connecticut's wealthiest residents pay a smaller share of their income in taxes than low- and middle-income households, according to a new report from the Connecticut Department of Revenue Services.

Rep. Michael Grimm, the New York Republican who won re-election despite being indicted on 20 criminal counts related to a restaurant he owns, pleaded guilty to one charge of felony tax evasion Tuesday. He'll be sentenced in June; calls for him to leave Congress began Tuesday morning.

Grimm, a former FBI agent who represents Staten Island and south Brooklyn, had previously pleaded not guilty to charges that included mail fraud and perjury.

New property tax rates have been set in Springfield, Massachusetts.  For the first time in many years, the rates for both homeowners and business property owners have been reduced, as property values continue to recover from the Great Recession

In what The Associated Press called a "final flurry of accomplishment" Tuesday night, lawmakers were able to push through a bill that extended a package of tax breaks, which had expired at the end of 2013, and confirmed 12 more judicial nominees. NPR's Ailsa Chang reported the confirmations also marked a big accomplishment for the Obama administration.

Gasoline prices are at their lowest level in four years. The price at the pump in many states is almost a full dollar cheaper than it was last spring.

So some politicians think this is a good time to raise gasoline taxes. Several states are tired of waiting for Congress to fix the federal highway trust fund, so they're considering raising gas taxes themselves to address their crumbling roads.

Here's a fact that might surprise you: All of the top 10 U.S. companies that were born on the Internet — including Google, Amazon and eBay — have overseas corporate headquarters in Ireland.

The American tech sector is huge in Ireland. It's growing rapidly — and having a huge impact on life there.

But the tax system that's fueling the growth is also infuriating some people in the U.S. and Europe — and has Ireland reconsidering its tax code.

A City, And Country, Transformed

Chion Wolf / WNPR

Governor Dannel Malloy's budget chief says he plans to adhere to his boss's campaign promise not to raise taxes in Connecticut's new two-year state budget.

Chris Potter / Creative Commons

Governor Dannel Malloy and Republican challenger Tom Foley have repeatedly said they will not raise taxes. After dropping out of the race as a petitioning candidate, Joe Visconti said it just can't happen.

"I don't know how we can cut enough, even if the legislature agreed with it, and mothball enough programs for us not to have some form of a tax increase unless we grow completely out of it in a miracle situation," Visconti told WNPR.

Tim Cook / The Day

Gov. Dannel Malloy and Republican challenger Tom Foley may not be trying to make people like them, but they're trying to make the other guy look worse. Now, that Connecticut has the "least positive" race in the nation and the candidates remain in a dead heat in the polls. Malloy told WNPR earlier in the week that he isn't the most lovable guy. Meanwhile, reporters keep asking for Foley's state tax returns and he keeps refusing to hand them over.

Toronto Public Library

Our beloved New England is filled with scenic coastlines, lobster pots and clam shacks, Green Mountains, White Mountains, and a long river valley filled with Yankees who take their long winters as a point of pride. We have history and culture all right here.

Pratt and Whitney

U.S. Senator Chris Murphy said that in the past seven years, the Pentagon has spent more than $160 billion of taxpayer money on foreign-made goods. He’s accusing the defense department of abusing legislation that requires it to buy American.

Flickr Creative Commons, Tax Credits

Connecticut’s tax code comes under scrutiny on Monday as the state’s new tax panel meets for the first time.

Connecticut Conference of Municipalities

A new report by The Connecticut Conference of Municipalities says the state remains the most reliant in the nation on the property tax to fund pre-K to 12 public education. 

YouTube

A Republican political action committee has launched a TV ad attacking Governor Dannel Malloy's tax policies. 

Doug Kerr / Creative Commons

Josh Solomon, the owner of the minor league New Britain Rock Cats, has paid the city $164,569.26 in back taxes for its baseball stadium, the city said in a press release.

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