• 2012 Connecticut Tax Developments
  • October 16, 2012 | Authors: Raymond J. Casella; Ryan V. Leichsenring; Alan E. Lieberman; Louis B. Schatz; Margaret R. Solis
  • Law Firm: Shipman & Goodwin LLP - Hartford Office
  • Despite facing a projected $200 million deficit for the current fiscal year, Governor Malloy stood by his promise not to raise taxes further on Connecticut taxpayers after last year’s historic tax increases. The projected deficit, however, curtailed any attempt to provide tax relief to Connecticut businesses or individuals, or to enact new tax incentives to promote job growth in the state. The result was a very quiet legislative session as it related to taxes, a welcome relief to many taxpayers after a series of tumultuous years.