Each November, in accordance with state statute, the Connecticut General Assembly's Office of Fiscal Analysis produces a Fiscal Accountability Report. According to statute, the report must explain: (1) the level of spending changes from current year spending allowed by consensus revenue estimates, (2) any changes to current year spending necessary because of “fixed cost drivers,” and (3) the total change to current year spending required to accommodate fixed cost drivers without exceeding current revenue estimates.
Tax incidence is a method of analysis that examines the impact of taxation. The tax incidence report from Connecticut's Department of Revenue Services (DRS) examines the impact of taxes on Connecticut households, analyzes the "results of the interplay of tax impacts," and provides an overview of Connecticut's tax environment.
In accordance with state statute, every other year, the Connecticut General Assembly's Office of Fiscal Analysis produces a report on the state's tax expenditures, which are defined as exemptions, exclusions, deductions, or credits that result in less tax revenue to the State or municipalities than they would otherwise receive.
Following most legislative sessions, Connecticut's Department of Revenue Services releases a Special Notice detailing legislation that was passed that impacts the state's sales and use tax. These Special Notices summarize each relevant piece of legislation as well as provide the date for when each piece goes into effect.
Following most legislative sessions, Connecticut's Department of Revenue Services releases a Special Notice detailing legislation that was passed that impacts the state's personal income tax. These Special Notices summarize each relevant piece of legislation as well as provide the date for when each piece goes into effect.
Following most legislative sessions, Connecticut's Department of Revenue Services releases a Special Notice detailing legislation that was passed that impacts the state's corporation business tax. These Special Notices summarize each relevant piece of legislation as well as provide the date for when each piece goes into effect.