HARTFORD, Conn. (AP) — Accountants, former state legislators and experts in tax law, economics and finance are trying to find ways to modernize Connecticut’s tax system, while making it more fair, equitable and stable.
The State Tax Panel has just embarked on a yearlong review after being created by the General Assembly earlier this year.
The last time Connecticut had such a major tax study was 1991, when the state enacted a personal income tax. The study also comes as Connecticut continues to face budget challenges.
The group is scheduled to meet next month. While members are still determining their focus, co-chairman William Nickerson predicted the state’s heavy reliance on the income tax will be one of many issues reviewed.
Connecticut has one of the highest per capita tax burdens in the country.