Ct income tax brackets 2021 full#

Source: Tax Policy Center, 'State Cigarette Taxes, 2017,' accessed October 26, 2017Ĭorporate income tax See also: Corporate income taxĬonnecticut levies a corporate income tax rate of 9 percent. State cigarette taxes, 2017 (in cents per pack) Revenue in these states is generated from various taxes, fees, price mark-ups, and net liquor profits.'Ģ'General sales tax applies to on-premise sales only.' Source: Tax Policy Center, 'State Motor Fuels Tax Rates 2000-2011, 2013-2017,' accessed October 26, 2017Īlcohol excise tax rates, 2017 (in dollars per gallon)ġ'In 17 states, the government directly controls the sales of distilled spirits. Fuel excise tax rates, 2017 (in cents per gallon) The tables below provide excise tax rates for motor fuel, alcohol and cigarettes in Connecticut and neighboring states. The cost of the tax is then included in the sale price of the item and passed on to the consumer. In most cases, the excise tax is paid by the producer or seller of an item. Excise taxes are considered indirect taxes because they are not charged directly to individuals. Source: Tax Policy Center, 'Sales Tax Rates 2000-2017,' accessed October 26, 2017Įxcise taxes, also known as selective sales or differential commodity taxes, are levied for the sales of specific goods or services. The table below summarizes sales tax rates for Connecticut and neighboring states in 2017 as well as the state's policy with respect to types of items commonly exempted from sales tax (i.e., food, prescription drugs and nonprescription drugs). Source: The Tax Foundation, 'State and local sales tax rates, 2017,' accessed October 26, 2017

Ct income tax brackets 2021 full#

Note: For full annotations, see the source below. The table below displays the state tax rates, average local tax rates, and average combined tax rates for Connecticut and its neighboring states. The state did not levy any local sales taxes, meaning that the total sales tax was 6.35% percent. Additionally, many states allow the levying of local sales taxes, which are then added to the state's tax.Ĭonnecticut's state sales tax was 6.35% percent in 2017. Source: Tax Foundation, 'The High Burden of State and Federal Capital Gains Tax Rates,' accessed October 26, 2017Īlmost all states employ a statewide sales tax, which ranges from 2.9 percent in Colorado to 7.25 percent in California. Uppermost capital gains tax rates by state, 2015 The table below summarizes uppermost capital gains tax rates for Connecticut and neighboring states in 2015. While the federal government taxes capital gains at a lower rate than regular personal income, states usually tax capital gains at the same rates as regular income. Capital gains are taxable at both the federal and state levels. Examples of capital assets include stocks, businesses, land parcels, homes, personal items and more. Personal exemptions, 2017Ĭapital gains tax See also: Capital gains taxĪ capital gains tax is a tax levied on the profit gleaned from the sale of a capital asset. The state exemptions for Connecticut and its neighboring states as reported by the Tax Policy Center are reported in the chart below. Both state and federal taxes allow exemptions. Įxemptions work by reducing the amount of an individual's taxable income. The personal exemption indicates that only a person's income above a certain level is subject to taxation. States that collect a personal income tax allow individuals to claim personal exemptions on income taxes each year. Source: Tax Policy Center, 'Individual State Income Tax Rates 2000-2017,' accessed October 26, 2017 Note: For complete notes and annotations, please see the source below. State Income Tax of 5% on Dividends and Interest Income Only The table below summarizes personal income tax rates for Connecticut and neighboring states in 2017. A tax bracket is the income range to which a tax rate applies. An individual's tax liability varies according to his or her tax bracket. Tax rates Personal income tax See also: Personal income taxĬonnecticut utilized a personal income tax rate ranging from 3 percent to 6.99 percent in 2017. If you would like to help our coverage grow, consider donating to Ballotpedia. This article does not contain the most recently published data on this subject. Effect of the Affordable Care Act in Connecticut.Oil and gas extraction on federal land in Connecticut.Ballot access requirements for presidential candidates in Connecticut.Ballot access requirements for political parties in Connecticut.Ballot access requirements for political candidates in Connecticut.Campaign finance requirements for Connecticut ballot measures.Campaign finance requirements in Connecticut.