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Area Development - Site Selection, Facility Planning and Workforce Development

Connecticut Basic Business Taxes 2012

Connecticut's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include tax incentive programs, a corporate income tax, and a sales tax.

2012
Corporate income tax:
The corporate income tax maximum rate is 7.5 percent.

Sales tax:
The state sales tax is 6.35 percent.

Property tax:
Tax on real and tangible property is levied by municipalities, which assess property for local tax purposes at 70 percent of actual value. There are no county taxes. Tax abatements are offered in cooperation with state business assistance programs.

Tax incentive programs:
The state has developed an extensive range of tax incentive programs to assist companies in expansion and relocation. These tax programs include sales tax exemptions, corporate income tax abatements, and tax credits for incremental tax financing.

Connecticut State Contact:
Connecticut Business Response Center
805 Brook Street, Building 4
Rocky Hill, CT 06067
(800) 392-2122

Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.

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