ASC tax on the chopping block in Connecticut

The Connecticut legislature’s one-year, $24.2 billion state budget will eliminate ASC taxes by July 1, law firm Garfunkel Wild said May 6. 

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The law, signed by Gov. Ned Lamont May 9, according to WTNH, will remove both a gross receipt and net revenue tax. 

Under current law, ASCs are taxed 6 percent each quarter. The original tax was slated to transition from a gross receipts tax to a tax of 3 percent on net revenue on July 1, 2023. 

 

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