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Published 1 year ago

Governor Lamont Proposes Increasing Tax Credit for Small Businesses

Summary by Ground News
Gov. Ned Lamont will propose to the legislature next month a provision boosting the state's pass-through entity tax credit. The move will enable business owners to claim about $60 million more in tax deductions, he announced Wednesday. The tax, passed in 2018, was designed as a benefit for the business owners it impacts, allowing them to claim state and local tax deductions.

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