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Filename CT_Taxes-WP.pdf
Filesize 2 MB
Version 1
Date added January 14, 2021
Downloaded 1423 times
Category COVID, Economic Opportunity, Massachusetts Economy, White Papers

By Andrew Mikula and Greg Sullivan

Date: January 2021

Connecticut’s embrace of an aggressive tax policy to pay for ballooning government expenditures — including a sharp corporate tax rate increase — has been a major driver in the loss of bedrock employers. Higher corporate tax rates, combined with hikes in the personal income tax and, especially, the estate tax, also appear to be a factor driving away a growing number of the state’s wealthiest residents.