Malloy Announces $900 Million Tax Windfall
Submitted by johnmurray on Mon, 01/08/2018 - 16:10Governor Dannel P. Malloy today announced that collections of estimated personal income taxes in December and January will exceed the administration’s projection by more than $900 million. The payments include normal estimated payments, one-time payments based on repatriation of foreign profits in advance of a December 31, 2017 federal deadline, and accelerated payments that would normally have been received later in January or in April 2018 in order to avoid the new federal cap on state and local tax deductions that began on January 1.