On April 13, the Massachusetts House of Representatives approved H.3770, a tax reform bill that includes significant changes for individuals, businesses and estates. The bill is now with the Senate’s Ways and Means Committee,...more
5/12/2023
/ Apportionment ,
Capital Gains ,
Capital Gains Tax ,
Corporate Taxes ,
Estate Tax ,
Income Taxes ,
Pending Legislation ,
State Budgets ,
State Taxes ,
Tax Credits ,
Tax Planning ,
Tax Reform
Through no fault of the Connecticut General Assembly, in late 2017 our newly increased Connecticut estate and gift tax exemptions were partially affected by the 2017 Federal Tax Act, commonly known as the Tax Cuts and Jobs...more
Until the passage of the 2017 Tax Cuts and Jobs Act, the federal applicable exclusion amount for the estate of a person dying in 2018 was scheduled to be $5.6M. The federal applicable exclusion amount sets (i) the applicable...more