On June 12, 2023, Connecticut Gov. Ned Lamont signed the budget bill (H.B. 6941), which includes three notable tax provisions: (1) an extension of the corporation business tax (CBT) surcharge for three years; (2) changes to the pass-through entity (PTE) tax; and (3) a reduction in personal income tax rates. Corporation Business Tax Surcharge Extended H.B. 6941 extends the CBT surcharge from income tax years beginning before January 1, 2023, to those beginning before January 1, 2026.
