Connecticut HB05444 adjusts personal income tax thresholds and exemption amounts to account for inflation.

Connecticut HB05444 modifies the state's personal income tax system by indexing certain tax thresholds and exemption amounts to inflation. Starting from October 1, 2026, the personal exemption amount and income thresholds will be adjusted annually based on the percentage increase in inflation, rounded to the nearest dollar. This adjustment aims to ensure that tax brackets and exemption amounts keep pace with economic changes, potentially affecting taxpayers' liability.

Connecticut HB05444 adjusts personal income tax thresholds and exemption amounts to account for inflation.

Connecticut HB05444 modifies the state's personal income tax system by indexing certain tax thresholds and exemption amounts to inflation. Starting from October 1, 2026, the personal exemption amount and income thresholds will be adjusted annually based on the percentage increase in inflation, rounded to the nearest dollar. This adjustment aims to ensure that tax brackets and exemption amounts keep pace with economic changes, potentially affecting taxpayers' liability.