Connecticut HB05445 modifies the amortizable bond premium subtraction for personal income tax purposes.
Connecticut HB05445 eliminates the requirement for the amortizable bond premium subtraction when calculating Connecticut adjusted gross income. The bill introduces a new schedule for the amortizable bond premium subtraction based on federal adjusted gross income, effective January 1, 2027. The subtraction percentages range from 100% for incomes below $75,000 to 0% for incomes over $150,000.
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