Connecticut SB00039 mandates adjusting personal income tax thresholds based on changes in the consumer price index.
Connecticut SB00039 amends chapter 229 of the general statutes to require that income thresholds for the personal income tax be adjusted in accordance with any change in the consumer price index. This means that as the cost of living increases, the income levels at which different tax brackets begin will also increase, potentially affecting taxpayers' liability.
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