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Controlling Your Taxes Your State Tax Obligations Connecticut Taxes on Business Income in Connecticut
Controlling Your Taxes Your State Tax Obligations Connecticut Taxes on Business Income in Connecticut
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PrintTaxes on Business Income in Connecticut
The following are the types of income taxes that may affect small businesses. Our intent is to give you a general understanding of when the various taxes will apply to you and what they will mean to your business.
- Franchise tax is required from most corporations doing business in Connecticut.
- Income tax on business income computed at the rate of 7.5 percent of corporate taxable net income is required in Connecticut.
- Personal income tax based on a person's income is up to 5 percent of taxable income in Connecticut.
