ASC tax on the chopping block in Connecticut

The Connecticut legislature's one-year, $24.2 billion state budget will eliminate ASC taxes by July 1, law firm Garfunkel Wild said May 6. 

The law, signed by Gov. Ned Lamont May 9, according to WTNH, will remove both a gross receipt and net revenue tax. 

Under current law, ASCs are taxed 6 percent each quarter. The original tax was slated to transition from a gross receipts tax to a tax of 3 percent on net revenue on July 1, 2023. 

 

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