A series of new laws affecting businesses in Connecticut are set to go in effect Friday, Jan. 1. The major law affecting businesses would be the revised state budget that was passed.
Among the provisions of the revised budget bill passed Dec. 8, according to a legislative analysis, it:
- limits the scope of the new 6 percent gross receipts tax on certain ambulatory surgical centers;
- eliminates provisions in the budget act: increasing the sales and use tax rate on computer and data processing services from 1 percent to 2 percent on Oct. 1, 2015 and 2 percent to 3 percent on July 1, 2016 and for such services sold on or after Oct. 1, 2015, exempting from the tax services performed by an entity for one of its affiliates;
- preserves a sales and use tax exemption for certain employer-provided parking;
- delays, by one year, the effective date for implementing mandatory combined reporting;
- imposes an alternative limit on net operating losses certain corporations may carry forward;
- requires contractors awarded “municipal public works contracts” or contracts for “quasi-public agency projects” to comply with state set-aside program requirements;
- subjects certain nonprofit hospital and college properties to property tax;
- requires the labor commissioner to contract with consultants to create an implementation plan for a paid family and medical leave program and perform an actuarial analysis on the funding needed to sustain such a program;
- establishes a 13-member commission to assess how the state’s tax policies affect economic growth and recommend how the state can promote such growth
- extends the sales and use tax to coin-operated car washes
