The business entity tax was created in 2002 by State Legislators in order to fill the deficit gap in the state’s budget.
It is applied to over 118,000 businesses in Connecticut including Limited Liability Corporations, Limited Liability Partnerships, Limited Partnerships and S Corporations.
These companies must pay the $250 tax annually regardless of whether they earn a profit or even operate during the year.
This tax is a drain on the State’s economy and sends a negative message to small business owners and entrepreneurs. According to Secretary Bysiewicz in her news release dated January 23, 2008, small business owners are responsible for 80% of Connecticut’s new jobs and are instrumental in the growth of the state’s economy. This tax is a burden on those same small business owners who are struggling to grow their businesses and make ends meet. The $250 these businesses pay each year could pay an electric bill for a month, cover advertising costs, or be invested in a new product.
It is time to repeal the business entity tax in Connecticut. The state had a budget surplus last year and can no longer justify this additional tax on small business owners.
Tell your State legislators you want them to support Senate Bill 400, or any other measure that will eliminate the business entity tax.
House Democrats: 1-860-240-8585
Senate Democrats: 1-860-240-8600
House Republicans: 1-860-240-8700
Senate Republicans: 1-860-240-8800
We, the undersigned, call on our state legislators of the Connecticut General Assembly to pass Senate Bill 400 – An Act Eliminating the Business Entity Tax.
Help improve our state’s economy by relieving small business owners of this burdensome tax.
The Repeal the Connecticut Business Entity Tax petition to Connecticut General Assembly was written by Rachael Payne and is in the category Government at GoPetition.