Connecticut is one of the smallest U. S. says, but it can place claim to giving the world the giant Subway restaurant chain and the Colt revolver.
If you live in the Constitution State, you may have to file a state income tax return. But in addition to providing taxpayers with special credits, the state offers progressive income tax rates and the option to pay taxes over time.
The basics of Connecticut state tax
Whether you file on your own or have someone else prepare your state tax return, it’s important to know about deadlines, credits, tax rates and more.
If you are a resident of Connecticut for all or part of the tax year, you may be required to file a state income tax return depending on how much income you earn and if certain conditions apply to you. Part-year residents may also be required to file if they meet certain conditions.
The Connecticut Department of Revenue Services administers the state’s taxes, including sales tax, use tax, capital gains tax and personal income tax. If you have any questions related to your state income tax, check the agency’s list of frequently asked questions. Alternatively, you can send an email through the Contact DRS page or call 1-860-297-5962.
Filing and payment deadline
The due date for filing your state tax return and paying your tax bill is the same as it is for your federal return with the IRS. Typically, that day is April 15 each year, but it will be extended to the following business day if the 15th falls on a weekend or holiday.
If you don’t have enough information to file your Connecticut state tax return by the due date, you can request a six-month extension. That doesn’t extend your payment due date, however, so be sure to estimate how much you’ll owe and pay that amount by the original filing deadline.
The state of Connecticut recognizes the same filing statuses as the federal government: solitary, head of household, wedded filing jointly, married submitting separately and qualifying widow(er) with dependent child.
Exactly how your tax-filing status impacts your tax bill
Connecticut state tax rates
Connecticut has a progressive taxes rate with seven income tax brackets. Listed below are the tax rates and related tax bracket thresholds:
Taxes rate Single or married submitting separately Head of household Married submitting jointly or qualifying widow(er)
3% $10, 000 or less $16, 000 or less $20, 500 or less
5% $10, 001–$50, 000 $16, 001–$80, 000 $20, 001–$100, 00
5. 5% $50, 001–$100, 000 $80, 001–$160, 000 $100, 001–$200, 000
6% $100, 001–$200, 000 $160, 001–$320, 000 $200, 001–$400, 500
6. 5% $200, 001–$250, 000 $320, 001–$400, 000 $400, 001–$500, 500
6. 9% $250, 001–$500, 000 $400, 001–$800, 000 $500, 001–$1 mil
6. 99% $501, 000 or more $800, 001 or more More than $1 million
Connecticut state tax credits and subtractions
Connecticut allows residents to take personal faveur, and the amount is based on their income and filing status. With regard to 2017, the maximum permission was $24, 000. That will number could change for 2018. The exemptions stage out as income levels rise.
Subtractions work much like deductions — they reduce income and, therefore, can help lower your tax burden. Connecticut supplies a few, including, in 2017:
Organ donation costs: If you made a living organ donation (such as bone marrow or a kidney), you could be able to subtract up to $10, 000 in related expenses, including lost income, travel and housing, and medical costs.
The particular state offered five taxes credits in 2017 to help taxpayers reduce how much tax they must pay back or to increase their refund. These credits could be available for 2018 as well.
Personal taxes credit: This credit is available for low- to moderate-income taxpayers and can be between 1% and 75% of your taxes bill. The credit, which differs according to your filing status, phases away as your adjusted major income, or AGI, raises — and it is eliminated completely if your AGI surpasses a certain amount.
Credit score for income taxes paid to qualifying jurisdictions: In case you’re a full- or part-time resident of Connecticut and pay taxes to another state, you could be capable to take a credit on your Connecticut tax come back for a few or all of the amount you paid.
Property tax credit: In case you’re 65 or old and have at minimum one dependent that you claimed on your federal government tax return, you might get a credit of up to $200 for property tax paid on a primary residence or motor vehicle during the year, based on your filing status and income.
Earned income tax credit: If you qualify for and claim the federal earned income tax credit on your federal refund, you may qualify for an extra credit on your state tax return that’s worth 23% of the federal credit you claim for the same tax year.
Angel investor tax credit: If you invest at least $25, 000 in an eligible business during the tax year, you may be able to claim a credit of 25% of your investment, up to $250, 000.
What’s the difference between a tax deduction and a tax credit?
A tax deduction reduces the amount of income you pay income tax on, and it could mean you pay less in taxes. A tax credit is a dollar-for-dollar reduction in the amount of tax you owe.