This episode of the Eversheds Sutherland SALT Shaker Podcast policy series discusses a Connecticut legislative proposal that would create a wage compensation tax. The proposal is currently included in the Connecticut budget and is specifically meant to alleviate the SALT deduction cap put in place by the Tax Cuts and Jobs Act 2017 for wage earners. Although New York implemented a similar proposal in 2019, the Connecticut proposal turns that program on its head by letting an employee (as opposed to the employer) decide whether to participate. The current proposal is fairly bare bones, presenting many troubling, unanswered questions.
The episode ends with a new feature—“surprise nontax question”—that host and Partner Nikki Dobay and her guests each answer!
The Eversheds Sutherland State and Local Tax team has been engaged in state tax policy work for years, tracking tax legislation, helping clients gauge the impact of various proposals, drafting talking points and rewriting legislation. This series, which is focused on state and local tax policy issues, is hosted by Partner Nikki Dobay, who has an extensive background in tax policy.
Questions or comments? Email SALTonline@eversheds-sutherland.com.
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