How is the Connecticut income tax calculated?
To calculate how much tax you owe, subtract your personal exemption (if any) from your Connecticut adjusted gross income. The result is your Connecticut taxable income. Multiply this amount by the appropriate rates to determine the Connecticut income tax. If you are entitled to a tax credit, the amount of income tax will be reduced by the percent of the credit. EXAMPLE: Taxpayers are married, filing jointly. $40,000.00 CT Adjusted Gross Income -24,000.00 Personal exemption 16,000.00 Connecticut taxable income Calculation of Tax $9,000.00 $7,000.00 x.03 x.045 $ 270.00 + $ 315.00 $585.00 Tax -204.75 Tax credit ($585.00 x 35%) $380.25 Tax due I am a resident of another state, but live in Connecticut part of the year. Do I owe Connecticut income tax? If you are a resident of another state, you will not be taxed as a Connecticut resident unless you have a permanent place to live here and spend more than 183 days in Connecticut during the year. However, if you earn income in Connecticut from
