What is the Connecticut income tax rate?
For taxable year 1996, the Connecticut income tax rate is 3% of the first $2,250 of Connecticut taxable income for single filers, $3,500 for heads of household, or $4,500 for married couples who file a joint return. The tax rate is 4.5% of Connecticut taxable income in excess of these amounts. 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. $30,000.00 CT Adjusted Gross Income -24,000.00 Personal exemption 6,000.00 Connecticut taxable income Calculation of Tax $4,500 $1,500 x.03 x.045 $135.00 + $ 67.50 $ 202.50 Tax – 151.88 Tax credit ($202.50 x 75%) $ 50.62 Tax due I am a resident of
