On 12 June 2023, Connecticut Governor Ned Lamont of USA signed the budget bill (H.B. 6941) which includes an extension of the corporation business tax (CBT) surcharge for three years. The surcharge, set at a rate of 10%, applies to companies with more than USD 250 in corporation tax liability and meet either of the following criteria: (1) have at least USD 100 million in annual gross income, or (2) are taxable members of a combined group that files a combined unitary tax return, regardless of income. Previously applicable until income years beginning before 1 January 2023, the surcharge has now been extended to income years beginning before 1 January 2026.
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