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A Potentially Big Break for Connecticut Small Businesses

The secretary of the state and a bipartisan group of state legislators said Thursday they will seek to abolish Connecticut’s annual $250 business entity tax during this year’s legislative session, which begins Feb. 6.  Hartford Courant, January 17, 2008

This should be welcome news to any small business or anyone interested in starting a small business in Connecticut. Eliminating this tax means that people looking to incorporate in Connecticut would not have to fear getting hit with a $250 annual tax even if the business never gets off the ground.

I think that repealing this tax will benefit existing small businesses and encourage new small businesses to incorporate in Connecticut.