Get CT DRS CT-1040 2017

Connecticut Median Household Income If you are single or married and filing separately, the tax rate is 3% for those who make $10,000 or less in taxable income; 5% for up to $50,000; 5.5% for up to $100,000; 6% for up to $200,000; 6.5% for up to $250,000; 6.9% for up to $500,000 and 6.99% for over $500,000.

Income derived from or connected with Connecticut sources includes income, gain, loss, or deduction attributable to: The ownership or disposition of any interest in real property or tangible personal property located in Connecticut; ... A business, trade, profession, or occupation carried on in Connecticut.

The GOP tax law will also make many Connecticut residents happy this year. Those who don't itemize will benefit from a doubling of the standard deduction of $12,000 for single filers and $24,000 for married couples. ... Many of the state's wealthiest residents will also benefit.

The amount of the PE Tax Credit is equal to your direct and indirect pro-rata share of the PE Tax paid by the pass-through entity multiplied by 93.01%. You can use the PE Tax Credit against your Connecticut income tax liability.

A part-year resident's total income during his or her period of residency and his or her Connecticut source income during his period of nonresidency are subject to Connecticut income tax. (Connecticut source income of a nonresident is defined in the instructions to Form CT-1040NR/PY.) ... That is your CT source income.

All types of retirement income are subject to Connecticut's income tax, although Social Security is exempted for some seniors. The state has a sales tax near the national average and some of the highest property taxes in the U.S.

If your income is between $32,000 and $44,000, you may be subject to taxes on up to 50% of your benefits. Above $44,000, up to 85% of your benefits may be taxable.

Pension and annuity benefits from federally qualified or nonqualified pension or retirement plans paid to nonresidents of Connecticut are not subject to Connecticut income tax.

In Rhode Island, Massachusetts and Connecticut, most people who receive Social Security Disability Insurance (SSDI) benefits wind up not having to pay taxes on their benefits. However, if you have other income, you may have to pay taxes on a portion of your SSDI benefits.

Connecticut does not tax retirement income for nonresidents that reside in the state part time. Almost all pensions and annuity payments are subject to Connecticut's income tax. Even former state employees have to declare pension income on their state tax return.

Is Connecticut tax-friendly for retirees? No. In fact, it is among the least tax-friendly states in the U.S. Unlike most other states, all forms of retirement income, including Social Security, are taxable in Connecticut.

For example, Connecticut taxes Social Security benefits if your income tops $75,000, or $100,000 if you're married and file taxes jointly. A tax on Social Security doesn't necessarily make a state unsuitable for retirement.

Stop, Look & Listen: Railroad Retirement Benefits Q&A Answer: The following nine states do not have personal income taxes: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.

You must file a Connecticut income tax return if your gross income for the taxable year exceeds: $12,000 and you are married filing separately; $15,000 and you are filing single; $19,000 and you are filing head of household; or.

The minimum income amount depends on your filing status and age. In 2018, for example, the minimum for single filing status if under age 65 is $12,000. If your income is below that threshold, you generally do not need to file a federal tax return.