Connecticut Gov. Dannel Malloy has signed legislation amending the state’s personal income tax law to:

  • Subject a nonresident’s income from nonqualified deferred compensation plans to taxation;
  • Require nonresidents to pay tax on gains or losses from the sale or disposition of an interest in certain entities;
  • Changes how a nonresident’s business income is apportioned to Connecticut, and
  • Require a trust or estate to add any lump-sum distributions it receives during the tax year to Connecticut adjusted gross income.

via Connecticut ~ Personal Income Tax: Calculation of Nonresident’s Income, Fiduciary Adjustment Modified | |.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.