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Both parties look at eliminating tax on social security income

Some lawmakers want to do away with state tax on social security income.
Some lawmakers want to do away with state tax on social security income.

HARTFORD, Conn. – Connecticut is one of 13 states that taxes seniors’ Social Security income, a practice Democratic and Republican lawmakers alike are hoping to end.

More than a dozen bills have been introduced this year that seek to exempt all Social Security income from Connecticut’s personal income tax.

Under current law, single taxpayers’ Social Security income is exempt from tax if his or her federal adjusted gross income is less than $50,000; married couples filing jointly are exempt from taxation of their Social Security if their adjusted gross income is less than $60,000, according to the state Department of Revenue Services. The exemption costs the state about $79 million a year and benefits 320,000 tax filers, according to the Office of Fiscal Analysis

See the complete story at CT News Junkie.

Comments

3 responses to “Both parties look at eliminating tax on social security income”

  1. John Hamlin

    It’s a start.

  2. Piberman

    Imagine if our Democrat Legislature eliminated the Hospital Tax too.

  3. Ryan

    This really should be a no brainer but…..this is Connecticut.

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