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Industry News
Newspaper IndustryConnecticut pays a high price for tax breaksPlanning to attend a concert? Be prepared to pay the state admissions tax - unless the performance is held at the New Haven Coliseum, Ocean Beach Park in New London, or one of a few other select venues.Looking to store something? If it's a boat, you're in luck--no tax. If it's furniture, add the state's 6 percent to the bill.Commercial parking lots and garages have been subject to sales tax for nearly two decades now, but not valet parking at airports. Connecticut has more than $5.3 billion worth of exemptions, credits and other tax breaks on its books, including more than $3 billion on its sales tax alone, according to a new report from the legislature's Office of Fiscal Analysis.But with state government staring at deficits of historic proportions in the next two years, a growing number of legislators are saying it's time to revisit an ever-growing list of tax policy winners and losers, and keep only the most essential breaks on the books.
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