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IRS Issues New Guidance for Owners with Crumbling Foundations
The IRS has issued new guidance on claiming a casualty loss deduction for crumbling foundation repairs. Read the IRS' response to a letter from Representatives Joe Courtney and John Larson.
CPAs Score Another Legislative Win -- Unauthorized Practice of Law Bill Killed
CPAs scored another victory in the 2019 General Assembly: Thanks to the efforts of the CTCPA's advocacy team, Raised Senate Bill No. 1059, the "Unauthorized Practice of Law" bill, did not make it out of the Judiciary Committee. The bill's full title was "An Act Concerning the Unauthorized Practice of Law and the Prevention of False Long-Term Care Legal Planning and Advisement.” "We're thrilled with another legislative victory," said CTCPA Executive Director Bonnie Stewart...
Unauthorized Practice of Law Bill Does Not Move Forward
CPAs scored another victory in the 2019 General Assembly: Thanks to the efforts of the CTCPA's advocacy team, Raised Senate Bill No. 1059, the "Unauthorized Practice of Law" bill, did not make it out of the Judiciary Committee. The bill's full title was "An Act Concerning the Unauthorized Practice of Law and the Prevention of False Long-Term Care Legal Planning and Advisement.” "We're thrilled with another legislative victory," said CTCPA Executive Director Bonnie Stewart, "in...
CTCPA Executive Director Bonnie Stewart testifies before Finance, Revenue, and Bonding Committee April 10 public hearing
CTCPA Executive Director Bonnie Stewart testifies before the Finance, Revenue, and Bonding Committee April 10 public hearing. Video courtesy of CT Public Affairs Network, Inc.   CTCPA Executive Director Bonnie Stewart recently testified before the Finance, Revenue, and Bonding Committee public hearing on April 10. She addressed several aspects of H.B. 7377 (Raised): An Act Extending the Manufacturing Apprenticeship Tax Credit to Affected Business Entities , including bonus depreciation,...
Governor: One key labor concession won’t be achieved this year
Gov. Ned Lamont conceded Tuesday that he won’t secure one of the most controversial concessions he’s seeking from employee unions — new limits on cost-of-living adjustments to pensions —this spring. The Democratic governor said he still hopes to secure this giveback at some point, but added it’s unlikely to happen before legislators adopt the next, two-year state budget. Lawmakers are striving to adopt a new plan before the session ends on June 5.
Lamont Releases Estimated Toll Rates
There were still more questions than answers when it comes to what a final electronic tolling bill will look like and also whether the Democrats have enough votes to approve the legislation without any Republican support. Gov. Ned Lamont and the co-chairs of the legislature’s Transportation Committee held a press conference Wednesday to explain their thinking with just eight weeks left in the 2019 legislative session. However, they were unable to offer many details...
Stanley's 'Manufactory 4.0' opens Thursday
New Britain's Stanley Black & Decker will debut Thursday morning its downtown Hartford innovation hub, Manufactory 4.0. Also known formally as the state-of-the-art Advanced Manufacturing Center of Excellence, the facility occupies 23,000 square feet at One Constitution Plaza in downtown Hartford.
Governor Lamont: “State Government Needs to Be Faster and More Efficient”
Governor Ned Lamont and Department of Administrative Services (DAS) Commissioner Josh Geballe today announced a series of items to reduce bureaucracy, streamline procurement, and ultimately make it easier for businesses to work with the state. Included in the items is a bill currently pending in the legislature that will eliminate thousands of unnecessary forms processed by DAS annually. The announcement was made during a tour of Infoshred, a document shredding facility in East Windsor.
DOT says transportation capital program needs more funding
Connecticut pumps nearly $1.6 billion in new state and federal money into its transportation capital program each year. The problem, Department of Transportation officials testified Monday, is that to make all repairs and the strategic enhancements needed to to transform the aging, overcrowded system, Connecticut needs to find 30 percent more.
Report: More than 300 bridges in CT ‘structurally deficient’
The nation’s bridges are deteriorating, but in Connecticut they are in better shape than they were four years ago, according to a report released Monday. The American Road & Transportation Builders Association’s assessment of the condition of the nation’s bridges in 2018 found that of the 4,270 bridges in the state, 308 — or 7.2 percent — were classified as structurally deficient. This is down from 376 bridges classified as structurally deficient in 2014, the report said.