DRS Issues Guidance Regarding Treatment of Bonus Depreciation for Connecticut Income Tax Purposes

The Department of Revenue Services (DRS) recently issued guidance on treatment and decoupling of bonus depreciation for Connecticut income tax purposes, the result of new federal (Tax Cuts and Jobs Act of 2017) and state (Public Act 18-49) legislation.

DRS is expected to continue to issue additional guidance on Public Act 18-49, and we will continue to communicate with DRS staff on your behalf. We encourage you to forward questions to Jim Polites at jimp@ctcpas.org to help inform these conversations as well as additional guidance issued.

View the new guidance.

Still have questions?

Join us, the Connecticut Bar Association, and Department of Revenue Services at our annual DRS Liaison Dinner.

Tuesday, June 26 from 5:45 to 8 p.m.     Red Lion Hotel, Cromwell
1 CPE Credit