Major Victory: Proposed Sales Tax on Accounting and Tax Services

Bonnie Stewart, Executive Director  

I've got great news for you this morning! Last night, the Finance Committee voted to approve a revenue package that offered significant changes to Governor Ned Lamont's budget proposal - and a sales tax on tax and accounting services is NOT in that package. While the committee did vote to broaden the sales tax to certain services, including rideshares like Uber and Lyft and dry-cleaning, at this time, CPA services are safe.

I want to thank you for your support - those of you who wrote letters and emails to your legislators, the firms and companies who contributed financially to our geo-fencing ad campaign targeting legislators, those of you who took the extra step to submit testimony that became part of the public record. The individual efforts made a difference in the Finance Committee's decision. You actually set a record for the amount of testimony submitted, and legislators are still talking about that at the Capitol!

We are certainly celebrating today. However, it's important to recognize that this is not a done deal. Budget negotiations are just beginning, and until the session closes at midnight on June 5, this proposed sales tax expansion could come back. As always, we will keep you apprised and let you know when we need you to fight along with us again.

Check your inbox later today for a special edition of Capitol Corner covering this victory and a number of other provisions that you may be interested in, including payroll taxes, some new taxes, and more.

Thank you, again, for your efforts in this challenging legislative session.