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Governor Ned Lamont today announced that beginning on January 1, 2025, Connecticut’s minimum wage will increase from the current rate of $15.69 per hour to $16.35 per hour.

Connecticut’s pension funds performed better than expected in the most recent fiscal year, showing double-digit returns even as the state continues to play catch-up with its massive unfunded pension liabilities.

Businesses, developers say guardrails are important, but varied state laws create confusion.

Governor Ned Lamont today announced that the U.S. Small Business Administration (SBA) has opened two Business Recovery Centers in Monroe and Oxford that are now providing in-person assistance to businesses seeking to apply for federal disaster aid for damages incurred due to the severe flooding the western portion of Connecticut experienced on August 18, 2024.

Governor Ned Lamont today announced that President Joe Biden has approved his request for a major disaster declaration due to the historic rainfall and extreme flooding that impacted towns and cities in western Connecticut on August 18, 2024.

This publication has been updated to address the guidance issued by the Internal Revenue Service (IRS) relative to the victims of severe storms and flooding in Connecticut and New York. In recognition of the recent IRS guidance, the Commissioner of Revenue Services will exercise the authority provided him under Conn. Gen. Stat.§ 12-2(a)(5) on a case-by-case basis and the Department of Revenue Services (DRS) will consider requests for relief from penalty and interest that would otherwise accrue on late filings and payments after September 30, 2024.

Businesses with 5 or more employees who do not offer a retirement plan and have been in business since January 1, 2023 are required to either register and enroll employees in MyCTSavings, or provide another qualified retirement plan. Once enrolled, employees have the option to opt-out, stay with the standard Roth IRA, or customize a Roth IRA by setting the deduction percentage and choosing from several fund options.

CTData Collective and the state Department of Health have teamed up to launch a new online tool that will provide “groundbreaking” population data, migration patterns, and housing information down to the town level.

After a period of initial data collection and review as required by the Federal Emergency Management Agency (FEMA) and the U.S. Small Business Administration (SBA), Governor Ned Lamont today submitted a formal request to President Joe Biden seeking a major disaster declaration due to the historic rainfall and extreme flooding that impacted communities in Fairfield County, Litchfield County, and New Haven County on August 18, 2024.

Governor Ned Lamont and Connecticut Transportation Commissioner Garrett Eucalitto today announced that they have received notification from the U.S. Department of Transportation’s (USDOT) Federal Highway Administration (FHWA) informing them that the Connecticut Department of Transportation (CTDOT) is being awarded $3 million in “quick release” funding from its Emergency Relief program to aide in the immediate recovery efforts following the August 18 historic rain and flooding event in western Connecticut.

The governor warned immediate or significant relief is unlikely.

Comptroller Sean Scanlon is projecting surpluses of $113.2 million for the General Fund and a $126.4 million for the Special Transportation Fund for Fiscal Year 2025, according to his monthly update.

Governor Ned Lamont today provided the following updates as of 2:00 p.m. on Friday, August 30, regarding Connecticut’s recovery from the August 18 historic rainfall and flooding.

Pete Gioia, the former longtime economist of the Connecticut Business & Industry Association, has died, according to CBIA President and CEO Chris DiPentima.

Lamont says CT needs to find ways to boost energy supply.

State officials announced new funding for businesses affected by the devastating flash-flooding that hit southwestern Connecticut last weekend, as they pledged to continue working to secure long-term federal funding to support the towns in the region as they rebuild from what has been described as a “thousand-year storm.”

Connecticut residents and business owners can self-report property damage following catastrophic flooding.

Democrats say Republican plan is election-year stunt offering little relief.

On May 28, 2024, Governor Ned Lamont signed legislation expanding Connecticut’s 2011 Sick Leave Law. The new legislation is effective on January 1st, 2025. The law covers more employees, expands the reasons under which employees may use paid sick leave, and reduces the required hours to accrue paid sick leave.

Next Gen Personal Finance, CT Financial Scholars provide professional development to help schools meet new requirements.