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Tax Summary
- Connecticut assesses income tax on a sliding scale between 3% and 5% depending upon how much you earn.
- Personal exemption for a single individual is $12,750. Exemption for a married couple is $24,000. There are no exemptions for children.
- Exemptions are phased out for those in higher income brackets.
- Sales tax in Connecticut is 6%, although some cities add their own city sales taxes as well.
- The cigarette tax is Connecticut is between $1.11 and $1.39 a pack.
- Property taxes are determined by individual counties based on 70% of the fair market value of the property.
- Some residents who pay property taxes may qualify for a partial credit toward their state income tax liability up to a maximum credit of $350.
- There is currently an inheritance tax, but this will be phased out by 2005.
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