From a press release:
State Representative Chris Perone (D-Norwalk) joined with Secretary of the State Susan Bysiewicz and a bipartisan group of state legislators, business leaders and small business owners at a press conference at the State Capitol on Thursday, January 17, to announce their plan to abolish the Business Entity Tax.
“This is an important initiative for small businesses and it sends the right message to small businesses that we are aware of the pressures they face,” Rep. Perone said. “By eliminating this tax we will lift one more financial burden off them and it will go toward growing small business in our state.”
Created in 2002, the $250 dollar tax is levied on more than 118,000 businesses. Eliminating the tax would save small business owners an estimated $30 million annually.
Rep. Perone, Vice Chairman of the legislature’s Finance Committee, said that he will urge committee heads to abolish the business entity tax this upcoming legislative session, scheduled to begin February 6, 2008.
“As the Vice Chairman of the Finance Committee, I will do everything in my power to get this issue to move forward,” said Rep. Perone.
