Connecticut Governor Seeks Exemption for Non-Prescription Drugs
- Feb 5, 2014 | Gail Cole
Connecticut Governor Dannel P. Malloy is seeking a sales tax exemption for non-prescription drugs. The exemption is part of a two-year, tax relief plan that is, according to the governor, "a modest, responsible way to begin reducing the tax burden on Connecticut residents." Altogether, the plan proposes close to $450 million in tax savings.
In addition to the non-prescription drug exemption, the governor is calling for the following:
- An income tax exemption for 50% of teachers’ pensions;
- A two-day state park fee holiday;
- An extended angel investor tax credit; and
- A municipal exemption for health care plans from insurance premiums tax.
An exemption for clothing costing less than $50 is already planned for 2015.
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