Connecticut Governor Seeks Exemption for Non-Prescription Drugs

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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