AN ACT ESTABLISHING A SMALL BUSINESS TAX CREDIT.

Plain English Breakdown

The effective date is unknown as it was not listed in the metadata or text.

Small Business Tax Credit Act

This bill creates a new tax credit worth $2,080 for each full-time equivalent worker employed by qualifying small businesses.

What This Bill Does

• Amends Title 12 of the general statutes to create a new tax credit.
• Sets the credit amount at two thousand eighty dollars per employee.
• Applies the credit based on the number of full-time equivalent employees.

Who It Names or Affects

• Small businesses as defined by the U.S. Small Business Administration
• Employers with full-time equivalent workers

Limits and Unknowns

• The official text does not state when this tax credit will begin.
• The source does not explain how businesses apply for or claim the credit.

Official Summary Text

To establish a tax credit for small businesses of two thousand eighty dollars per full-time equivalent employee.

Current Bill Text

LCO No. 290 1 of 1

General Assembly Proposed Bill No. 5008
February Session, 2026 LCO No. 290

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
REP. CANDELORA V., 86th Dist.
REP. O'DEA, 125th Dist.
REP. RUTIGLIANO, 123rd Dist.
REP. ACKERT, 8th Dist.
REP. ZUPKUS, 89th Dist.
REP. ZAWISTOWSKI, 61st Dist.
REP. CARNEY, 23rd Dist.

AN ACT ESTABLISHING A SMALL BUSINESS TAX CREDIT.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That title 12 of the general statutes be amended to establish a tax 1
credit for small businesses, as defined by the United States Small 2
Business Administration, of two thousand eighty dollars per full -time 3
equivalent employee. 4
Statement of Purpose:
To establish a tax credit for small businesses of two thousand eighty
dollars per full-time equivalent employee.