AN ACT RESTORING THE CAP ON A COMBINED GROUP'S TAX LIABILITY ON A UNITARY BASIS.

Plain English Breakdown

The official source material does not provide details on the specific impact or broader implications for businesses and other aspects of tax law.

Restoring Tax Cap for Business Groups

This act restores a limit on how much tax a combined business group has to pay.

What This Bill Does

• Changes the law to put back a cap of $2,500,000 on how much tax a combined group of businesses must pay together.
• Applies only to taxes paid by groups of companies as one unit.

Who It Names or Affects

• Businesses that are part of a combined group and file taxes together.

Terms To Know

Combined Group

A set of businesses that work closely together and report their taxes as one unit.

Unitary Basis

The way some companies are taxed, where they pay based on the total income of all related businesses in a state.

Limits and Unknowns

• Does not specify how this change will affect specific businesses or their taxes.
• It is unclear if there will be any changes to other parts of tax law because of this act.

Official Summary Text

To restore the cap of two million five hundred thousand dollars on a combined group's tax liability on a unitary basis.

Current Bill Text

LCO No. 336 1 of 1

General Assembly Proposed Bill No. 58
February Session, 2026 LCO No. 336

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. PERILLO J., 21st Dist.

AN ACT RESTORING THE CAP ON A COMBINED GROUP'S TAX
LIABILITY ON A UNITARY BASIS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That subsection (k) of section 12 -218e of the general statutes be 1
amended to restore the cap of two million five hundred thousand 2
dollars, eliminated by public act 25 -168, on a combined group's tax 3
liability on a unitary basis. 4
Statement of Purpose:
To restore the cap of two million five hundred thousand dollars on a
combined group's tax liability on a unitary basis.