Why incorporate in Connecticut?

Business Information & Rankings

Connecticut ranked 2nd for the Smartest State Award (Morgan Quitno Press, 2005)
Connecticut ranked 9th on the Top 10 Small Tech Hot Spots List (Small Times Magazine, 2004)
Connecticut ranked 10th on the State Technology & Science Index (Milken Institute, 2004)

Cost of Living Index

For Hartford, CT (2005):	Index Score
Composite:	120.9
Housing:	143.1
Utilities:	127.2
Misc. Goods & Services:	106.1

Crime Rate

Connecticut has the 12th lowest crime ranking among U.S. States. (FBI, 2004)

Fees & Taxes

Business Inventory Tax
Connecticut does not tax business inventory.

Corporate Income Tax
Rate: 7.5 %.
The tax is the greater of: (1) the applicable net income tax rate; (2) 3 1/10 mills per dollar of capital holding; or (3) the minimum tax of $250.

Personal Income Tax
The first $20,000 is taxed at 3% and anything over $20,000 is taxed at 5%.

Personal Property Tax
Taxable

State Sales and Use Tax
Base Rate: 6 %
Machinery Rate: None

An exemption is given on sales, storage, use or consumption of machinery used directly in a manufacturing process.

Unemployment Insurance
Connecticut’s new employers’ rate is 2.7% for 2 years.