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Connecticut Commissioner of Revenue Services Kevin Sullivan said today that income tax check cashing being offered at some Walmart stores for the first time this year is “just a way to lure taxpayers into spending at Walmart the minute they get their hard-earned refunds.”
The Department of Revenue Services has issued its first Tax Incidence Report. The report addresses the overall incidence of the Personal Income, Sales and Excise Taxes, Corporation Business Tax, Property Tax, Gift and Estate Tax, and the Real Estate Conveyance Tax in addition to analyzing each tax individually. The report analyzes Connecticut’s households in two categories: income deciles and population deciles and looks at progressivity and regressivity, effective tax rates, and the impact of how the tax incidence is borne.