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Connecticut
Corporate Income Tax Rate at a Glance
Connecticut's top corporate income tax rate is 7.5%, applied as a flat rate. This places Connecticut in the "Moderate (5–7.99%)" tier among U.S. states.
Rate Structure (Flat vs. Graduated)
7.5% flat corporate business tax rate, plus a 10% surtax on companies with gross income over $100 million (effective rate 8.25% for those companies). The surtax is currently extended through 2025.
Franchise Tax / Annual Privilege Tax
Connecticut imposes the Business Entity Tax was repealed in 2019. However, corporations are subject to a minimum tax of $250 even if owing no income tax.
S-Corp & Pass-Through Treatment
Connecticut recognizes federal S-corp election. Connecticut also imposes a Pass-Through Entity Tax (PET) at 6.99% on partnerships, S-corps, and LLCs taxed as partnerships, with credits available to owners. PET became elective starting in tax year 2024.
Official State Revenue Department
For current corporate tax rules in Connecticut, consult the state's official source at https://portal.ct.gov/drs/corporation-tax/corporation-tax. Rates and rules change annually — verify with a qualified tax professional before taking any action.
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Corporate income tax rates change frequently as states enact reform packages and phase-down schedules. Always verify current rates with the state's department of revenue and your tax advisor before making business decisions. This information is for educational purposes only and is not tax or legal advice.