Bill Would Cap State Income Tax Rate

The state Senate has given initial approval to a constitutional amendment on taxation. If approved by voters, the bill from Manchester Republican Andrew Koenig would prevent the General Assembly from setting a state income tax rate above five-point-five-percent…

Other provisions include providing exceptions for taxes on subscriptions, licenses for digital products, and online purchases of personal property. The income tax rate for the current tax year is four-point-eight-percent. The corporate tax rate is four-percent.