© 2024 Connecticut Public

FCC Public Inspection Files:
Public Files Contact · ATSC 3.0 FAQ
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Conn. hits sales tax record in 1st full year of pandemic

STAMFORD, Conn. (AP) — Connecticut broke its previous record for sales tax collections during the first full fiscal year of the pandemic, helped by federal COVID-19 aid and a rebounding economy.

The Stamford Advocate reportednearly $5.3 billion was collected for the 12 months through the end of June, which represented a $633 million increase over the previous year. That's enough to cover a year of operating expenses for the state’s public universities and community colleges, the newspaper reported.

Sales tax gains in previous years had ranged between $20 million and $200 million. The recent increase is attributed to individuals and businesses spending federal pandemic relief funds as travel and entertainment restrictions have gradually eased. A real estate boom in the region also has contributed.

Connecticut collects 6.35% on most purchases, with some exceptions for items such as food and luxury vehicles. Income taxes, the biggest source of revenue for the state, generated $10.3 billion in the fiscal year ending in June. That represented a 9% increase but still fell $500 million below the amount collected in the 2018 fiscal year, The Advocate reported.

Stand up for civility

This news story is funded in large part by Connecticut Public’s Members — listeners, viewers, and readers like you who value fact-based journalism and trustworthy information.

We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. As a community-supported public media service, Connecticut Public has relied on donor support for more than 50 years.

Your donation today will allow us to continue this work on your behalf. Give today at any amount and join the 50,000 members who are building a better—and more civil—Connecticut to live, work, and play.

Related Content