Business Entity Tax Moves Toward Elimination
[youtube=http://www.youtube.com/watch?v=1DEMpZV05jk&hl=en]
Today members of the House Republican caucus joined with other legislators, State Business Advocate Rob Simmons, and Connecticut business leaders and called for a full repeal of the state’s Business Entity Tax. The Business Entity tax was adopted in 2002 as a temporary measure to close a budget deficit. Six years on, the tax remains as a burden to the state’s business climate and economy.
State Representative Selim Noujaim (R-Waterbury) addressed the press conference. As the executive vice president of the family-founded Noujaim Tool Company, Inc. in Waterbury, Noujaim knows first-hand the impact of the tax. He cited seventeen companies that were customers of his business who have left Connecticut, or gone out of business due to the state’s poor business environment. Watch his remarks below:
[youtube=http://www.youtube.com/watch?v=uElJM1A8qd8&hl=en]
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