LCO No. 1848 1 of 2
General Assembly Proposed Bill No. 5865
January Session, 2021
LCO No. 1848
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
REP. ELLIOTT, 88
th Dist.
REP. HUGHES, 135
th Dist.
REP. JOHNSON, 49
th Dist.
REP. CANDELARIA, 95
th Dist.
REP. TURCO, 27
th Dist.
REP. GODFREY, 110
th Dist.
REP. WINKLER, 56
th Dist.
REP. LEMAR, 96
th Dist.
REP. ZIOGAS, 79
th Dist.
REP. PHIPPS, 100
th Dist.
SEN. LOPES, 6
th Dist.
AN ACT CONCERNING THE TAX TREATMENT OF INVESTMENT
FUND NET PROFITS ATTRIBUTABLE TO CERTAIN INVESTMENT
MANAGEMENT SERVICES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the general statutes be amended to specify that net profits of 1
investment funds attributable to certain investment management 2
services performed by fund managers shall be treated as ordinary 3
income subject to the corporation business and personal income taxes, 4
rather than as investment profits subject to the capital gains tax. 5
Statement of Purpose:
To specify that net profits of investment funds attributable to certain
investment management services performed by fund managers be
treated as ordinary income subject to the corporation business and Proposed Bill No. 5865
LCO No. 1848 2 of 2
personal income taxes, rather than as investment profits subject to the
capital gains tax.