OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
HB-5513
AN ACT CONCERNING THE DEDUCTION AND WITHHOLDING
OF PERSONAL INCOME TAX FROM CERTAIN PAYMENTS AND
DISTRIBUTIONS.
Primary Analyst: CW 4/16/24
Contributing Analyst(s):
Reviewer: MM
OFA Fiscal Note
State Impact: None
Municipal Impact: None
Explanation
The bill, which changes income tax withholding requirements for
certain retirement income distributions, does not result in any fiscal
impact to the state or municipalities. The bill shifts the timing of receipt
of certain personal income tax revenue but not the overall amount due.
The Out Years
State Impact: None
Municipal Impact: None