New Tax Credit of $500 Annually for 5 Years Offered to STEM Graduates Working in CT
Monday, February 04, 2019
Passed by the state legislature over a year ago as part of the 2017 state budget compromise, a new tax credit aimed at keeping college graduates in the technology fields in Connecticut – and attracting young professionals to the state – becomes effective this year.
It is a “refundable personal income tax credit for college graduates who are employed in the state; receive, on or after January 1, 2019, a bachelor’s, master’s, or doctoral degree in a science, technology, engineering, or math (STEM) field; and live in Connecticut or move here within two years after graduating.” The credit is $500 and may be claimed in each of the five years after graduation.
Category: (none)
