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Connecticut Yearly Expenses by Quarter
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Multi-State
Control #:
US-174-AZ
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FAQ
The state receives revenue to fund state services, programs and expenses from a variety of sources. The largest sources of state revenue are the Personal Income Tax, the Sales & Use Tax, Federal Funds and Business Taxes.
On paper, Lamont will propose roughly a 2% increase to the preliminary $23.85 billion budget he and lawmakers adopted last June for the 2022-23 fiscal year.
On paper, Lamont will propose roughly a 2% increase to the preliminary $23.85 billion budget he and lawmakers adopted last June for the 2022-23 fiscal year.
Connecticut reported $95 billion in unfunded obligations last fall, a combination of bonded debt and unfunded pension and retirement health care responsibilities.
The state receives revenue to fund state services, programs and expenses from a variety of sources. The largest sources of state revenue are the Personal Income Tax, the Sales & Use Tax, Federal Funds and Business Taxes.
Gov. Ned Lamont's budget office boosted its surplus projection last Friday to $1.77 billion, driven largely by an extra $200 million in sales, corporation and real estate conveyance tax receipts.
Connecticut State Finance Project Since fiscal year 2000, Connecticut's General Fund gross tax revenues have increased 35.8 percent overall rising from $13.4 billion in fiscal year 2000 to $18.2 billion in fiscal year 2020.
