Insights & Resources

The Connecticut Legislature recently passed the state budget for the next fiscal year. Once signed into law by Governor Lamont, ambulatory surgery centers in Connecticut will no longer be taxed beginning July 1, 2022. Under current law, an ASC’s gross receipts (excluding certain items) are taxed each quarter at 6%. On July 1, 2023, the tax was supposed to transition from a gross receipts tax to a tax of 3% on net revenue (again, excluding certain items) of each ASC. The new law removes the gross receipts tax as of July 1, 2022 and eliminates the net revenue tax that was scheduled to take effect next year. While not yet signed by the Governor, he is expected to sign the new budget into law in the next few days.
Should you have any questions regarding the above, please contact the Garfunkel Wild attorney with whom you regularly work, or contact us at info@garfunkelwild.com.