Major Tax Benefits This Year

April 9, 2024


Low to middle-income workers in Milford have some major tax savings to look forward to when they file their personal income tax returns. This year, the Connecticut Earned Income Tax Credit (EITC) increased to 40% compared to 30.5% in 2023. This means that lower-income filers will receive several hundred dollars in additional tax credits.

The Connecticut EITC is based on the amount of the federal EITC. It is available to those earning less than:

  • $56,838 ($63,698 married filing jointly) with 3 or more qualifying children
  • $52,918 ($59,478 married filing jointly) with 2 qualifying children
  • $46,560 ($53,120 married filing jointly) with 1 qualifying child
  • $17,640 ($24,210 married filing jointly) with no qualifying children

It is estimated that approximately 211,000 households in Connecticut are eligible. 

This benefit comes in addition to the income tax cut for middle-income households earning less than $150,000 for single filers and $300,000 for joint filers. Those cuts, which went into effect on January 1, 2024, reduced the two lowest rates of the state’s progressive tax structure by:

  • Decreasing the rate on the first $10,000 earned by single filers and the first $20,000 by joint filers from 3% to 2%; and
  • Decreasing the rate on the next $40,000 earned by single filers and the next $80,000 by joint filers from 5% to 4.5%
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