1. (a) The Commissioner of Revenue Services shall, on or before December 15, 2023, and biennially thereafter, submit to the joint standing committee of the General Assembly having cognizance of matters relating to finance, revenue and bonding, and post on the department's Internet web site a report on the overall incidence of the income tax, sales and excise taxes, the corporation business tax and property tax, for each of the most recent ten tax years for which complete data are available. The report shall include incidence projections for each such tax and shall present information on the distribution of the tax burden as follows:

   1. (1) For individuals:

      1. (A) Income classes, including income distribution expressed for (i) every ten percentage points, (ii) the top five per cent of all income taxpayers, and (iii) the top one per cent of all income taxpayers; and
      2. (B) Other appropriate taxpayer characteristics, as determined by said commissioner.

   2. (2) For businesses:

      1. (A) Business size as established by gross receipts;
      2. (B) Legal organization; and
      3. (C) Industry by NAICS code.
2. (b) The Commissioner of Revenue Services may enter into a contract with any public or private entity for the purpose of preparing the report required pursuant to subsection (a) of this section.

(P.A. 13-247, S. 330; June Sp. Sess. P.A. 15-5, S. 123; May Sp. Sess. P.A. 16-3, S. 192; June Sp. Sess. P.A. 17-2, S. 108; P.A. 19-117, S. 92; P.A. 22-118, S. 460.)

History: P.A. 13-247 effective July 1, 2013; June Sp. Sess. P.A. 15-5 changed deadline for incidence report from December 31, 2014, and biennially thereafter, to February 15, 2017, and biennially thereafter, effective June 30, 2015; May Sp. Sess. P.A. 16-3 amended Subsec. (a) by changing deadline for incidence report from February 15, 2017, and biennially thereafter, to February 15, 2018, and biennially thereafter, and making a technical change, effective June 2, 2016; June Sp. Sess. P.A. 17-2 amended Subsec. (a) by replacing “February 15, 2018” with “February 15, 2020”, effective October 31, 2017; P.A. 19-117 amended Subsec. (a) by replacing “2020” with “2022”, effective June 26, 2019; P.A. 22-118 amended Subsec. (a) by replacing “February 15, 2022” with “December 15, 2023”, adding provisions re incidence report for each of the most recent 10 tax years for which complete data are available and incidence projections for each tax, and requiring, for individuals, tax burden distribution information for the top 5 and the top 1 per cent of all income taxpayers, effective July 1, 2022.