IncSmart Connecticut (Small Business and Startups) -
Poverty increased in Connecticut for the year 2018. Connecticut is the only state in the union where poverty did not decline according to the US Census Bureau. The two biggest factors for the increase are affordable housing and income. Ten percent of Connecticut residents live in poverty. While Connecticut is one of the wealthiest states per capita, Hartford in close to bankruptcy.
The poverty rate stands at 10.2% and is still one the lowest rate in America, but the numbers are rising. Connecticut is increasing the minimum wage from $10.10 to $11.00 in October, and $15 an hour by 2023. Connecticut's progressive income tax increased have proved to be disastrous for the state. The taxes have also caused a shrinking labor force. There is also a new group of taxes coming into play. From prepared foods to digital downloads, the Connecticut middle class is being taxed out of existence.
IncSmart Staff Writer
Starting a Business in Connecticut
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Connecticut Corporations and Connecticut Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart.
We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place.
Think Smart. Think IncSmart.
Registered Agent Services