Serious about attracting and retaining STEM talent, The State of Connecticut created a refundable personal income tax credit of up to $2500 for qualifying college graduates in STEM fields as part of the budget passed in November, 2017.
In a very tough budget year, the passing of this tax credit underscores just how critical STEM talent is to the future of Connecticut.
Here are the specifics: “Beginning with the 2019 tax year Connecticut has established a refundable personal income tax credit for college graduates who are employed in the state; receive, on or after January 1, 2019, a bachelor’s, master’s, or doctoral degree in a science, technology, engineering, or math (STEM) field; and live in Connecticut or move here within two years after graduating. The credit is $500 and may be claimed in each of the five years after graduation.”
The details will be issued by the Connecticut Department of Revenue Services for the tax year of 2019.