Connecticut Economy
The total gross state product for 2006 was $ 204 billion. Per capita income for 2007 was $ 54,117, ranking first among states. There is, however, a huge disparity in income across the state. Although New Canaan has one of the highest per capita income in the United States, Hartford is one of the ten cities with the lowest per capita income in the United States. As with Bridgeport, New Haven, and other cities in the state, Hartford is surrounded by wealthy suburbs.
According to a2zdirectory, New Canaan is the richest city in Connecticut, with a per capita income of $ 85,459. Darien, Greenwich, Weston, Westport, and Wilton also have per capita incomes over $ 65,000. Hartford is the poorest municipality in Connecticut, with a per capita income of $ 13,428 in 2000. There are other low-income and blue-collar populations, mostly cities, in the eastern part of the state.
Taxes
Before 1991, Connecticut had an investment-only tax system. Income from employment is tax-free, but investment income is taxed at 13%, the highest rate in the U.S., without deduction of production costs from investment income, such as investment income. interest on loans.
In 1991, under Governor Lowell P. Weicker, Jr., an independent, the system was changed to one in which taxes on earned income and investment income were equalized at a maximum rate of 4%. Since then, Greenwich, Connecticut, has become home to a number of America’s largest hedge funds. As of 2009, Connecticut’s personal income tax rates are divided into three tax brackets of 3%, 5%, and 6.5%. All wages for Connecticut residents are subject to state income tax, even if earned out of state.
However, in those cases, Connecticut tax revenue must be withheld to the extent that Connecticut tax exceeds the amount withheld by the other jurisdiction. Because New York and Massachusetts have higher tax rates than Connecticut, this effectively means that Connecticut residents working in those states have no Connecticut income tax withheld. Connecticut allows a credit for taxes paid to other jurisdictions, but because residents who work in other states are still subject to Connecticut income tax, tax may be paid if the jurisdictional credit does not fully offset the amount of Connecticut tax..
Connecticut imposes a 6% state tax on the retail sale, lease, or rental of most property. Some items and services are generally not subject to sales and use tax unless specifically listed as taxable persons by law. Specifically, clothing under $ 50 is excluded from sales tax. There are no additional sales taxes imposed by local jurisdictions. During the summer, there is a week when sales tax on certain items and clothing quantities is not imposed in order to assist those with children returning to school. Real estate
Homes in Connecticut vary widely with a median price of about $ 226,000. By contrast, the median home value in Fairfield County, for example, is about $ 370,000. Connecticut has the highest cost homes in the Northeast, and the second most in the nation after California, with 3.3% of homes in Connecticut priced over $ 1 million in 2003.
Industries
The state’s agricultural products include nursery stock, eggs, clams and lobster (shellfish), dairy products, livestock, and tobacco. Its industrial production includes transport equipment, helicopters, especially, nuclear aircraft and submarine parts, heavy machinery and electrical industrial equipment; military weaponry; manufacture of metal products, chemical and pharmaceutical products, and scientific instruments.
Due to the importance of the aviation industry in the state, Connecticut has an official state aircraft, the F4U Corsair, and a pioneering Connecticut aviation official, Igor Sikorsky. Aircraft designer Gustav Whitehead is officially recognized by the State as the “Father of Connecticut Aviation” for his research on power flight in Bridgeport, Connecticut in 1901, two years before the Wright brothers tried it on the Kitty Hawk in North Carolina. Governor John Dempsey also declared August 15 “Gustave Whitehead Day.”
A report released by the Connecticut Commission on Culture and Tourism on December 7, 2006, showed that the economic impact of the arts, film, history, and tourism generated more than $ 14 billion in economic activity and 170,000 jobs per year. anus. This provides $ 9 billion in personal income for Connecticut residents and $ 1.7 billion in state and local income.
In November 2010, the state’s unemployment rate was 9%.
KentFalls State Park
Connecticut consists of temperate broadleaf and mixed forests. The northeastern coastal forests are oak, hickory, and maple and cover much of the state. In the northwest, these shape the New England-Acadian forests of the Taconic Mountains.
The northern border of the state of Massachusetts is marked with the distinctive Southwick Jog or Granby Notch, a detour of approximately 2.5 square miles (4.0 km) in Connecticut. The true origin of this anomaly is clearly established in a long series of disputes and temporary agreements that was finally concluded in 1804, when the south of Southwick, (whose residents tried to leave Massachusetts), was divided in half.
Connecticut’s southwestern border, where it adjoins New York State, is marked by a language of territory in Fairfield County, which contains the cities of Greenwich, Stamford, New Canaan, Darien, and part of Norwalk. This irregularity on the border is the result of territorial disputes in the 17th century, culminating when New York gave up its claim to the area, whose residents were considered part of Connecticut, in exchange for an area equivalent to expanding north from Ridgefield toward the Massachusetts border.
Areas maintained by the National Park Service are:. Appalachian National Scenic Trail; Quinebaug and Shetucket Rivers Valley National Heritage Corridor and Weir Farm National Historic Site.
