The rates for the bottom bracket ($10,000 for Single; $20,000 for Married) will drop from 3% to 2% and for the next bracket (additional $40,000 for Single; $80,000 for Married) will drop from 5% to 4.5%.
If you are single and earn between $50,000 and $150,000, you save $300.
If you are married and earn between $100,000 and $300,000, you save $600. This tax reduction does not mean much to most Greenwich taxpayers. Everything else remains the same, including CT’s high marginal rates of up to 6.99% - so important to wealthy fleeing to tax free Florida.
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