B
is investigating Total Wine’s pricing methods in the wake of the suit and its running newspaper ads touting prices below the minimum. The Connecticut Liquor Control Division said it is also investigating both chains. Total Wine operates a store in Norwalk, while BevMax has two outlets each in Stamford and Bridgeport, as well as stores in Norwalk and Danbury.
BRIEFLY
BEVMAX JOINS FIGHT AGAINST STATE’S MINIMUM PRICING LAW FOR ALCOHOL
The burgeoning battle over Connecticut’s law mandating minimum pricing for alcoholic beverages has been joined by another retailer, as Stamford-based BevMax has announced it is beginning to sell certain products in its stores at cost. “Connecticut residents deserve fair market pricing on everything they buy, whether it be food, clothing or wine, liquor and beer,” said BevMax CEO Michael Berkoff. “We’re taking this action because we’re committed to providing the best quality products to our customers at the most competitive pricing.” The company’s move comes in the wake of Total Wine & More’s announcement Aug. 23 that it had filed suit in U.S. District Court in Connecticut contesting the law, designed to protect independent alcohol retailers from larger chains who buy and sell their inventory in bulk and thus can undercut the independents’ prices. Total Wine’s suit maintains that the law constitutes restraint of trade and is a violation of the federal Sherman Antitrust Act. The Department of Consumer Protection
KIPLINGER: CONNECTICUT IS NATION’S THIRD LEAST TAX-FRIENDLY STATE
Another day, another bad survey result for Connecticut. According to its annual report on the least tax-friendly states in the country, Kiplinger found that the Constitution state lags behind only California and Hawaii. The Washington, D.C.-based publisher of business forecasts and personal finance advice ranks states according to income, sales, gas and property taxes. Kiplinger reported that Connecticut’s income tax ranges from 3 percent to 6.9 percent; its sales tax is 6.35 percent; and the state charges 38 cents on every gallon of gasoline. Property taxes are the fourth highest in the nation, with the median property tax on a median home value of $267,200 listed at $5,369. Connecticut is also the only state besides Minnesota with a gift tax. “Connecticut faces serious financial pressures that could force it to raise taxes even more,” according to the report. “The state has more than $83 billion in
unfunded pensions, and total liabilities exceed its assets by 34 percent, according to the Mercatus Center at George Mason University, which ranks Connecticut 50th in its analysis of states’ fiscal health.” New York and New Jersey ranked fifth and sixth, respectively, on the list of least taxfriendly states.
CASH HOME SALES IN BRIDGEPORTSTAMFORD-NORWALK DOWN IN MAY
The cash sales share of total home sales in Bridgeport-Stamford-Norwalk was down for the month of May over the same period last year and sits at 25.8 percent, a 3.8 percentage point decrease compared with May 2015, according to research firm CoreLogic. The cash sales share in BridgeportStamford-Norwalk was lower than the 30 percent national rate, which itself was down 2.5 percentage points from May 2015. Alabama had the largest cash sales share of any state at 45.2 percent, followed by New York (45.1 percent), Florida (42.4 percent), New Jersey (36.4 percent) and Indiana (36 percent). Of the nation’s largest 100 Core Based Statistical Areas (CBSAs) measured by population, Detroit-Dearborn-Livonia, Mich., had the highest cash sales share at 53.4 percent, followed by West Palm Beach-Boca Raton-Delray Beach, Fla. (52.3 percent), Philadelphia, Penn. (52 percent), North Port-Sarasota-Bradenton, Fla. (50.3 percent) and Cape Coral-Fort Myers, Fla. (49.3 percent). Syracuse, N.Y., had the lowest cash sales share at 13.7 percent.
CHILD GUIDANCE CENTER APPROVED FOR TAX CREDIT PROGRAM
The Child Guidance Center of Southern Connecticut’s (CGC) Emergency Mobile Psychiatric Services (EMPS) program has been approved by the state’s Department of Revenue Services to receive contributions through the Connecticut Neighborhood Assistance Act (NAA) Tax Credit Program. The program allows businesses to donate to local organizations like CGC and receive a 60 percent tax credit. CGC’s EMPS team serves children and teens in Stamford, Greenwich, Darien and New Canaan, delivering immediate mental health services to high-risk children who may be struggling with suicidal thoughts or behavior, self-harm, depression, extreme anxiety, or trauma. Last year, CGC said its staff stabilized crisis situations for 93 percent of the children and teens who received its Emergency Mobile Psychiatric Services. Businesses wishing to receive a tax credit under the NAA program are required to complete the NAA-02 form for each program it wishes to sponsor. The contribution must be cash (minimum $250, maximum $150,000) and needs to be made in the corporation’s income year that corresponds to the same year as the approved program. Form NAA-02 must be submitted to the Department of Revenue Services between Sept. 15 and Oct. 3, 2016. —Kevin Zimmerman
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