Malloy task force to assess business taxes

Gov. Dannel P. Malloy has formed a nine-member Business Tax Policy Review Taskforce that will look at Connecticut's current laws with an eye toward expanding job growth.

The task force, to be headed by Department of Economic and Community Development Commissioner Catherine Smith and Department of Revenue Services Commissioner Kevin Sullivan, was formed Thursday by an executive order. Malloy asked the group to offer ideas that would build on legislation that came out of the October 2011 economic summit in Hartford at which the governor and legislature agreed on steps to encourage business growth.

Among the areas that Malloy wants the tax force to examine is the effectiveness of tax credits and other targeted business tax relief, according to his executive order.

"Over the last year, we've made every effort to reinvent our state, so that we could turn around 20 years of job loss and spur our economy," Malloy said in a statement. "This task force will ... closely examin(e) ways to reduce costs, improve efficiency and ensure that taxpayer dollars are being used to create and retain good, permanent jobs for our work force."

Malloy said the task force will be asked to analyze various tax policies' returns on investment and will be charged with developing policies to make Connecticut more competitive with other states.

Task force members, three of whom are to be appointed by the governor, will report their findings and recommendations by Oct. 1. Other members of the task force are the commissioner of the state Labor Department Glenn Marshall or his designee, the secretary of the Office of Policy and Management Benjamin Barnes or his designee and state Treasurer Denise Nappier and state Comptroller Kevin Lembo or their designees.

l.howard@theday.com