{"data":{"id":"us-ct/conn.-gen.-stat.-12-506g","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 12-506g","heading":"Exemption for gains subject to tax as income of a Subchapter S corporation.","body":"Any shareholder in a small business corporation, as defined in Section 1371 of the Internal Revenue Code, which corporation has made an election not to be subject to tax as a corporation under the federal income tax in accordance with Section 1372 of the Internal Revenue Code, shall not be subject to tax under section 12-506 with respect to any gains from the sale or exchange of capital assets, as defined in section 12-505, included in the income of such corporation for purposes of determining the tax imposed on such corporation under chapter 208.","path":["TITLE 12. TAXATION","CHAPTER 224*. DIVIDENDS, INTEREST INCOME AND CAPITAL GAINS TAX"],"source_url":"https://www.cga.ct.gov/current/pub/chap_224.htm#sec_12-506g","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:00Z","sha256":"1bb024a139571552f70e2b73967a73a9d0ae321ce902060449adb08065815562","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-12-506f","next":"us-ct/conn.-gen.-stat.-12-506h"},"notice":"GroundRules: Original legal text. Not legal advice."}