Cost Segregation Connecticut
Cost Segregation Study Results
Connecticut, though the third smallest state by area, is the fourth most densely populated state in the U.S. Most of the state’s 3.5 million plus residents live in southern and western Connecticut, which is considered part of the New York Metropolitan Area. Connecticut’s capital is Hartford, while its most populous city is Bridgeport.
Finance and Insurance are the largest industries in the state, generating 16.4% of the state’s GDP, followed by real estate (15.0%) and manufacturing (11.9%). Tourism plays a minor role in the economy, as does gambling at casinos located on Indian reservations in the eastern part of the state. On average, Connecticut has one of the highest per capital personal income rates in the U.S., and as of several years ago, had the third largest number of millionaires per capita in the U. S.
While most of our Connecticut contacts tend to be real estate owners whose assets reside in other states, our O’Connor cost segregation experts manage several studies on Connecticut assets annually. We can help you increase cash flow by reducing your federal income tax burden. Why not start today?
Sample of Actual Study Results
Year of Study
1st Year Additional Depreciation
1st Year Tax Savings
Year 1 Payback
Initial 5 Years Tax Savings
5 Year Payback
* Results from “Catch Up” studies which allow the owner of properties purchased in previous tax years
to benefit from cost segregation in the current tax year without filing amended returns.
** Mid-Quarter depreciation convention utilized due to purchase date.
***Results include bonus depreciation first year calculations.
NOTE: The above listed tax savings are based on a 39.6% tax rate for the owner.