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Connecticut Annuity Owners Subject to State-Income-Tax Withholding on 2018 Distributions

Connecticut Annuity Owners Subject to State-Income-Tax Withholding on 2018 Distributions

A new Connecticut Income Tax Regulation (CT H 7312) will go into effect beginning tax-year 2018 which may impact distributions from EquiTrust annuity contracts owned by Connecticut residents.  The new regulation requires EquiTrust to withhold Connecticut-state income taxes for distributions taken by Connecticut residents.

To determine the correct withholding is applied to distributions, a 2018 Form CT-W4P will be mailed to Connecticut annuity owners taking scheduled distributions in 2018.   

Any previously submitted Form CT-W4P withholding request will not apply beginning 2018; the Form must be resubmitted for 2018. 

The Form CT-W4P must be mailed or faxed to EquiTrust. If the completed form is not received, EquiTrust is required to apply the Connecticut income-tax withholding rate of 6.99% to 2018 distributions.


EquiTrust does not offer investment advice to any individual or agent and this material should not be construed as investment advice.
FOR AGENT USE ONLY. NOT FOR USE WITH THE PUBLIC.
 
 

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