Brace yourself and get ready to spend more money starting today.
The state income tax increase that the Legislature approved last spring will goes into effect in August and the tax is retroactive to Jan. 1, meaning people have only five months to pay a year's worth of a tax increase.
The governor's office released a tax withholding table in May to show how you will be affected.
While you might not notice the tax itself at first, with time, people will feel the pinch and it could impact the way they spend money.
Peter Gioia, vice president of the Connecticut Business & Industry Association, told the, the Day of New London that income tax increases will create a negative domino effect and the "reduced spending power of state consumers, combined with lower income for business people paying personal income taxes could hurt Connecticut's economy."
