Sec.1-81-5. Description of income

(a) As used in section 1-83(b)(1)(B) of the Connecticut General Statutes, “income” means all income from whatever source derived, including but not limited to: earned income (such as compensation for services), fees, commissions, salaries, wages, tips, bonuses, gross income derived from business, capital gains, interest, rents, royalties, dividends, annuities, gifts, honoraria, lottery or other gambling winnings, income from the investment portion of life insurance and endowment contracts, pensions, income from discharge of indebtedness or debt forgiveness, assignment or receipt of property interests or rights, distributive share of partnership income, and income from any interest in an estate or trust. The term includes all income items, whether tangible or intangible, regardless of whether they are taxable for Federal or State income tax purposes and regardless of whether legally obtained.

(b) The description of each source of income identified as a gift shall include:

(1) the identity and occupation of the donor. If a gift has more than one donor, the filer shall provide the necessary information for each donor;

(2) a brief description of the gift.

(c) For purposes of section 1-83(b)(1)(B) of the Connecticut General Statutes, political campaign funds, including campaign receipts and expenditures, need not be included in any report filed under this part.

(Adopted effective June 24, 2009; Amended May 11, 2023)