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The newly signed law in part creates an Employer Compensation Expense Program (ECEP) that allows business owners to help their workers maximize deductibility.
“We still need to take steps to close the deficit this year and to avoid one in the (fiscal) year that starts in July,” Gov. Dannel P. Malloy said.
Bob Forrester, president and CEO of the Newman’s Own Foundation, said that it would be extremely difficult to sell the food company to a third party because of its mission of donating all of its profits to charitable works.