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Although the Connecticut Estate and Gift Tax, like the Federal Estate and Gift Tax, is a unified system of taxing gifts and estates, there is no longer any direct connection between the state and federal taxes. With respect to individuals dying on or after January 1, 2005, the Connecticut Estate and Gift Tax will be determined with reference to the tax table set forth in Ce.G.S. §12-39(g).
The tax applies to Connecticut taxable estates of more than $2 million, including Connecticut taxable gifts made on or after January 1, 2005, for deaths occurring between January 1, 2005 and December 31,2009. For deaths occurring on and after January 1, 2010, the applicable amount is $3.5 million.
Connecticut taxable estate means:
- The gross estate less allowable deductions, as determined under Chapter 11 of the IRS Code, plus
- The aggregate amount of Connecticut taxable gifts, as defined in C.G.S. §12-643, made by the decedent for all calendar years beginning on or after January 1, 2005
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Connecticut taxable gifts means:
- Taxable gifts made during a calendar year commencing on or after January 1, 2005, that are
- For residents of Connecticut, taxable gifts wherever located, but excepting gifts of
- real estate or tangible personal property located outside Connecticut, and
- For nonresidents of Connecticut, gifts of real estate or tangible personal property located within Connecticut.
