Connecticut Estate and Gift Tax

Is the Connecticut Estate and Gift Tax Determined in the Same Manner as the Federal Estate Tax?

No. 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 C.G.S. §12-391(g). The tax applies to Connecticut taxable estates of more than two million dollars, including Connecticut taxable gifts made on or after January 1, 2005. “Connecticut taxable estate” means (A) the gross estate less allowable deductions, as determined under Chapter 11 of the Internal Revenue Code, plus (B) the aggregate amount of all Connecticut taxable gifts, as defined in section 12-643, made by the decedent for all calendar years beginning on or after January 1, 2005. “Connecticut taxable gifts” mean taxable gifts made during a calendar year commencing on or after January 1, 2005, that are: (1) for residents of this state, taxable gifts wherever located, but excepting gifts of real estate or tangible personal property located outside this state, and (2) for nonresidents of this state, gifts of real estate or tangible personal property located within this state. More information is available on the Web site for the Department of Revenue Services at www.drs.state.ct.us.*

* from the Connecticut Document “The Probate Court and You”