Title 12 — Title 12: Taxation
61 chapters · 1,387 sections in this title.
Conn. Gen. Stat. § 12-640 Imposition of gift tax.
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Sec. 12-640. Imposition of gift tax. For the calendar year 1991 and each year thereafter, a tax computed as provided in section 12-642 is hereby imposed on the transfer of property by gift during such taxable year by any individual resident or nonresident provided, for the calend…
Conn. Gen. Stat. § 12-641 Tax not applicable to transfers outside the state.
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Sec. 12-641. Tax not applicable to transfers outside the state. The provisions of this chapter shall not apply to the transfer of tangible personal property and real property having a situs outside the state of Connecticut. (June Sp. Sess. P.A. 91-3, S. 137, 168.) History: June S…
Conn. Gen. Stat. § 12-642 Rate of tax. Aggregate limit on tax imposed.
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Sec. 12-642. Rate of tax. Aggregate limit on tax imposed. (a)(1) With respect to calendar years commencing prior to January 1, 2001, the tax imposed by section 12-640 for the calendar year shall be at a rate of the taxable gifts made by the donor during the calendar year set fort…
Conn. Gen. Stat. § 12-643 Definitions.
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Sec. 12-643. Definitions. (1) “Taxable gifts” means the transfers by gift which are included in taxable gifts for federal gift tax purposes under Section 2503 and Sections 2511 to 2514, inclusive, and Sections 2516 to 2519, inclusive, of the Internal Revenue Code of 1986, or any …
Conn. Gen. Stat. § 12-644 Returns.
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Sec. 12-644. Returns. (a) Any individual, whether resident or nonresident, liable for a return under this chapter, who in the calendar year makes any transfer by gift not excluded in this chapter shall make a return with respect to the gift tax imposed by this chapter. (b) If the…
Conn. Gen. Stat. § 12-645 Date of filing of returns. Exception.
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Sec. 12-645. Date of filing of returns. Exception. Returns required under this chapter shall be filed on or before the fifteenth day of April following the close of the calendar year except where a gift is made during the calendar year in which the donor dies, the return with res…
Conn. Gen. Stat. § 12-646 Appraisal of property by commissioner. Declaration by donor.
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Sec. 12-646. Appraisal of property by commissioner. Declaration by donor. The Commissioner of Revenue Services may require the donor or the donee to show the property subject to the tax, as provided in this chapter, to the commissioner upon demand and may employ a suitable person…
Conn. Gen. Stat. § 12-646a Value of farm transferred by gift.
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Sec. 12-646a. Value of farm transferred by gift. (a) In determining the tax due under the provisions of this chapter, the value of any farm land, as defined in section 12-107c, transferred by a donor by gift to a donee who is a lineal descendant or spouse thereof, shall be determ…
Conn. Gen. Stat. § 12-647 Payment of tax. Penalty for late payment. Extensions. Changes in federal gift tax. Overpayments.
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Sec. 12-647. Payment of tax. Penalty for late payment. Extensions. Changes in federal gift tax. Overpayments. (a) The tax imposed under this chapter shall be due and payable by the donor no later than April fifteenth following the close of the calendar year during which the gift …
Conn. Gen. Stat. § 12-648 Credit against succession tax.
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Sec. 12-648. Credit against succession tax. A credit shall be allowed against the tax imposed under chapter 216 in the amount of any tax imposed and paid under sections 12-640 to 12-649, inclusive, with respect to a gift includable in the gross taxable estate of the donor under s…
Conn. Gen. Stat. § 12-649 Records. Penalties. Administration. Appeals. Collection. Liens.
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Sec. 12-649. Records. Penalties. Administration. Appeals. Collection. Liens. The provisions of sections 12-548 to 12-554, inclusive, and section 12-555a shall apply to the provisions of this chapter in the same manner and with the same force and effect as if the language of said …