2022 Connecticut General Statutes
Title 12 - Taxation
Chapter 228c - Gift Tax
Section 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 subsequent corresponding internal revenue code of the United States, as amended from time to time, less the deductions allowed in Sections 2522 to 2524, inclusive, of said Internal Revenue Code, except in the event of repeal of the federal gift tax, then all references to the Internal Revenue Code in this section shall mean the Internal Revenue Code as in force on the day prior to the effective date of such repeal.
(2) In the administration of the tax under this chapter, the Commissioner of Revenue Services shall apply the provisions of Sections 2701 to 2704, inclusive, of said Internal Revenue Code. The words “secretary or his delegate” as used in the aforementioned sections of the Internal Revenue Code means the Commissioner of Revenue Services.
(3) “Connecticut taxable gifts” means taxable gifts made during a calendar year commencing on or after January 1, 2005, that are, (A) for residents of this state, taxable gifts, wherever located, but excepting gifts of real estate or tangible personal property located outside this state, and (B) for nonresidents of this state, gifts of real estate or tangible personal property located within this state.
(4) “Federal basic exclusion amount” means the dollar amount published annually by the Internal Revenue Service over which a donor would owe federal gift tax based on the value of the donor's federally taxable gifts.
(June Sp. Sess. P.A. 91-3, S. 139, 168; P.A. 97-243, S. 41, 67; P.A. 05-251, S. 68; P.A. 06-196, S. 227; June Sp. Sess. P.A. 17-2, S. 634; P.A. 18-49, S. 18; P.A. 22-110, S. 17; 22-117, S. 19.)
History: June Sp. Sess. P.A. 91-3, S. 139 effective August 22, 1991, and applicable to gifts made on or after September 1, 1991; P.A. 97-243 clarified that the commissioner is to apply Secs. 2701 to 2704 of the Internal Revenue Code, effective June 24, 1997, and applicable to calendar years commencing on or after January 1, 1997; P.A. 05-251 divided section into Subsecs. (a) and (b), amended Subsec. (a) by adding provision re repeal of federal gift tax and added Subsec. (c) re definition of “Connecticut taxable gifts”, effective June 30, 2005, and applicable to calendar years commencing on or after January 1, 2005; P.A. 06-196 made a technical change in Subsec. (a), effective June 7, 2006; June Sp. Sess. P.A. 17-2 redesignated existing Subsecs. (a) to (c) as Subdivs. (1) to (3) and made technical and conforming changes, and added Subdiv. (4) re definition of “federal basic exclusion amount”, effective January 1, 2018, and applicable to gifts made on or after January 1, 2018; P.A. 18-49 deleted former Subdiv. (4) re definition of “federal basic exclusion amount”, effective May 31, 2018; P.A. 22-110 added Subdiv. (4) defining “federal basic exclusion amount”; P.A. 22-117 made identical change as P.A. 22-110.
