2023 Connecticut General Statutes › Title 12 - Taxation › Chapter 228c - Gift Tax › Section 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 forth in the following schedule:
Amount of Taxable Gifts
Rate of Tax
Not over $25,000
1%
Over $25,000
$250, plus 2% of the excess
but not over $50,000
over $25,000
Over $50,000
$750, plus 3% of the excess
but not over $75,000
over $50,000
Over $75,000
$1,500, plus 4% of the excess
but not over $100,000
over $75,000
Over $100,000
$2,500, plus 5% of the excess
but not over $200,000
over $100,000
Over $200,000
$7,500, plus 6% of the excess
over $200,000
(2) With respect to the calendar years commencing January 1, 2001, January 1, 2002, January 1, 2003, and January 1, 2004, the tax imposed by section 12-640 for each such calendar year shall be at a rate of the taxable gifts made by the donor during the calendar year set forth in the following schedule:
Amount of Taxable Gifts
Rate of Tax
Over $25,000
$250, plus 2% of the excess
but not over $50,000
over $25,000
Over $50,000
$750, plus 3% of the excess
but not over $75,000
over $50,000
Over $75,000
$1,500, plus 4% of the excess
but not over $100,000
over $75,000
Over $100,000
$2,500, plus 5% of the excess
but not over $675,000
over $100,000
Over $675,000
$31,250, plus 6% of the excess
over $675,000
(3) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2005, but prior to January 1, 2010, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, but prior to January 1, 2010, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision:
Amount of Taxable Gifts
Rate of Tax
Not over $2,000,000
None
Over $2,000,000
but not over $2,100,000
5.085% of the excess over $0
Over $2,100,000
$106,800 plus 8% of the excess
but not over $2,600,000
over $2,100,000
Over $2,600,000
$146,800 plus 8.8% of the excess
but not over $3,100,000
over $2,600,000
Over $3,100,000
$190,800 plus 9.6% of the excess
but not over $3,600,000
over $3,100,000
Over $3,600,000
$238,800 plus 10.4% of the excess
but not over $4,100,000
over $3,600,000
Over $4,100,000
$290,800 plus 11.2% of the excess
but not over $5,100,000
over $4,100,000
Over $5,100,000
$402,800 plus 12% of the excess
but not over $6,100,000
over $5,100,000
Over $6,100,000
$522,800 plus 12.8% of the excess
but not over $7,100,000
over $6,100,000
Over $7,100,000
$650,800 plus 13.6% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$786,800 plus 14.4% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$930,800 plus 15.2% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$1,082,800 plus 16% of the excess
over $10,100,000
(4) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2010, but prior to January 1, 2011, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $3,500,000
None
Over $3,500,000
7.2% of the excess
but not over $3,600,000
over $3,500,000
Over $3,600,000
$7,200 plus 7.8% of the excess
but not over $4,100,000
over $3,600,000
Over $4,100,000
$46,200 plus 8.4% of the excess
but not over $5,100,000
over $4,100,000
Over $5,100,000
$130,200 plus 9.0% of the excess
but not over $6,100,000
over $5,100,000
Over $6,100,000
$220,200 plus 9.6% of the excess
but not over $7,100,000
over $6,100,000
Over $7,100,000
$316,200 plus 10.2% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$418,200 plus 10.8% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$526,200 plus 11.4% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$640,200 plus 12% of the excess
over $10,100,000
(5) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2011, but prior to January 1, 2018, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3) or (4) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $2,000,000
None
Over $2,000,000
7.2% of the excess
but not over $3,600,000
over $2,000,000
Over $3,600,000
$115,200 plus 7.8% of the excess
but not over $4,100,000
over $3,600,000
Over $4,100,000
$154,200 plus 8.4% of the excess
but not over $5,100,000
over $4,100,000
Over $5,100,000
$238,200 plus 9.0% of the excess
but not over $6,100,000
over $5,100,000
Over $6,100,000
$328,200 plus 9.6% of the excess
but not over $7,100,000
over $6,100,000
Over $7,100,000
$424,200 plus 10.2% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$526,200 plus 10.8% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$634,200 plus 11.4% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$748,200 plus 12% of the excess
over $10,100,000
(6) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2018, but prior to January 1, 2019, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3), (4) or (5) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $2,600,000
None
Over $2,600,000
7.2% of the excess
but not over $3,600,000
over $2,600,000
Over $3,600,000
$72,000 plus 7.8% of the excess
but not over $4,100,000
over $3,600,000
Over $4,100,000
$111,000 plus 8.4% of the excess
but not over $5,100,000
over $4,100,000
Over $5,100,000
$195,000 plus 10% of the excess
but not over $6,100,000
over $5,100,000
Over $6,100,000
$295,000 plus 10.4% of the excess
but not over $7,100,000
over $6,100,000
Over $7,100,000
$399,000 plus 10.8% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$507,000 plus 11.2% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$619,000 plus 11.6% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$735,000 plus 12% of the excess
over $10,100,000
(7) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2019, but prior to January 1, 2020, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3), (4), (5) or (6) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $3,600,000
None
Over $3,600,000
7.8% of the excess
but not over $4,100,000
over $3,600,000
Over $4,100,000
$39,000 plus 8.4% of the excess
but not over $5,100,000
over $4,100,000
Over $5,100,000
$123,000 plus 10% of the excess
but not over $6,100,000
over $5,100,000
Over $6,100,000
$223,000 plus 10.4% of the excess
but not over $7,100,000
over $6,100,000
Over $7,100,000
$327,000 plus 10.8% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$435,000 plus 11.2% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$547,000 plus 11.6% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$663,000 plus 12% of the excess
over $10,100,000
(8) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2020, but prior to January 1, 2021, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3), (4), (5), (6) or (7) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $5,100,000
None
Over $5,100,000
10% of the excess
but not over $6,100,000
over $5,100,000
Over $6,100,000
$100,000 plus 10.4% of the excess
but not over $7,100,000
over $6,100,000
Over $7,100,000
$204,000 plus 10.8% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$312,000 plus 11.2% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$424,000 plus 11.6% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$540,000 plus 12% of the excess
over $10,100,000
(9) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2021, but prior to January 1, 2022, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3), (4), (5), (6), (7) or (8) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $7,100,000
None
Over $7,100,000
10.8% of the excess
but not over $8,100,000
over $7,100,000
Over $8,100,000
$108,000 plus 11.2% of the excess
but not over $9,100,000
over $8,100,000
Over $9,100,000
$220,000 plus 11.6% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$336,000 plus 12% of the excess
over $10,100,000
(10) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2022, but prior to January 1, 2023, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3), (4), (5), (6), (7), (8) or (9) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over $9,100,000
None
Over $9,100,000
11.6% of the excess
but not over $10,100,000
over $9,100,000
Over $10,100,000
$116,000 plus 12% of the excess
over $10,100,000
(11) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2023, including the aggregate amount of all Connecticut taxable gifts made by the donor during all calendar years commencing on or after January 1, 2005, the tax imposed by section 12-640 for the calendar year shall be at the rate set forth in the following schedule, with a credit allowed against such tax for any tax previously paid to this state pursuant to this subdivision or pursuant to subdivision (3), (4), (5), (6), (7), (8), (9) or (10) of this subsection, provided such credit shall not exceed the amount of tax imposed by this section:
Amount of Taxable Gifts
Rate of Tax
Not over the
None
federal basic exclusion amount
Over the
12% of the excess over the
federal basic exclusion amount
federal basic exclusion amount
(b) The tax imposed by section 12-640 shall be paid by the donor. If the gift tax is not paid when due the donee of any gift shall be personally liable for the tax to the extent of the value of the gift.
(c) (1) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2016, but prior to January 1, 2019, the aggregate amount of tax imposed by section 12-640 for all calendar years commencing on or after January 1, 2016, shall not exceed twenty million dollars.
(2) With respect to Connecticut taxable gifts, as defined in section 12-643, made by a donor during a calendar year commencing on or after January 1, 2019, the aggregate amount of tax imposed by section 12-640 for all calendar years commencing on or after January 1, 2016, shall not exceed fifteen million dollars.
(June Sp. Sess. P.A. 91-3, S. 138, 168; P.A. 00-170, S. 8, 42; May 9 Sp. Sess. P.A. 02-1, S. 76; June 30 Sp. Sess. P.A. 03-1, S. 99; P.A. 05-251, S. 67; June Sp. Sess. P.A. 09-3, S. 118; Sept. Sp. Sess. P.A. 09-8, S. 12; P.A. 11-6, S. 87; P.A. 15-244, S. 175; June Sp. Sess. P.A. 17-2, S. 633; P.A. 18-26, S. 33; 18-49, S. 15; 18-81, S. 67.)
History: June Sp. Sess. P.A. 91-3, S. 138 effective August 22, 1991, and applicable to gifts made on or after September 1, 1991; P.A. 00-170 amended Subsec. (a) to modify the rate structure and to provide for a phase-out of the tax on gifts under $1,000,000, which phase-out will be complete after January 1, 2006, effective May 26, 2000; May 9 Sp. Sess. P.A. 02-1 amended Subsec. (a) to delay by two years the phase-out of the tax on gifts under $1,000,000, effective July 1, 2002, and applicable to income years commencing on or after January 1, 2002; June 30 Sp. Sess. P.A. 03-1 amended Subsec. (a) to extend by two years the phaseout of the tax on gifts under $1,000,000, effective August 16, 2003, and applicable to taxable years commencing on or after January 1, 2003; P.A. 05-251 amended Subsec. (a) by replacing rate structure in former Subdivs. (3) to (7) with rate structure in new Subdiv. (3), effective June 30, 2005, and applicable to calendar years commencing on or after January 1, 2005; June Sp. Sess. P.A. 09-3 amended Subsec. (a) by inserting “but prior to January 1, 2010,” in Subdiv. (3) and adding Subdiv. (4) re new rate structure, effective January 1, 2010; Sept. Sp. Sess. P.A. 09-8 amended Subsec. (a)(4) to change “January 1, 2010,” to “January 1, 2005,” and to add provisions re tax previously paid pursuant to Subdiv. (3) and re credit shall not exceed amount of tax imposed, effective October 5, 2009, and applicable to gifts made during calendar years commencing on or after January 1, 2010; P.A. 11-6 amended Subsec. (a) by adding Subdiv. (5) re new tax rates, effective May 4, 2011, and applicable to gifts made during calendar years commencing on or after January 1, 2011; P.A. 15-244 added Subsec. (c) re aggregate cap of $20,000,000 on amount of tax imposed by Sec. 12-640 for all calendar years commencing on or after January 1, 2016, effective June 30, 2015, and applicable to gifts made during calendar years commencing on or after January 1, 2015; June Sp. Sess. P.A. 17-2 amended Subsec. (a) to add Subdivs. (6) to (8) re tax on Connecticut taxable gifts made by donor during calendar years commencing on or after January 1, 2018, 2019, and 2020, respectively, amended Subsec. (c) to designate existing provision re aggregate $20,000,000 cap as Subdiv. (1) and add Subdiv. (2) decreasing aggregate cap to $15,000,000 for Connecticut taxable gifts made by a donor during calendar years commencing on or after January 1, 2019, and made conforming changes, effective October 31, 2017; P.A. 18-26 amended Subsec. (a)(6) to replace “$399,900” with “$399,000” in provision re tax rate for Connecticut taxable gifts over $7,100,000 but not over $8,100,000, made by a donor on or after January 1, 2018, but prior to January 1, 2019, effective May 29, 2018; P.A. 18-49 amended Subsec. (a)(8) to replace rates for tax on Connecticut taxable gifts made by donor during calendar years commencing on or after January 1, 2020, with new tax rates with lowest threshold of not over $5,490,000, effective May 31, 2018; P.A. 18-81 amended Subsec. (a) to replace “$399,900” with “$399,000” in provision re tax rate for Connecticut taxable gifts over $7,100,000 but not over $8,100,000, made by a donor on or after January 1, 2018, but prior to January 1, 2019, in Subdiv. (6), add “but prior to January 1, 2021,” and replace rates for tax on Connecticut taxable gifts made by donor during calendar years commencing on or after January 1, 2020, with new tax rates with lowest threshold of not over $5,100,000 in Subdiv. (8), and add Subdivs. (9) to (11) re tax on Connecticut taxable gifts made by donor during calendar years commencing on or after January 1, 2021, 2022, and 2023, respectively, effective May 15, 2018.
See Sec. 12-391 re estate tax.