Estate & Gift Tax, Succession Tax, Trust & Estate Income Tax
This tax applies to estates of decedents dying on or after January 1, 2005. For estates of Connecticut residents or nonresidents owning real or tangible personal property located in Connecticut the following filing requirements apply
If the taxable estate is less than or equal to $2 million, and no Connecticut QTIP election is made, file Form CT-706 NT with the Connecticut Probate Court.
If the taxable estate is more than $2 million, or a Connecticut QTIP election is made, file Form CT-706/709 with the DRS and provide a copy to the Connecticut Probate Court.
This tax only applies to decedents dying on or before December 31, 2004. A succession tax return must be filed for all deceased Connecticut residents and for all deceased nonresidents owning real or tangible personal property located in Connecticut, even if no tax is due.
Trust and Estate Income Tax
The fiduciary of a Connecticut resident trust or estate or part-year resident trust must file Form CT-1041 if the trust or estate:
- Is required to file a federal Form 1041 for the taxable year; or
Had any Connecticut taxable income for the taxable year.
The fiduciary of a nonresident trust or estate must file Form CT-1041 if the trust or estate:
Had income derived from or connected with sources within Connecticut;
Incurred a net operating loss for Connecticut income tax purposes, but not for federal income tax purposes; or
Incurred a net passive activity loss or net capital loss for Connecticut income tax purposes, but did not incur a net passive activity loss or net capital loss, respectively, for federal income tax purposes.