Ruling 89-16
Controlling Interest Transfer Tax
In answer to your questions:
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the tax is measured by the value of the interest in Connecticut real property.
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the transferor of a controlling interest in the entity is the person subject to the tax.
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a controlling interest is, in the case of a corporation, more than 50% of the total combined voting power of all classes of stock in the corporation, and, in the case of a partnership, association, trust or other entity, more than 50% of the capital, profits or beneficial interest in the entity.
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the tax is due on or before the last day of the month next succeeding the month in which the transfer of a controlling interest occurs.
LEGAL DIVISION
June 16, 1989