For Connecticut residents aiming to use the full $5.12 million federal exemption, the giveaway is complicated by the state gift tax. Connecticut taxes lifetime gifts totaling more than $2 million ...

The same rule applies to the Connecticut state gift tax. You’d owe this after you gift more than what the state allows as a lifetime gift exemption. The top rate on the Connecticut gift tax is 12%.

Explore Connecticut's 2025 state tax rates for income, sales, property, retirement, ... The state also has a gift and estate tax, but most people will not need to worry about it.

The state’s gift and luxury taxes also dragged down the ranking. ... A positive for Connecticut’s tax picture is that local taxes are not added to the state’s 6.35 percent sales tax.

Connecticut, however, is the only state in America that has a gift tax, which is 12 percent. I can understand the state estate tax more than the state gift tax. Why?

Connecticut Gov. Ned Lamont delivers his State of the State address at the State Capitol in Hartford, Jan. 9. Photo: Jessica Hill/Associated Press Connecticut is a gift that keeps on giving to low ...

The General Assembly and Gov. Ned Lamont recently approved one of the largest state tax cuts in Connecticut history, with total relief worth approximately $500 million per year by 2025.

Connecticut recently increased its lifetime gift tax exemption to $2.6 million, and it will continue to climb in the coming years. This means you won’t owe a Connecticut gift tax unless the ...