(a) A tax is hereby imposed with respect to any resident estate or nonresident estate for each taxable year commencing on or after January 1, 1982, at the rate of ten per cent on the taxable income of such estate for such taxable year in excess of twenty thousand dollars.

Terms Used In Connecticut General Statutes 12-405b

  • Fiduciary: means the executor or administrator of a resident estate or a nonresident estate, whether or not such executor or administrator is a taxpayer. See Connecticut General Statutes 12-405a
  • Nonresident estate: means any estate which is not a resident estate in this state. See Connecticut General Statutes 12-405a
  • Resident estate: means the estate of a decedent who at the time of death was domiciled in this state. See Connecticut General Statutes 12-405a
  • Taxable income: means the taxable income of any estate for the taxable year, as determined for purposes of the federal income tax in accordance with Internal Revenue Form 1041, including in such determination the deduction from total income related to income distribution and each other deduction allowed in computing the federal income tax liability of such estate for the taxable year. See Connecticut General Statutes 12-405a
  • Taxable year: means the calendar year upon the basis of which the taxpayer's taxable income is computed under this chapter unless a fiscal year other than the calendar year has been established for purposes of the federal income tax, in which case it means the fiscal year so established. See Connecticut General Statutes 12-405a

(b) Any taxable income with respect to which the fiduciary of any estate is liable for tax in accordance with this chapter shall not be subject to tax under chapter 224.

(c) Any fiduciary of a nonresident estate, the taxable income of which fiduciary as reported on the federal fiduciary income tax return is in excess of twenty thousand dollars, shall be deemed a “taxpayer” for purposes of the filing of any return or other documents required by § 12-405c, 12-405d or 12-405k.