§ 12-340 Tax on transfers of property. Sunset of chapter
§ 12-341 Taxable transfers by persons dying on and after July 1, 1959, and prior to July 1, 1963
§ 12-341a Effective date
§ 12-341b Taxable transfers by persons dying on and after July 1, 1963
§ 12-341c Effective date
§ 12-342 Life, accident and war risk insurance
§ 12-343 Jointly-owned property
§ 12-344 Rates
§ 12-344a Additional amount added to tax
§ 12-344b Applicable rates
§ 12-345 Revocable trusts
§ 12-345a Taxation of property transferred by exercise or nonexercise of a power of appointment
§ 12-345b Taxation of property transferred by exercise or nonexercise of power of appointment: Definitions
§ 12-345c Taxable transfer made, when
§ 12-345d Lapse of power
§ 12-345e Tax liability for transfer of property subject to general power of appointment
§ 12-345f Power created on or before October 21, 1942
§ 12-346 Transfers to executors and trustees in lieu of commissions
§ 12-347 Exemptions
§ 12-348 Declaration by officer of corporation or other entity claiming exemption
§ 12-349 Gross taxable estate
§ 12-349a Effective date
§ 12-350 Net estate of resident transferors; deductions
§ 12-351 Administration expenses not deductible
§ 12-352 Net estate of nonresident transferor; deductions
§ 12-353 Life estates; annuities
§ 12-354 Estate which may be divested
§ 12-355 Compounding of tax. Contingent remainders
§ 12-356 Determination of value of contingent interest by Insurance Commissioner
§ 12-357 Supervision by commissioner
§ 12-358 Reports by clerks of probate courts. Certified copies of wills and papers
§ 12-359 Reports of representatives of transferors
§ 12-363 Jointly-owned real property; certificate of tax payment
§ 12-364 Certificate of release of lien. Regulations
§ 12-365 Administration on taxable transfer
§ 12-366 Lien for taxes. Regulations
§ 12-367 Computation and assessment of tax; objections thereto. Refund of overpayment. When amendment to return not required
§ 12-368 Waiver of hearing on computation of tax
§ 12-369 Action for quieting title to property
§ 12-370 Forms. Reciprocal exchange of information
§ 12-371 Estates of nonresident decedents; cooperation with other states
§ 12-372 Authority to compromise or arbitrate dispute as to decedent’s domicile
§ 12-373 Agreement of compromise to fix amount of tax
§ 12-374 Determination of domicile by arbitration
§ 12-375 Tax due at death
§ 12-376 Payment. Interest. Extensions
§ 12-376a Waiver of interest on tax on certain transfers
§ 12-376b Optional payment in installments up to ten years when interest in closely held business exceeds thirty-five per cent of gross estate
§ 12-376c Extension of time for payment when estate consists primarily of works of art of the decedent
§ 12-376d Tax credit for the value of a work of art accepted by the state from the estate of a deceased artist whose net taxable estate is subject to tax under this chapter
§ 12-377 Temporary payments
§ 12-378 Opinion of no tax due by probate court. Receipts and certificates
§ 12-379 Computation and payment by fiduciary
§ 12-380 Commissioner may compromise tax
§ 12-381 Enforcement against personal property
§ 12-382 Transfers prohibited prior to commissioner’s written consent. Exception in case of certain payments to a beneficiary under retirement plans or contracts and transfers to a surviving spouse
§ 12-383 Penalty for false return or affidavit
§ 12-384 Liability of representatives of estates and transferees
§ 12-385 Enforcement by sale of property
§ 12-386 Legacy charged on real property
§ 12-387 Abatement
§ 12-387a Out-of-state action to collect succession tax; local tax
§ 12-387b Reciprocity
§ 12-387c “Tax” to include interest and penalties
§ 12-388 Certain refunds to estates subject to additional succession tax
§ 12-389 Appointment of attorneys to represent the Commissioner of Revenue Services
§ 12-390 Applicability of this chapter. Continuance in force of former statutes

Terms Used In Connecticut General Statutes > Chapter 216

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • banks: shall include all incorporated banks. See Connecticut General Statutes 1-1
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Commissioner of Revenue Services: means the Commissioner of Revenue Services or his authorized agent. See Connecticut General Statutes 12-1
  • company: means any person, partnership, association, company, limited liability company or corporation, except an incorporated municipality. See Connecticut General Statutes 12-1
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contemplation of death: The expectation of death that provides the primary motive to make a gift.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • farm: includes farm buildings, and accessory buildings thereto, nurseries, orchards, ranges, greenhouses, hoophouses and other temporary structures or other structures used primarily for the raising and, as an incident to ordinary farming operations, the sale of agricultural or horticultural commodities. See Connecticut General Statutes 1-1
  • farming: shall include cultivation of the soil, dairying, forestry, raising or harvesting any agricultural or horticultural commodity, including the raising, shearing, feeding, caring for, training and management of livestock, including horses, bees, the production of honey, poultry, fur-bearing animals and wildlife, and the raising or harvesting of oysters, clams, mussels, other molluscan shellfish or fish. See Connecticut General Statutes 1-1
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Intestate: Dying without leaving a will.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Legacy: A gift of property made by will.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Majority leader: see Floor Leaders
  • Minority leader: See Floor Leaders
  • month: means a calendar month, and the word "year" means a calendar year, unless otherwise expressed. See Connecticut General Statutes 1-1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: means any individual, partnership, company, limited liability company, public or private corporation, society, association, trustee, executor, administrator or other fiduciary or custodian. See Connecticut General Statutes 12-1
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Probate: Proving a will
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • savings banks: shall include savings banks, societies for savings and savings societies. See Connecticut General Statutes 1-1
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.