706 instructions Form

706 instructions Form: What You Should Know

Gov 2523 Connecticut Estate Tax Return — CT.gov Form CT-706. Connecticut Estate Tax Return. Connecticut's estate tax is calculated as a tax on the fair market value of the decedent's property and the value of other assets of the decedent's estate and must be filed electronically (and the required information can be obtained by calling the Tax Department at). CT's estate tax return deadlines are calculated using the same rules as the U.S. estate tax return, i.e. the date that the tax is due is 1 week from the date that a 1099-K is filed with the Office of the Chief Financial Officer. The tax is due in accordance with the law or, after the date of the tax return, is due within 30 days after the date of mailing or publication. A copy of the Connecticut estate tax return, in the form of the actual paper form, must be mailed before the due date.  The Connecticut estate tax return provides the same information on the decedent, including the decedent's taxable income for the year of death. There is no statute of limitations on Connecticut estate tax return. Connecticut's estate tax is not assessed against the estate, but against the surviving spouse. A decedent's exempt property from Connecticut is not taxed, but the value of that property included in the property taxable valuation for estate tax purposes is taxable regardless of whether it was transferred to the decedent or not. Connecticut's property taxes due are assessed only and have no impact on the income and expenses of a decedent. A deceased decedent's estate can only receive the following property and cash from persons other than the decedent's estate: a. Estate cash. b. Estate in trust. c. Unused payments made to a decedent's qualified health care facility (including the cost of medical services and materials and the value of a person that performed those services) d. Non-monetary gifts that were or become receivable, from a donor's estate, after the date of death. e. Any property, other than cash, that was received by a decedent in the decedent's lifetime. f. Any other item of property and cash that the decedent's estate is entitled to receive.

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