Instructions For Form Ct-709 - Connecticut Estate And Gift Tax Return

Line 2

Line 8

Calculate the Connecticut gift tax by using the Gift Tax

Add Lines 5, 6, and 7 and enter the total on Line 8. This

Rate Schedule (on Page 11) and enter the amount on

is your balance due. Pay the amount in full with the

Line 2. (The unified credit allowed to offset gift taxes on

return. Make your check or money order payable to the

lifetime transfers for federal gift tax purposes cannot be

"Commissioner of Revenue Services." Write your

taken for Connecticut gift tax purposes.)

Social Security Number and “1999 Form CT-709” on

the check or money order in the lower left corner. Do

Line 3

not send cash.

Enter the amount, if any, paid with the Form

Sign Here

CT-709 EXT, Application for Extension of Time to

File Connecticut Gift Tax Return.

The donor must sign and date Form CT-709. If the

donor becomes legally incompetent or dies before filing

Line 4

the gift tax return, the donor’s guardian, conservator,

If the amount on Line 3 is greater than Line 2, enter the

executor, or administrator, as the case may be, may sign

amount overpaid.

the return on the donor’s behalf.

Line 5

Paid Preparer Information

If the amount on Line 3 is less than Line 2, enter the

Anyone you pay to prepare your return must sign it by

balance of tax due.

hand in the space provided; signature stamps are not

acceptable.

The preparer’s Federal Employer

Line 6

Identification Number, firm name and firm address must

If you fail to pay the tax when due, interest will be charged

also be entered in the space provided.

at the rate of 1% (.01) per month or fraction of a month

Mailing Your Return

from the due date until payment is made.

Retain a copy of this return for your records. Attach to

Line 7

this return a complete copy of federal Form 709, United

Late Payment Penalty: The penalty for late payment is

States Gift (and Generation-Skipping Transfer) Tax

10% (.10) of the balance due or $50, whichever is greater.

Return, including all attachments, and other documents

listed on Page 15. Use the envelope provided when

Late Filing Penalty: In the event that no tax is due, the

mailing the return.

Commissioner of Revenue Services may impose a $50

penalty for the late filing of any return or report that is

required by law to be filed.

SCHEDULE A - COMPUTATION OF TAXABLE GIFTS

General Instructions

Contributions to Qualified State Tuition

Programs

The information on Schedule A should generally be

identical to the information reported on federal Form 709,

If the donor elects under I.R.C. §529(c)(2)(B) to treat

Schedule A. However, only those gifts subject to

any transfers made this year to a qualified state tuition

Connecticut gift tax should be reported on the Form

program as made ratably over a five-year period

CT-709, Schedule A. For gifts of land classified as

beginning this year, see Form CT-709, Section 1, Line

farmland under Conn. Gen. Stat. §12-107c, the land's

Instructions, C. 2. on Page 11.

value as farmland may differ from that reported on federal

Gifts to Your Spouse

Form 709 Schedule A. (See Gifts of Farmland on

Do not enter any gifts to your spouse on Schedule A

Page 8.)

unless:

You must always enter all gifts of future interests that

•

You gave a gift of a terminable interest to your

you made during the calendar year regardless of value.

spouse;

There is no annual exclusion of $10,000 for gifts of future

•

You gave a gift of a terminable future interest

interest. (See Taxable Gifts on Page 7.)

to your spouse; or

Page 12

Instructions For Form Ct-709 - Connecticut Estate And Gift Tax Return - 1999 Page 12

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