Connecticut Restores Estate Tax in Move to Balance Budget

Connecticut Restores Estate Tax in Move to Balance Budget - New York Times: Connecticut has followed the path of New Jersey and New York in its new budget, approved June 7, 2005, by the reinstitution of a state estate tax. As with New Jersey and New York, this new tax will be generating dollars offset by the the current federal estate tax roll-back, which was partially funded by eliminating the sharing of federal estate taxes with the states. Connecticut's estate tax will tax estates valued at $2 million or more, beginning at about 5 percent and topping out at about 16 percent.