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Report: Growing Numbers Support Repeal of Inheritance Tax

February 13, 2019 | Reprints | Unlock Link | Print

Growing numbers of Democrats in the state legislature are joining their Republican colleagues to support a longtime conservative priority: repealing Connecticut’s inheritance tax.

Support for the cause has spread beyond wealthy – and typically Democratic – Fairfield County, the CT Mirror reported.

The tax raises $200 million a year for the state’s $19 billion budget, the site reports, and applies to applies to estates valued at $3.6 million or more. Estates valued at $5.1 million or less will be exempted beginning in 2020, estates valued at $7.1 million in 2021 and those valued at $9.1 million in 2022.