CONNECTICUT · GIFT TAX VALUATION
Connecticut Gift Tax Appraisers
Connecticut gift tax appraisal services covering federal Form 709 filings, Connecticut Form CT-706/709 returns, and valuation discounts for closely held interests, prepared in accordance with USPAP. Equity Business Valuation Services appraises closely held businesses, family limited partnership stakes, and fractional interests for gift tax reporting across Connecticut, from Fairfield County to Hartford.
- USPAP-compliant Form 709 and CT-706/709 valuations
- Connecticut and federal gift tax expertise
- Defensible reports for closely held and fractional interests
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Request an Appraisal
Why Connecticut Is Different
Connecticut Is the Only State With Its Own Gift Tax
Connecticut is the only state in the country that imposes its own gift tax, so a lifetime gift of business interests made by a Connecticut resident can create a state filing obligation on top of the federal one. Gifts above the annual exclusion are reported to the IRS on Form 709, and Connecticut collects its own gift tax through Form CT-706/709, filed with the Department of Revenue Services.
When the gift is an interest in a closely held company, a family limited partnership, or a fractional stake, the reported value has to rest on a defensible appraisal. Both the IRS and Connecticut expect a qualified valuation that documents the methodology, the market evidence, and any discounts for lack of control or marketability. That is why an appraisal is generally required for a gift tax return involving business interests.
Our appraisers prepare USPAP-compliant gift tax business valuations built for this exact purpose, and each report explains the analysis behind the number so your filing position holds up if it is ever questioned. Before the engagement begins, we walk you through the documentation you will need for Form 709.
What We Deliver
Gift Tax Valuation Services We Provide in Connecticut
Our appraisers prepare USPAP-compliant business valuations for Connecticut gift tax reporting, from single-share transfers to multi-generational succession plans.
Closely Held Business Valuation
Fair market value of privately held companies for gifts of stock or membership interests reported on Form 709 and CT-706/709.
Family Limited Partnership & LLC Interests
Valuations of limited partnership and LLC interests transferred to heirs, with defensible support for the reported value.
Minority & Fractional Interest Discounts
Analysis of discounts for lack of control and lack of marketability, documented to withstand IRS and Connecticut review.
Family Business Succession Transfers
Valuations that support gifting shares to the next generation as part of a long-term succession plan.
Our Process
How a Connecticut Gift Tax Valuation Works
- 01
Tell Us About the Gift
Share the business, the ownership interest being transferred, and the gift date so we can scope the engagement and quote a fixed fee.
- 02
We Analyze the Business
Our appraisers review financial records, apply recognized valuation methods, and assess market and industry conditions.
- 03
We Prepare Your Report
You receive a USPAP-compliant valuation documenting the value, the methodology, and any applicable discounts.
- 04
File With Confidence
Use the report to support your federal Form 709 and Connecticut Form CT-706/709 filings.
Service Area
Gift tax business valuations for clients anywhere in Connecticut, including Hartford, Stamford, New Haven, and Greenwich
Hartford
Stamford
New Haven
Bridgeport
Greenwich
Norwalk
Danbury
Waterbury
Fairfield
West Hartford
Connecticut Gift Tax FAQ
Connecticut Gift Tax Appraisal Questions
Does Connecticut have its own gift tax?
Yes. Connecticut is the only state in the country with a standalone gift tax. Gifts above the annual exclusion made by a Connecticut resident are reported on Form CT-706/709 to the Connecticut Department of Revenue Services, in addition to the federal Form 709 filed with the IRS. Gifts of business interests on either return should be supported by a qualified appraisal.
Do I need a separate appraisal for the Connecticut and federal gift tax returns?
No. A single USPAP-compliant valuation of the transferred interest supports both your federal Form 709 and your Connecticut Form CT-706/709. The report establishes the fair market value as of the gift date, which is the figure both the IRS and Connecticut rely on.
What kinds of business interests require a gift tax appraisal in Connecticut?
Any gift of a hard-to-value interest generally calls for an appraisal: shares in a closely held corporation, membership units in an LLC, family limited partnership interests, and fractional or minority stakes. Publicly traded securities have a readily determinable value and usually do not, but privately held interests do.
Can you appraise a Connecticut business remotely?
Yes. Business valuations are performed remotely from the financial records and supporting documents you provide, so no site visit is required. We work with clients throughout Connecticut and prepare every report in accordance with USPAP.
Get Started
Request a Connecticut Gift Tax Valuation
Tell us about the business interest you are gifting and we will follow up with next steps and a fixed-fee quote.