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When giving a car as a gift what taxes does the person receiving the gift have to pay in Connecticut?
Wiki User
∙ 15y ago
No sales and use tax is due on a vehicle or vessel received as a gift. A Motor Vehicle or Vessel Gift Declaration AU-463 is required, signed by the donor. The donor cannot receive any consideration (cash, property, service, assumption of debt, etc.) in return. Please be aware that a donor who gives a motor vehicle or vessel may be subject to the Connecticut Gift Tax. Generally, the gift tax is imposed on the transfer of property by gift during each calendar year. The tax is measured by taxable gifts, as defined for federal gift tax purposes. For more information on tax exemption, please contact the Department of Revenue Services . Any vehicle exempt from the sales tax can not be transferred if delinquent tax is owed on the vehicle. If the registration is suspended, the vehicle can not be transferred to an immediate family member. Content Last Modified on 1/7/2006 10:07:24 AM Reprinted from Ct DMV Website at: http://www.ct.gov/dmv/cwp/view.asp?a=814&Q=245262&dmvPNavCtr=|39525|
Wiki User
∙ 15y ago
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