§ 12-638a Definitions
§ 12-638b Tax on transfer of controlling interest in entity possessing real property. Rate of tax applied to the value of the real property
§ 12-638c Filing return and payment of tax. Penalty and waiver provisions. Regulations
§ 12-638d Examination of records. Deficiency assessment. Penalty. Limitation of assessment period
§ 12-638e Excess payments
§ 12-638f Claims for refund
§ 12-638g Wilful violations. Penalties
§ 12-638h Records. Examinations. Hearings. Testimony
§ 12-638i Application to commissioner for hearing
§ 12-638j Collection of tax. State lien against real estate as security for tax
§ 12-638k Certain portion of tax collected to be remitted to town in which the real property is located
§ 12-638l Additional tax imposed with that under section 12-638b when the real property conveyed is classified as open space, maritime heritage, farm or forest land at the time of transfer
§ 12-638m Payment of tax imposed by section 12-638l. Classification of the land terminates automatically
§ 12-638n Transfers not subject to the tax under section 12-638l
§ 12-638o Filing and collection provisions related to the tax under sections 12-638l to 12-638n, inclusive
§ 12-638p Certain records to be kept by any entity with respect to which a sale or transfer of controlling interest in such entity is subject to tax under this chapter
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Terms Used In Connecticut General Statutes > Chapter 228b - Controlling Interest Transfer Tax

  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • commissioner: means the Commissioner of Revenue Services, and (2) "controlling interest" means (A) in the case of a corporation, more than fifty per cent of the total combined voting power of all classes of stock of such corporation, and (B) in the case of a partnership, association, trust or other entity, more than fifty per cent of the capital, profits or beneficial interest in such partnership, association, trust or other entity. See Connecticut General Statutes 12-638a
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • farm: includes farm buildings, and accessory buildings thereto, nurseries, orchards, ranges, greenhouses, hoophouses and other temporary structures or other structures used primarily for the raising and, as an incident to ordinary farming operations, the sale of agricultural or horticultural commodities. See Connecticut General Statutes 1-1
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Grantor: The person who establishes a trust and places property into it.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • month: means a calendar month, and the word "year" means a calendar year, unless otherwise expressed. See Connecticut General Statutes 1-1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: means any individual, partnership, company, limited liability company, public or private corporation, society, association, trustee, executor, administrator or other fiduciary or custodian. See Connecticut General Statutes 12-1
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.