On October 31, 2017 Governor Daniel P. Malloy signed the new Connecticut State Budget which significantly altered Connecticut's estate and gift tax exemption amount over the coming years.

The law increases the Connecticut basic exclusion amount, which was previously  $2 million per person, to $2,600,000 starting in 2018. As shown below, further increases will be made gradually through January 1, 2020, after which the Connecticut basic exclusion amount will be equal to the federal exemption amount.