Connecticut Gift Tax Forces Ultra Wealthy to Move: Darien Man

DARIEN, CT — A Darien man who was born and raised in Connecticut said he is looking for a residence outside of the state to avoid its 12 percent gift tax for when he dies.

David DeLucia wrote in a Courant opinion piece that he was taxed at the ordinary income level, which comes out to about 50 percent. When he dies 40 percent of his fortune will go to the federal government in the form of an estate tax.

DeLucia argues that rich people have the mobility to easily move to a more tax-friendly state and that the tax savings are more than enough to make up for the costs of moving.

"The vast majority of my very wealthy empty nester friends have done this and others in the same position will move when the time is right," he wrote. "It is simply too high a price to stay."

Read his full piece at the Courant.