Connecticut Connecticut Corporation Business Tax Instructions
Extracted from PDF file 2022-connecticut-form-ct-1120-instructions.pdf, last modified November 2022
Connecticut Corporation Business Tax InstructionsDepartment of Revenue Services State of Connecticut (Rev. 12/22) Form CT-1120 Connecticut Corporation Business Tax Return Instructions For additional information on the Connecticut Corporation Business Tax, visit portal.ct.gov/DRS/Corporation-Tax/ Tax-Information. Attach to Form CT‑1120 a completed copy of the corporation’s federal income tax return, including all schedules and attachments as filed with the IRS. Required Information Enter the beginning and ending dates of the corporation’s income year regardless of whether the corporation is a calendar year or fiscal year filer. Also enter the corporation’s Connecticut Tax Registration Number and FEIN. Enter in the spaces provided the total assets from the corporation’s federal Form 1120, U.S. Corporation Income Tax Return, Schedule L, Line 15, Column (d), and the amount from federal Form 1120, Line 11 (see Form CT‑1120, Schedule C, Line 1b). Also enter the North American Industry Classification System (NAICS) code for principal business activity. NAICS Code for Principal Business Activity Enter the North American Industry Classification System (NAICS) code for your principal business activity. General information concerning the classification of principal business activity under NAICS can also be found at www.census.gov/naics. Requesting a Refund for the Student Loan Payment Tax Credit Credit to be Issued in the Form of a Refund Application Procedure Check the Yes box if the corporation is requesting a refund for the Student Loan Payment tax credit available under Conn. Gen. Stat. § 12‑217qq. Enter the amount of credit to be issued in the form of a refund requested in the space provided on Page 1 of Form CT‑1120. File Form CT‑RSLP, Application for Refund of Student Loan Payment Tax Credits by a Qualified Small Business, separately from Form CT‑1120. Attach Form CT‑SLP, Student Loan Payment Tax Credit, and all required supporting schedules and documentation to Form CT‑RSLP. At the same time as filing Form CT‑1120, mail the completed application and supporting information to: Department of Revenue Services PO Box 150420 Hartford, CT 06115-0420 Exchange of Research and Development Tax Credits Credit to be Issued in the Form of a Refund Application Procedure Check the Yes box if the corporation is exchanging Research and Development tax credits available under Conn. Gen. Stat. §§ 12‑217j or 12‑217n, for a credit to be issued in the form of a refund equal to 65% of the value of the credit, subject to certain limitations. Enter the amount of credit to be issued in the form of a refund requested in the space provided on Page 1 of Form CT‑1120. 2022 File Form CT‑1120 XCH, Application for Exchange of Research and Development or Research and Experimental Expenditures Tax Credits by a Qualified Small Business, separately from Form CT‑1120. Attach Form CT‑1120RC, Research and Experimental Expenditures Tax Credit, or Form CT‑1120 RDC, Research and Development Expenditures Tax Credit, and all required supporting schedules and documentation to Form CT‑1120 XCH. At the same time as filing Form CT‑1120, mail the completed application and supporting information to: Department of Revenue Services PO Box 150420 Hartford, CT 06115-0420 Schedule A - Computation of Tax on Net Income A corporation entitled to apportion its net income must complete either Form CT-1120A, Corporation Business Tax Return Apportionment Computation, or one of the special apportionment forms listed below: • Air carriers use Form CT-1120A-A, Corporation Business Tax Return Apportionment Computation – Air Carriers. • Motor bus companies and motor carriers engaged in multistate business use Form CT-1120A- BMC, Corporation Business Tax Return Apportionment Computation – Motor Bus and Motor Carrier Companies. • Financial service companies use Form CT‑1120A‑FS, Corporation Business Tax Return Apportionment Computation of Income From Financial Service Company Activities. • Broadcasters and production entities use Form CT‑1120A‑BPE, Corporation Business Tax Return Apportionment Computation – Broadcasters and Production Entities. • Corporations that receive income from rendering securities brokerage services use Form CT‑1120A‑SBC, Corporation Business Tax Return Apportionment Computation – Securities Brokerage Services. • Corporations that receive income from credit card activities use Form CT‑1120A‑CCA, Corporation Business Tax Return Apportionment Computation of Income From Credit Card Activities. • If a corporation is a limited partner in one or more limited partnerships, other than an investment partnership, and is not otherwise carrying on or doing business in Connecticut, the partnership may elect for any income year to apportion its net income using Form CT‑1120A‑LP, Corporation Business Tax Return Apportionment of Limited Partnership Interests. • Corporations that receive income from rendering services to or on behalf of regulated investment companies use Form CT‑1120A‑IRIC, Corporation Business Tax Return Apportionment Computation of Income From Services to Regulated Investment Companies. Line 2 - Enter the appropriate apportionment fraction from Form CT‑1120A, Schedule Q, Line 9 or from the appropriate forms previously referenced. The fraction must be expressed as a decimal and carried to six places. Line 3 - Enter the amount from Line 1 multiplied by Line 2, or enter the amount from Line 1, if not entitled to apportion. Line 4 - Enter the amount of any unused losses from Form CT‑1120 ATT, Corporation Business Tax Return Attachment, Schedule H, Line 22, Column E. Do not exceed 50% of Line 3. Apportioned net operating losses may be carried forward for 20 successive income years. Losses may not be carried back. Schedule B - Computation of Minimum Tax on Capital Use Schedule B to compute the minimum tax on the capital of a corporation. The minimum tax on capital cannot be less than $250 or exceed $1 million. Financial service companies are subject to a minimum tax on capital of $250 and do not complete Schedule B. Real estate investment trusts, regulated investment companies, or interlocal risk management agencies formed under Chapter 113a of the Connecticut General Statutes are not subject to the minimum tax on capital and do not complete Schedule B. Line 2 - Corporations, other than air carriers, enter the apportionment fraction from Form CT‑1120A, Schedule S, Line 3, Column C. Air carriers enter the amount from Form CT‑1120A‑A, Schedule R‑A, Line 5. The fraction must be expressed as a decimal and carried to six places. Line 3 - Enter the amount from Line 1 multiplied by Line 2, or enter the amount from Line 1, if not entitled to apportion. Line 4 - Enter the number of months the corporation carried on business or had the right to carry on business in Connecticut, whichever is greater. A fractional part of a month is counted as a full month. Line 6 - Multiply Line 5 by 0.31%. The maximum tax for Schedule B is $1 million. Schedule C - Computation of Amount Payable No. 101 Date Pay to the Order of $ Name of your Bank Street Address City, State, Zip Code 092125789 Routing Number 091 025 025413 0101 Form CT-1120 Instructions (Rev. 12/22) Name of Depositor Street Address City, State, Zip Code Line 1a - Enter the amount from Schedule A, Line 6; Schedule B, Line 6; or $250, whichever is greater. Line 1b - Multiply Line 1a by 10%. If the amount on Line 1a is $250 or the amount on federal Form 1120, Line 11 is less than $100 million, enter “0.” Line 1c - Enter the total tax credit that must be recaptured. The following tax credits are subject to recapture: • Historic Preservation; • Fixed Capital Investment; • Insurance Reinvestment; and • Urban and Industrial Site Reinvestment. In most cases, other than the Fixed Capital Investment tax credit, the corporation will have been advised by the agency administering the tax credit that recapture is required. A corporation is required to recapture the Fixed Capital Investment tax credit when the fixed capital is not held and used in Connecticut by the corporation for five full years following its acquisition. See Form CT‑1120 FCIC, Fixed Capital Investment Tax Credit, to calculate the amount of tax credit that must be recaptured. See the Guide to Connecticut Corporation Business Tax Credits available on the DRS website at portal.ct.gov/DRS. Line 2 – Multiply Line 1 by 49.99%. Line 5a - Enter the total tax credits applied from Form CT‑1120K, Business Tax Credit Summary, Part II, Line 9. Do not exceed the amount on Line 4. Line 5b - Enter the excess credit utilization from Form CT‑1120K, Part II, Line 12. Research and Development and Research and Experimental Expenditures tax credits that remain after the application of the 50.01% limitation may be further used, provided that the total of all tax credits used shall not exceed 60% of the tax liability. Line 7 - Enter the Pass‑Through Entity tax credit from Form CT‑1120PE, Pass‑Through Entity Tax Credit, Line 3. Do not exceed the amount reported on Line 6. Line 9a - Enter the amount paid with Form CT‑1120 EXT, Application for Extension of Time to File Connecticut Corporation Business Tax Return. Line 9b - Enter the amount(s) paid with Forms CT‑1120 ESA, ESB, ESC, or ESD, Estimated Connecticut Corporation Business Tax. Line 9c - Enter the amount of any overpayment from the prior year. Line 9d - Amended filers only. Enter the amounts paid with original return, plus additional tax paid after the original return was filed. Do not include penalty and interest. Line 9 - Add Lines 9a, 9b, 9c, and 9d. Line 10a - Amended filers only. Enter the overpayment, if any, as shown on original return or as previously adjusted. All others enter zero (“0”). Line 10b - Subtract Line 10a from Line 9. Line 11a - Enter penalty if applicable. Line 11b - Enter interest due on tax not paid by the original due date. Line 11c - Enter interest due on underpayment of estimated tax. Complete and attach Form CT‑1120I, Computation of Interest Due on Underpayment of Estimated Tax. Line 11 - Add Lines 11a, 11b, and 11c. Line 12a - Enter the amount of overpayment to be credited to 2023 estimated tax. The overpayment will be treated as estimated tax paid on the fifteenth day of the third month (March 15 for calendar year filers), if the tax return is filed on time or if the tax return is filed within the extension period if a timely request for extension was filed. A request to apply an overpayment to the following income year is irrevocable. See Informational Publication 2022(5), 2022 Q & A on Estimated Corporation Business Tax and Worksheet CT‑1120AE. Line 12b - Enter the amount of overpayment to be refunded. Lines 12c through 12e – Get the refund faster by choosing direct deposit. Complete Lines 12c, 12d, and 12e to have the refund directly deposited into a checking or savings account. Account Number Enter the nine-digit bank routing number and the bank account number in Lines 12d and 12e. The bank routing number is normally the first nine-digit number printed on the check or Page 2 of 5 savings withdrawal slip. The bank account number generally follows the bank routing number. Do not include the check number as part of the account number. Bank account numbers can be up to 17 characters. If any of the bank information supplied for direct deposit does not match, or the applicable bank account is closed prior to the deposit of the refund, the refund will automatically be mailed. Line 12f – Federal banking rules require DRS to request information about foreign bank accounts when the taxpayer requests the direct deposit of a refund into a bank account. If the refund is requested to be deposited into a bank outside of the United States, DRS will mail the refund. Line 12 - Add Line 12a and Line 12b. Line 13 - Add Line 10 and Line 11. Schedule D - Computation of Net Income Line 1 - Enter the corporation’s federal taxable income (loss) before net operating loss and special deductions as filed on the corporation’s federal return. Line 2 - Enter all interest income exempt from federal taxation. Line 3 - Enter state and local income taxes deducted in the calculation of federal taxable income, including Connecticut Corporation Business Tax. Line 4 - Enter the amount of interest expenses paid to a related member as reported on Form CT‑1120AB, Summary of Add Back and Exceptions to Add Back of Interest and Intangible Expenses, Part I A, Line 1. Line 5 - Enter the amount of intangible expenses paid to a related member as reported on Form CT‑1120AB, Part I B, Line 3. Line 6 - Enter the amount of the federal bonus depreciation allowed under IRC § 168(k) and claimed on federal Form 4562, Depreciation and Amortization. in Conn. Gen. Stat. § 25‑32a, where such land is to be permanently preserved as protected open space or as Class I or Class II water company land. Line 14 - Enter the federal bonus depreciation recovery amount from Form CT‑1120 ATT, Schedule J, Line 26. Line 15 - Enter the amount of exceptions to interest add back as reported on Form CT‑1120AB, Part II A, Line 1. Line 16 - Enter the amount of exceptions to interest add back as reported on Form CT‑1120AB, Part II A, Line 2. Line 17 - Enter the amount of exceptions to interest add back as reported on Form CT‑1120AB, Part II A, Line 3. Line 18 - Enter the amount of exceptions to the add back of intangible expenses paid to a related member as reported on Form CT‑1120AB, Part II B, Line 1. Line 19 - Enter 25% of IRC § 179 deduction that was added back in calculating Connecticut net income in the preceding four years. Line 20 - Enter the amount of business interest expense that was incurred in the current year but was not allowed to be deducted for federal tax purposes pursuant to IRC § 163(j). Line 21 - Enter the amount of any contributions made by the State of Connecticut or political subdivision thereof to the extent those contributions are included in Schedule D, Line 1 of this return. Line 22 - Enter any other income deduction and attach an explanation. Other amounts should include the following: • The Foreign Derived Intangible Income (FDII) deduction claimed for federal purposes. • The amount of contributions to a manufacturing reinvestment account. • The amount received from a related member attributable to intangible expenses and costs or to interest expenses and costs, provided such income was: Line 7 - Enter the amount of business interest expense that was incurred in a prior year and that was carried forward and deducted in the current year for federal tax purposes pursuant to IRC § 163(j). 1. Included on Schedule D, Line 1 of this return; 2. Received from a related member who filed a Connecticut Corporation Business Tax return for the same income year; and Line 8 - Enter 80% of the IRC § 179 deduction claimed for federal tax purposes. Line 9 - Enter any other income amount. Attach an explanation. Include the applicable amount of distributions from a manufacturing reinvestment account (MRA). Enter: • 100% of distributions from an MRA to the extent they are used for non-qualifying purchases; and • 100% of the money remaining in an MRA account that is returned to you after the five year period. Line 11 - Enter the dividend deduction calculated on Form CT‑1120 ATT, Schedule I, Line 5. Line 12 - Enter the amount of any available capital loss carryover not deducted in computing federal capital gain. This amount is limited to the amount of the capital gain reported on the federal return as described in Conn. Gen. Stat. § 12‑217. Line 13 - Enter the value of any capital gain realized from the sale of any land, or interest in land, to the state, any political subdivision of the state, or to any nonprofit land conservation organization where such land is to be permanently preserved as protected open space or to a water company, as defined Form CT-1120 Instructions (Rev. 12/22) 3. Required to be added back by the related member under Conn. Gen. Stat. §§ 12‑218c or 12‑218d and was not entitled to an exception of the add back. • For all REITs, enter the deduction from federal Form 1120‑REIT, U.S. Income Tax Return for Real Estate Investment Trusts, Schedule J, Line 2f, only if such amount is equal to $50,000. In addition, for a REIT that is not a “captive REIT,” enter the deduction for dividends paid from federal Form 1120‑REIT, Line 21b. Line 24 - Subtract Line 23 from Line 10. Enter the result here and on Schedule A, Line 1. Schedule E - Computation of Minimum Tax Base Line 1 - Enter the beginning (Column A) and ending (Column B) values of the issued and outstanding capital stock including treasury stock at par or face value, fractional shares, scrip certificates, and payments on subscriptions. See federal Form 1120, Schedule L, Line 22a and Line 22b. Page 3 of 5 Line 2 - Enter the beginning (Column A) and ending (Column B) values of paid‑in or capital surplus, including retained earnings. Any deficit must be reported as a negative number. See federal Form 1120, Schedule L, Lines 23, 24, and 25. Line 3 - Enter the beginning (Column A) and ending (Column B) values of all surplus reserves. Attach a schedule of all surplus reserves to support the amounts shown on Line 3. A reserve is an amount set aside or deducted from current or retained earnings for meeting future liabilities. Line 4 - Add Lines 1, 2, and 3 in both Column A and Column B. Enter in Column C the average of Column A and Column B. Line 5 - Enter the total holdings of stock of private corporations in Column A and Column B. Enter in Column C the average of Column A and Column B. Attach a schedule that lists the beginning and ending book values of total holdings of stock of private corporations, including treasury stock. The total book value of shares must equal the amount claimed as a deduction on Schedule E, Line 5. The book value of stock does not include the value of other assets acquired and held in connection with or incidental to the ownership of such stock. Private corporations means all non‑governmental corporations, whether closely or publicly held. Line 6 - Subtract Line 5, Column C, from Line 4, Column C. Enter the result here and on Form CT‑1120, Schedule B, Line 1. Check and Complete all Applicable Boxes 1. Change of Address Check the Address change box, and go to portal.ct.gov/DRS-myconneCT to change your address through myconneCT. Log in to myconneCT, open the More… menu, locate the Taxpayer Updates group, and select Manage Names & Addresses. 2. Return Status Check the corresponding box to indicate the type of return being filed. • Initial If this is the first time the corporation is filing Form CT‑1120, check the Initial box. • Amended If the corporation is filing an amended return, check the Amended box and check the box to indicate the reason for amending. If the return is being amended to report a federal change, enter the date that the IRS made its final determination. • Final If the corporation is filing a final return, check the Final box and complete Line 3, below. • Short Period If the corporation is filing a short period return, check the Short period box. Schedule G - Additional Required Information Attach a schedule of corporate officers’ names, complete home addresses, and corporate titles. Line 1 - Enter the Connecticut towns in which the corporation owns or leases, as lessee, real or tangible personal property or performed any services. Line 2a - If the corporation transferred a controlling interest in an entity where the entity owns, directly or indirectly, an interest in Connecticut real property, the corporation (the transferor) may be subject to the controlling interest transfer tax. Enter the name and FEIN of the entity in which a controlling interest was transferred. The transferor is required to file Form AU‑330, Controlling Interest Transfer Taxes. Line 2b - If this corporation owned Connecticut real property and was the entity in which a direct or indirect controlling interest was transferred, enter the name and FEIN or SSN of the transferor. The transferor may be subject to the controlling interest transfer tax. Line 2c -Enter the transferee(s) name(s) and the transfer date if the answer was Yes to either Line 2a or Line 2b. Attach a list of property addresses of the Connecticut realty owner according to the above transfer. The entity in which a direct or indirect controlling interest was transferred is required to file FormAU‑331, Controlling Interest Transfer Taxes Informational Return. Line 3 - If any other corporation owns a majority of the voting stock of this corporation, enter the name and FEIN of the corporation. Line 4 - Enter the last taxable year this corporation was audited by the IRS. Corrections to taxable income by the IRS must be reported to the Commissioner of Revenue Services on or before 90 days after the final determination of the change. Form CT-1120 Instructions (Rev. 12/22) 3. Final Return Check the corresponding box providing the reason for the final return: • Dissolution To properly dissolve a domestic corporation you must file a Certificate of Dissolution with the Connecticut Office of the Secretary of the State. A dissolved corporation must file a return for the period up to the date of legal dissolution or the date of the final liquidation of assets, whichever is later. Any dissolved corporation that continues to conduct business must file Form CT‑1120 and pay any taxes due. If a corporation has been dissolved by forfeiture and wishes to be reinstated, it must submit a written request for a tax clearance to: Department of Revenue Services State of Connecticut Corporation Tax Audit Unit 450 Columbus Blvd Ste 1 Hartford CT 06103-1837 The tax clearance and certificate of reinstatement must be filed with the Connecticut Office of the Secretary of the State. • Withdrawal From State A foreign corporation that wishes to withdraw from Connecticut must file a written application for withdrawal with the Connecticut Office of the Secretary of the State. Any corporation that has withdrawn must file Form CT‑1120 up to the date of withdrawal and pay any taxes due. Page 4 of 5 • Mergers and Reorganizations A corporation that has merged must file a written application with the Connecticut Office of the Secretary of the State. Any corporation that has merged must file Form CT‑1120 covering the period up to the date of merger and pay any tax due. Any organization that is reorganized must submit the details concerning the reorganization in writing and disclose the survivor’s Connecticut Tax Registration Number to: DRS Operations Bureau/Registration 450 Columbus Blvd Ste 1 Hartford CT 06103-1837 If the corporation already has a Connecticut Tax Registration Number, additional taxes for which the corporation is liable may be added to the registration by contacting the DRS at 800‑382‑9463 (Connecticut calls outside the Greater Hartford calling area only); or 860‑297‑5962 (from anywhere). For further information about withdrawal from the state, mergers and reorganizations, or dissolutions, contact the Connecticut Office of the Secretary of the State at 860‑509‑6003. 4. Type of Federal Return Filed Check the appropriate box for the type of federal return filed. If the Consolidated Basis box is checked, you must enter the parent company’s name and FEIN. An S corporation should file Form CT‑1065/CT‑1120SI, Connecticut Pass‑Through Entity Tax Return. A limited liability company (LLC) should file Form CT‑1120 only if the company elects to be taxed as a corporation for federal income tax purposes. 5. Previous Combined Unitary Return Indicate whether the corporation filed as part of a combined return on Form CT‑1120CU, Combined Unitary Corporation Business Tax Return, for the previous income year and is no longer a member of the combined group. 6. Non-Unitary Business Income Indicate if the corporation files as part of Form CT‑1120CU, Combined Unitary Corporation Business Tax Return, in the current income year and is filing this Form CT‑1120 to report non-unitary business income. 7. Principal Place of Business If the principal place of business is located outside Connecticut, enter the name of the state where it is located. Enter the state in which the corporation filed its Articles of Incorporation and the date of organization. If incorporated outside of Connecticut, enter the date qualified to do business in Connecticut. A corporation must enter the date it began business operations in Connecticut. 8. Exempt Corporation If the corporation is exempt from Connecticut Corporation Business Tax, check this box and attach an explanation of the exemption, and a statutory cite for the exemption. Form CT-1120 Instructions (Rev. 12/22) 9. Annualization Check the corresponding box if the corporation used the annualized installment method to calculate its estimated tax payments for this year. Complete Form CT‑1120I, Computation of Interest Due on Underpayment of Estimated Tax, and attach it to Form CT‑1120. See Informational Publication 2022(5), 2022 Q & A on Estimated Corporation Business Tax and Worksheet CT-1120AE. 10. Interest Add Back Check the corresponding box if the corporation paid, accrued, or incurred interest expenses or intangible expenses, costs, and related interest expenses to a related member. Complete Form CT‑1120AB, Summary of Add Back and Exceptions to Add Back of Interest and Intangible Expenses, and attach it to Form CT‑1120. Signature The return must be signed by a duly authorized officer. Paid Preparer Signature A paid preparer must sign and date Form CT‑1120. Paid preparers must also enter their Social Security Number (SSN) or Preparer Tax Identification Number (PTIN) and their firm’s FEIN in the spaces provided. Paid Preparer Authorization If the corporation wants to authorize DRS to contact the paid preparer who signed the 2022 Connecticut Corporation Business Tax Return to discuss it, check the Yes box in the signature area of the return. This authorization applies only to the individual whose signature appears in the Paid preparer’s signature section of the return. It does not apply to the firm, if any, shown in that section. If the Yes box is checked, the corporation is authorizing DRS to contact the paid preparer to answer any questions that may arise during the processing of the 2022 Connecticut Corporation Business Tax Return. The corporation is also authorizing the paid preparer to: • Give DRS any information that is missing from the return; • Contact DRS for information about the processing of the corporation’s return or the status of the corporation’s refund or payment; and • Respond to certain DRS notices that the corporation may have shared with the preparer regarding math errors, offsets, and return preparation. The notices will not be sent to the preparer. The corporation is not authorizing the paid preparer to receive any refund check, bind the corporation to anything, including additional tax liability, or otherwise represent the corporation before DRS. The authorization cannot be revoked. However, the authorization will automatically end no later than the due date, without regard to extensions, for filing the 2023 Connecticut Corporation Business Tax Return. This is on or before the fifteenth day of the month following the due date of the corporation’s corresponding federal income tax return for the income year (May 15 for calendar year filers). Page 5 of 5
Form CT-1120 Instructions
More about the Connecticut Form CT-1120 Instructions Corporate Income Tax Tax Return TY 2022
Form CT-1120, Corporation Business Tax Return, is used to compute tax both on a net income basis and on a capital stock basis. Tax is paid on the basis that yields the higher tax. The minimum tax is $250. This booklet contains current-year instructions for filing.
We last updated the Connecticut Corporation Business Tax Instructions in February 2023, so this is the latest version of Form CT-1120 Instructions, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form CT-1120 Instructions directly from TaxFormFinder. You can print other Connecticut tax forms here.
Related Connecticut Corporate Income Tax Forms:
TaxFormFinder has an additional 85 Connecticut income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Connecticut Form CT-1120 Instructions.
|Form Code||Form Name|
|Form CT-1120 EXT||Application for Extension of Time to File Connecticut Corporation Tax Return|
|Form CT-1120 A-LP||Corporation Business Tax Return Apportionment of Limited Partnership Interests|
|Form CT-1120||Corporation Business Tax Return|
|Form CT-1120 FCIC||Fixed Capital Investment Credit|
|Form CT-1120I||Computation of Interest Due on Underpayment of Estimated Tax|
|Form CT-1120 ES||Estimated Corporation Business Tax Payment Coupons|
|Form CT-1120FP||Film Production Tax Credit|
|Form CT-1120X||Amended Corporation Business Tax Return|
|Form CT-1120 CC||Authorization and Consent to be Included in a Combined Return|
|Form CT-1120K||Business Tax Credit Summary|
Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-1120 Instructions from the Department of Revenue Services in February 2023.
Form CT-1120 Instructions is a Connecticut Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Connecticut Form CT-1120 Instructions
We have a total of five past-year versions of Form CT-1120 Instructions in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Connecticut Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.