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Connecticut Free Printable  for 2021 Connecticut Nexus Combined Base Tax Calculation

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Nexus Combined Base Tax Calculation
Form CT-1120CU-NCB

Department of Revenue Services State of Connecticut (Rev. 12/20) 2020 Form CT-1120CU-NCB Nexus Combined Base Tax Calculation Complete this form in blue or black ink only. Do not use staples. See instructions. Please note that each form is year specific. To prevent any delay in processing, the correct year’s form must be submitted to the Department of Revenue Services (DRS). Connecticut Designated Taxable Member’s Connecticut Tax Registration Number PART I Nexus Combined Total 1. Form CT‑1120, Schedule D, Line 1 (federal taxable income (loss) before net operating loss and special deductions) 1. 2. Interest income wholly exempt from federal tax ...................................................................................................... 2. 3. Unallowable deduction for corporation tax from Form CT‑1120, Schedule F, Line 8 .............................................. 3. Adjustment for Connecticut Tax Base 4. Interest expenses paid to a related member from Form CT‑1120AB, Part I A, Line 1 ............................................ 4. A D D 5. Intangible expenses and costs paid to a related member from Form CT‑1120AB, Part I B, Line 3 ....................... 5. 6. Federal bonus depreciation: See instructions. ........................................................................................................ 6. 7. Business interest expense carried forward under IRC § 163(j) and deducted for federal tax purposes in the current year. See instructions. 7. 8. 80% of IRC § 179 deduction. See instructions. ....................................................................................................... 8. 9. Other: Attach explanation. ....................................................................................................................................... 9. 10. Total: Add Lines 1 through 9. .................................................................................................................................. 10. 11a. Dividends from domestic companies less than 20% owned Limited to 70% deduction (less related expenses) ....11a. 11b. Other dividends (less related expenses) .................................................................................................................11b. 11c. Dividends from a captive REIT taxable in Connecticut ............................................................................................11c. 11d. Intercorporate dividends from corporations included in this combined return ......................................................... 11d. D E D U C T 12. Capital loss carryover (if not deducted in computing federal capital gain): Attach schedule. .................................. 12. 13. Capital gain from sale of preserved land ................................................................................................................. 13. 14. Federal bonus depreciation recovery from Form CT‑1120 ATT, Schedule J, Line 26 ............................................ 14. 15. Exceptions to interest add back from Form CT‑1120AB, Part II A, Line 1 .............................................................. 15. 16. Exceptions to interest add back from Form CT‑1120AB, Part II A, Line 2 .............................................................. 16. 17. Exceptions to interest add back from Form CT‑1120AB, Part II A, Line 3 .............................................................. 17. 18. Exceptions to add back of intangible expenses paid to a related member from Form CT‑1120AB, Part II B, Line 1 18. 19. 25% of IRC § 179 deduction added back in the preceding two years. .................................................................... 19. 20. IRC § 163(j) business interest deduction disallowed for federal tax purposes. See instructions. ........................... 20. 21. Contributions from Connecticut or its municipalities included in Part I, Line 1 above ............................................. 21. Computation of Nexus Combined Net Income 22. Other: Attach explanation. ....................................................................................................................................... 22. 23. Total: Add Lines 11a through 22. ............................................................................................................................ 23. 24. Net income (loss): Subtract Line 23 from Line 10. If 100% Connecticut, enter also on Line 26. ........................ 24. 25. Apportionment fraction. See instructions. Carry to six places. ................................................................................ 25. 26. Connecticut net income: Line 24, or Line 24 multiplied by Line 25. ........................................................................ 26. 27. Operating loss carryover from separate return year: Cannot exceed 50% of amount on Line 26. Attach schedule. 27. 28. Net income: Subtract Line 27 from Line 26. ............................................................................................................ 28. 29. Nexus combined operating loss carryover. Cannot exceed 50% of the amount on Line 28, and the sum of Line 27 and Line 29 cannot exceed 50% of the amount on the Nexus Combined Total column, Line 26. Attach schedule. 29. 30. Nexus combined income subject to tax: Subtract Line 29 from Line 28. ................................................................. 30. Computation of Nexus Combined Minimum Tax Base PART II 31. Tax: Multiply Line 30 by 7.5% (.075). Enter here and on Form CT‑1120CU‑NCB, Part III, Line 1. ......................... 31. 1. Form CT‑1120, Schedule E, Line 6, Column C. If 100% Connecticut, enter also on Line 3. See instructions. .00 .00 .00 .00 .00 .00 1. 2. Apportionment fraction. See instructions. Carry to six places. ................................................................................ 2. 3. Line 1, or Line 1 multiplied by Line 2. ...................................................................................................................... 3. 4. Number of months covered by this return ............................................................................................................... 4. 5. Line 3 multiplied by Line 4, divide by 12. ................................................................................................................. 5. 6. Nexus combined minimum tax base: Add all amounts on Line 5. ........................................................................... 6. 7. Tax: Multiply Line 6 by 0.0031 (31/10 mils per dollar). Maximum $1,000,000. Enter here and on Form CT‑1120CU‑NCB, Part III, Line 2. 7. .00 .00 Connecticut Designated Taxable Member’s Connecticut Tax Registration Number Column A Taxable Member #: Column B Taxable Member #: (A. = Enter corporation name) Column C Taxable Member #: Column D Taxable Member #: Column E Taxable Member #: A. 1. .00 .00 .00 .00 .00 2. .00 .00 .00 .00 .00 3. .00 .00 .00 .00 .00 4. .00 .00 .00 .00 .00 5. .00 .00 .00 .00 .00 6. .00 .00 .00 .00 .00 7. .00 .00 .00 .00 .00 8. .00 .00 .00 .00 .00 9. .00 .00 .00 .00 .00 10. .00 .00 .00 .00 .00 11a. .00 .00 .00 .00 .00 11b. .00 .00 .00 .00 .00 11c. .00 .00 .00 .00 .00 11d. .00 .00 .00 .00 .00 12. .00 .00 .00 .00 .00 13. .00 .00 .00 .00 .00 14. .00 .00 .00 .00 .00 15. .00 .00 .00 .00 .00 16. .00 .00 .00 .00 .00 17. .00 .00 .00 .00 .00 18. .00 .00 .00 .00 .00 19. .00 .00 .00 .00 .00 20. .00 .00 .00 .00 .00 21. .00 .00 .00 .00 .00 22. .00 .00 .00 .00 .00 23. .00 .00 .00 .00 .00 24. 25. . .00 . .00 .00 . .00 .00 . .00 .00 . .00 26. .00 27. .00 .00 .00 .00 .00 .00 28. .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 29. 30. 31. 1. 2. . . .00 . .00 . .00 . 3. .00 4. .00 .00 .00 .00 .00 .00 5. .00 .00 .00 .00 .00 6. 7. Form CT-1120CU-NCB (Rev. 12/20) Page 2 of 4 Connecticut Designated Taxable Member’s Connecticut Tax Registration Number PART III – Aggregate Maximum Tax 1. Tax on nexus combined net income from Part I, Line 31, Nexus Combined Total column. ........................ 1. .00 2. Tax on nexus combined minimum tax base from Part II, Line 7, Nexus Combined Total column. ............. 2. .00 3. Enter the larger of Line 1 or Line 2, Nexus Combined Tax. ......................................................................... 3. .00 4. Maximum addition amount. ........................................................................................................................ 4. 2,500,000 .00 5. Aggregate Maximum Tax: Add Line 3 and Line 4. Enter here and on Form CT‑1120CU, Part I, Line 4. ... 5. .00 Column A Taxable Member #: Allocation of Aggregate Maximum Tax Column B Taxable Member #: Column C Taxable Member #: Corporation name: 6. Enter in each column the tax reported for each taxable member on Form CT‑1120CU‑NI, Part III, Line 13. ................................................ 6. 7. Enter the amount reported on Form CT‑1120CU‑NI, Part III, Line 14. ............... 7. 8. Divide the amount in each column on Line 6 by Line 7. ......................................................................... 8. .00 .00 .00 .00 . . . 9. Allocation of aggregate maximum tax: Multiply the amount on Line 5 by the percentage reported on Line 8 in each column. Enter also in each corresponding column on Form CT‑1120CU, Part I, Line 6c. ............................................................. 9. Form CT-1120CU-NCB (Rev. 12/20) .00 .00 .00 Page 3 of 4 Connecticut Designated Taxable Member’s Connecticut Tax Registration Number Column D Taxable Member #: Column E Taxable Member #: (A. = Enter corporation name) Column F Taxable Member #: Column G Taxable Member #: Column H Taxable Member #: A. .00 6. .00 .00 .00 .00 7. 8. 9. . . .00 Form CT-1120CU-NCB (Rev. 12/20) . .00 . .00 . .00 .00 Page 4 of 4
Extracted from PDF file 2020-connecticut-form-ct-1120cu-ncb.pdf, last modified December 2020

More about the Connecticut Form CT-1120CU-NCB Corporate Income Tax TY 2020

We last updated the Nexus Combined Base Tax Calculation in February 2021, so this is the latest version of Form CT-1120CU-NCB, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form CT-1120CU-NCB directly from TaxFormFinder. You can print other Connecticut tax forms here.


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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-1120CU-NCB.

Form Code Form Name
Form CT-1120CU-MI Combined Group Member Information
Form CT-1120CU-MTB Tax on Combined Group Minimum Tax Base
Form CT-1120CU-NI Tax on Combined Group Net Income

Download all CT tax forms View all 86 Connecticut Income Tax Forms


Form Sources:

Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-1120CU-NCB from the Department of Revenue Services in February 2021.

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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.


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