Form Ct-1120 - Corporation Business Tax Return Form - Connecticut

Form CT-1120

2006

Department of Revenue Services

State of Connecticut

Corporation Business Tax Return

(Rev. 12/06) AG

Enter Income Year

Beginning

_______________________, 2006, and Ending

________________________, _______

Total Assets

Corporation Name

CT Tax Registration Number

Gross Receipts

DRS Use Only

Number and Street

PO Box

–

– 20

NAICS Code (See instructions.)

Federal Employer ID Number (FEIN)

City or Town

State

ZIP Code

Audited By

Check and Complete All Applicable Boxes

Address Change

2. Return Status:

Initial

Final

Short Period

3. If this is a final return, has the corporation:

Dissolved

Withdrawn

Merged/Reorganized (Enter survivor’s Connecticut Tax Registration Number: ______________________________ )

4. Federal return was filed on:

1120

1120A

1120H

Other: ___________________________________________

Consolidated Basis:

Parent Co. Name

_____________________________________

Parent Co. FEIN

____________________________

5. Is this corporation exchanging R & D tax credits?

Yes (Attach Form CT-1120 XCH.)

6. Was this company included in a Connecticut combined or unitary business tax return for the previous year?

Yes

(If this is the first year electing or revoking combined status, attach Form CT-1120CC or Form CT-1120CC-R.)

7. Is this company included in a Connecticut combined business tax return?

Yes (Attach Form CT-1120CR.)

8. Is the principal place of business located in Connecticut?

Yes

If No, enter state where principal place of business is

located ________________________________ State of incorporation _________ Date of organization ___________

Date qualified in Connecticut _______________ Date business began in Connecticut __________________________

9. Is this corporation exempt from Connecticut corporation business tax?

Yes (Attach explanation of exemption including statutory cite.)

10. Is this corporation annualizing its income?

Yes (Attach Form CT-1120I.)

11. Does this corporation pay, accrue, or incur interest expenses or intangible expenses, costs, and

related interest expenses to a related member?

Yes (Attach Form CT-1120AB.)

12. Is this corporation filing Form CT-1120 PIC?

Yes (Attach Form CT-1120 PIC.)

– Attach a Complete Copy of Form 1120 Including All Schedules as Filed With the Internal Revenue Service –

Schedule A

– Computation of Tax on Net Income

1. Net income (Schedule D, Line 18) (If 100% Connecticut, also enter on Line 3) ..................................

2. Apportionment fraction (Carry to six places. See instructions.) ................................................................

3. Connecticut net income (Multiply Line 1 by Line 2.) .....................................................................................

4. Operating loss carryover (Form CT-1120 ATT, Schedule H, Line 10, Column D) ....................................

5. Income subject to tax (Subtract Line 4 from Line 3.) ...................................................................................

6. Tax: Multiply Line 5 by 7.5% (.075). .............................................................................................................

Schedule B

– Computation of Minimum Tax on Capital

1. Minimum tax base (Schedule E, Line 6, Column C) (If 100% Connecticut, also enter on Line 3) ........

2. Apportionment fraction (Carry to six places. See instructions.) ................................................................

3. Multiply Line 1 by Line 2. ..............................................................................................................................

4. Number of months covered by this return ...................................................................................................

5. Multiply Line 3 by Line 4, divide the result by 12. .........................................................................................

6. Tax: (3 and 1/10 mills per dollar) Multiply Line 5 by .0031. (Maximum tax for Sch. B is $1,000,000.) .........

( Minimum Tax $250 )

Schedule C

– Computation of Amount Payable

Tax (Greater of Schedule A, Line 6; Schedule B, Line 6; or $250) ............................................................

1a.

Surtax (Line 1a multiplied by 20% (.20). If Line 1a is $250, enter “0.”) ......................................................

1b.

1c. Recapture of Tax Credits (See instructions.) ..............................................................................................

1. Total Tax (Enter the total of Lines 1a, 1b, and 1c. If no tax credits claimed, also enter on Line 6.) ..............

2. Multiply Line 1 by 30% (0.30). ........................................................................................................................

3. Enter the greater of Line 2 or $250. ...............................................................................................................

4. Tax Credit Limitation (Subtract Line 3 from Line 1.) .......................................................................................

5. Tax Credits (Form CT-1120K, Part II, Line 11. Do not exceed amount on Line 4.) ...............................

6. Balance of tax payable (Subtract Line 5 from Line 1.) ................................................................................

7a. Paid with application for extension (Form CT-1120 EXT) ................................................................................

7b. Paid with estimates (Forms CT-1120 ESA, ESB, ESC, & ESD) .......................................................................

7c. Overpayment from prior year ................................................................................................................................

7 c

7. Tax Payments (Enter the total of Lines 7a, 7b, and 7c.) ..............................................................................

8. Balance of tax due (overpaid) (Subtract Line 7 from Line 6.) .......................................................................

9. Add Penalty

(9a) __________ Interest

.00

(9b) __________ CT-1120I Interest

.00

(9c) ____________

.00

10. Amount to be credited to 2007 estimated tax

(10a) ___________ Refunded