Form Ct-1120 - Corporation Business Tax Return 2001
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1
2FORM CT-1120
2001
STATE OF CONNECTICUT
DEPARTMENT OF REVENUE SERVICES
Corporation Business Tax Return
(Rev. 12/01)AB
ENTER INCOME YEAR
BEGINNING ____________________, 2001, AND
ENDING ___________________, ____
Total Assets
Corporation Name
Connecticut Tax Registration Number
L
A
0 0 0
B
Gross Receipts
E
Number and Street
PO Box
DRS USE ONLY
L
–
– 20
NAICS Code for Principal
Business Activity
H
Federal Employer ID Number
E
City or Town
State
ZIP Code
R
Audited By
F
O
E
CHECK AND COMPLETE ALL APPLICABLE BOXES
Is this corporation exchanging R & D tax credits?
Yes (See instructions)
No
If this is a final return, has the corporation:
Federal return was filed on:
Change of:
Return Status:
If this is a short period, check
the corresponding box:
Closing
Initial Return
Dissolved
Withdrawn
1120
1120A
Month
Merger
Final Return
1120H
Consolidated Basis
Merged/Reorganized (Enter survivor’s
Address
Acquisition
Short Period
Connecticut Tax Registration Number)
Other: _______________________
Return
Change of Filing Status
_________________________________
Is this company included in a Connecticut combined business tax return?
Yes (Complete Form CT-1120CR)
No
Was this company included in a Connecticut combined business tax return for the previous year?
Yes
No (If this is the first year electing or revoking
combined status, attach Form CT-1120CC or CT-1120 CC-R)
Is this corporation a financial service company?
Yes (Attach Form CT-1120A - FS)
No
I
Is this corporation annualizing its income?
Yes (Attach Form CT-1120
)
No
– ATTACH A COMPLETE COPY OF FORM 1120 INCLUDING ALL SCHEDULES AS FILED WITH THE INTERNAL REVENUE SERVICE –
COMPUTATION OF NET INCOME
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 ( Schedule F , Line 8) .................................................................
3
4. Intangible expenses and interest expenses paid to a related member
4
(See instructions) ..........................
5. TOTAL (Add Lines 1, 2, 3, and 4) ................................................................................................................
5
6. Dividend deduction (Form CT-1120 ATT, Schedule I , Line 4) ....................................................................
6
7. Capital loss carryover (if not deducted in computing federal capital gain) ...................................................
7
8. Capital gain from sale of preserved land .......................................................................................................
8
9. Other (Attach explanation) .............................................................................................................................
9
10. TOTAL (Add Lines 6, 7, 8, and 9) ................................................................................................................
10
11. NET INCOME (Subtract Line 10 from Line 5) ................................................................................................
11
SCHEDULE A
– – – – – COMPUTATION OF TAX ON NET INCOME
1. Net income (Line 11) (If 100% Connecticut, enter also on Schedule A , Line 3) ...........................................
1
2. Apportionment fraction (Carry to six places. See instructions.) ..................................................................
2
0.
3. Connecticut net income (Multiply Line 1 by Line 2) ........................................................................................
3
4. Operating loss carryover (Form CT-1120 ATT, Schedule H , Line 6, Column A) .......................................
4
5. Income subject to tax (Subtract Line 4 from Line 3) ......................................................................................
5
6. TAX: Multiply Line 5 by 7.5% (.075) ...............................................................................................................
6
SCHEDULE B
– – – – – COMPUTATION OF MINIMUM TAX ON CAPITAL
1. Minimum tax base ( Schedule D , Line 6, Column C ) (If 100% Connecticut, enter also on Line 3) ...............
1
.
2. Apportionment fraction (Carry to six places. See instructions.) ..................................................................
2
0
3. Multiply Line 1 by Line 2 ..................................................................................................................................
3
4. Number of months covered by this return .....................................................................................................
4
5. Multiply Line 3 by Line 4, divide the result by 12 ............................................................................................
5
6. TAX: (3 and 1/10 mills per dollar) Multiply Line 5 by .0031. (Maximum tax for Sch. B is $1,000,000) .........
6
SCHEDULE C
– – – – – COMPUTATION OF AMOUNT PAYABLE (MINIMUM TAX $250)
1 2 3 4 5
ENTER TOTAL OF
1 2 3 4 5
1 2 3 4 5
1 2 3 4 5
Tax (Larger of Schedule A , Line 6; Schedule B , Line 6; or $250)
1a
LINES 1a and 1b
(a)
1 2 3 4 5
1. TOTAL
1 2 3 4 5
1 2 3 4 5
TAX
Recapture of Tax Credits (See instructions) .........................
1b
1
(b)
2. Tax Credits (Form CT-1120K, Part III, Line 13, Column B) ..............................................................................
2
3. Balance of tax payable (Subtract Line 2 from Line 1. If zero or less, enter -0-) .............................................
3
1 2 3 4 5
1 2 3 4 5
ENTER TOTAL OF
1 2 3 4 5
(a) Paid with application for extension (Form CT-1120 EXT) ......
4a
1 2 3 4 5
1 2 3 4 5
LINES 4a, 4b, 4c
4. TAX
1 2 3 4 5
1 2 3 4 5
(b) Paid with estimates (Forms CT-1120 ESA, ESB, ESC, & ESD)
4b
1 2 3 4 5
PAYMENTS
1 2 3 4 5
(c) Overpayment from prior year .....................................................
4 c
4
5. Balance of tax due (overpaid) (Subtract Line 4 from Line 3) ...........................................................................
5
6. Add Penalty
(6a) ___________ Interest
(6b) __________ CT-1120I Interest
(6c) ___________
6
7. Amount to be credited to 2002 estimated tax
(7a) ______________ Refunded
(7b) ___________
7
8. Balance due with this return (Add Line 5 and Line 6) ...............................................................................
8
Make check payable to:
Commissioner of Revenue Services
Check if you do not want a booklet sent
(Attach check to return with paper clip. Do not staple.)
to you next year. (Checking this box does
Mail to:
Department of Revenue Services, PO Box 2974, Hartford CT 06104-2974
not relieve you of your responsibility to file.)
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