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There are three ways to pay by credit card or comparable

Special Instructions - Combined or Unitary Tentative

Corporation Business Tax Return

debit card:

Afﬁ liated corporations should ﬁ le one Form CT-1120 EXT

• Log in to your account in the TSC and select Make Payment

covering all such corporations, if they:

by Credit Card;

1. Elected to ﬁ le as part of a Form CT-1120CR, Combined

• Visit: and select State

Corporation Business Tax Return, or Form CT-1120U,

Payments; or

Unitary Corporation Business Tax Return in a prior income

• Call Ofﬁ cial Payments Corporation at 1-800-2PAY-TAX

year and have not subsequently revoked such election; or

(1-800-272-9829) and follow the instructions. You will be

2. Elect to ﬁ le as part of a Form CT-1120CR or Form CT-1120U

asked to enter the Connecticut Jurisdiction Code: 1777.

for the ﬁ rst time in the current income year and attach a

Your payment will be effective on the date you make the

Form CT-1120CC, Combined Return Consent for each

charge.

afﬁ liated corporation to Form CT-1120 EXT.

Do not send in Form CT-1120 EXT if payment is made

A separate Form CT-1120 EXT must be filed for each

through the credit card service provider. If your payment

corporation with Connecticut nexus that has not made such

is late, DRS will notify you in writing that your request for

an election. Such corporations may still elect to ﬁ le as part of

extension of time to ﬁ le is denied.

a Form CT-1120CR or Form CT-1120U up until the extended

due date.

Interest and Penalty

Afﬁ liated corporations without Connecticut nexus that have

Interest is assessed at 1% per month or fraction of a month

not previously made an election to be included in a Form

on any underpayment of tax computed from the ﬁ rst day of

CT-1120U do not need to ﬁ le a Form CT-1120 EXT. Such

the fourth month following the close of the income year. The

corporations may still elect to ﬁ le as part of a Form CT-1120U

penalty for underpayment of tax is 10% of the tax due or $50,

up until the extended due date of the related corporations

whichever is greater. If no tax is due, the Commissioner of

Revenue Services may impose a $50 penalty for the late

with which it may ﬁ le.

ﬁ ling of any return or report that is required by law to be ﬁ led.

Signature

If a request for a filing extension has been granted, a

An ofﬁ cer of the corporation must sign this form.

corporation may avoid a penalty for failure to pay the full

amount due by the original due date if it pays:

Paid Preparer Signature

• At least 90% of the tax shown to be due on the return on

A paid preparer must sign and date Form CT-1120 EXT.

or before the original due date of the return; and

Paid preparers must also enter their Social Security Number

(SSN) or Preparer Tax Identiﬁ cation Number (PTIN) and their

• The balance due with the ﬁ ling of Form CT-1120, on or

ﬁ rm’s FEIN in the spaces provided.

before the extended due date.

Others Who May Sign

Credit Against Estimated Payments

Anyone (including attorneys, accountants, and enrolled

An overpayment of tax liability for

2014

will be applied

agents) with a signed Power of Attorney may sign for the

against the ﬁ rst installment of estimated tax due in

2015

corporation in place of a corporate ofﬁ cer.

the taxpayer timely ﬁ les a completed Form CT-1120, Form

CT-1120CR, or Form CT-1120U and elects to apply an

Line Instructions

overpayment from

2014

against its

2015

estimated tax.

Line 1 - Enter the tax due for the current income year without

regard to surtax or recapture. Include additional $250 tax

Limit on Credits

for each company included in the return and any amount of

The amount of tax credit(s) otherwise allowable against

preference tax due.

the corporation business tax for any income year shall not

exceed 70% of the amount of tax due under the corporation

Line 2 - Enter the surtax amount due. Taxpayers ﬁ ling Form

business tax prior to the application of tax credits.

CT-1120U, Form CT-1120CR, or those with gross income of

$100 million or more, multiply Line 1 by 20% and enter the

No tax credit allowed against the corporation business tax

result.

shall reduce a company’s minimum tax to an amount less

than $250.

If Line 1 is $250, enter “0.” Taxpayers with less than $100 million

of gross income (from federal Form 1120, Line 11, amount

Tax Credit Recapture

in box at the top of Form CT-1120), that are not included

If the corporation is subject to recapture of tax credits, include

in a return ﬁ led on Form CT-1120CR or Form CT-1120U,

the tax credit recapture amount in the total tax for the current

enter “0.”

income year.

Line 3 - Add Line 1 and Line 2. Include tax credit recapture,

if applicable.

Surtax

For income years beginning on or after January 1, 2012, and

Line 4 - Multiply Line 3 by 30% (.30).

prior to January 1, 2016, companies whose gross income

Line 13 - Subtract Line 12 from Line 9.

equals or exceeds $100 million or who ﬁ le as part of a

combined or unitary return must pay a surtax of 20% of the

tax without regard to credits and tax credit recapture. The

surtax does not apply to the minimum tax of $250.

Form CT-1120 EXT (Rev. 12/14)

Page 3 of 3

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20141010

Form Ct-1120 Ext Draft - Application For Extension Of Time To File Corporation Business Tax Return - 2014 Page 3

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