Instructions For Connecticut S Corporation Information And Composite Income Tax Return Form Ct-1120si - 1999 Page 7
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302. Income attributable to a business, trade,
is on or before April 18, 2000.) If the return is filed late,
profession or occupation carried on in
the S corporation will be subject to penalties and interest.
Connecticut; and
In addition, the S corporation must separately file
3. The portion of a nonresident shareholder's pro
Form CT-1120S by the fifteenth day of the fourth
rata share of S corporation income that is
month following the end of its income year.
derived from or connected with Connecticut
NOTE: On or after October 1, 1999, taxpayers can
sources.
use certain private delivery services, in addition to the
The S corporation must make a composite payment of
U.S. Postal Service, for delivering returns, claims,
all tax due for all nonresident individuals who do not agree
statements or other documents, or payments, and meet
to file a Form CT-1040NR/PY, or who do not elect to
the timely mailing as timely filing/payment rules. DRS
be included on a group return (Form CT-G). A
has accepted the list of private delivery services that is
nonresident shareholder who prefers to pay all tax due
currently published by the Internal Revenue Services.
by filing Form CT-1040NR/PY must file a Form
The following are on the list of designated private delivery
CT-1NA, Connecticut Nonresident Income Tax
services: Airborne Express (Airborne), DHL Worldwide
Agreement, with the S corporation prior to the filing date
Express (DHL), Federal Express (FedEx), and United
of the Form CT-1120SI. By filing Form CT-1NA,
Parcel Service (UPS). This list is subject to change.
the nonresident shareholder agrees to file a Form
For more information see Special Notice 99(14),
CT-1040NR/PY, make timely payment of all tax due
Designated Private Delivery Services.
and be subject to personal jurisdiction in Connecticut for
purposes of the collection of income taxes attributable
If the S corporation is terminated, completely liquidated
to the S corporation. Each Form CT-1NA must be
or has changed its accounting method during its normal
attached to and filed with the Form CT-1120SI. The
taxable year, resulting in an accounting period of less
than 12 months for federal income tax purposes, the
S corporation must retain a copy of each Form
CT-1NA with its records.
return is due the 15th day of the fourth month after the
end of the accounting period.
Accounting Period and Method of
How to Request an Extension of Time
Accounting
to File the Return
An S corporation’s accounting period and method of
accounting for Connecticut tax purposes must be the
To get an extension of time to file the annual return, the
S Corporation must file Form CT-1120SI EXT,
same as the S corporation’s accounting period and
method of accounting for federal income tax purposes.
Application for Extension of Time to File Connecticut
S Corporation Information and Composite Income
If an S corporation’s accounting period or method of
Tax Return, not later than the fifteenth day of the fourth
accounting is changed for federal income tax purposes,
month following the close of the taxable period, together
the accounting period or method of accounting must be
with payment of the total tax due. The filing of this form
similarly changed for Connecticut income tax purposes.
will automatically extend the due date for six months
only if federal Form 7004, Application for Automatic
Extension of Time to File Corporation Return, has been
When to File Form CT-1120SI
filed with the Internal Revenue Service. If federal Form
You must file a return for a taxable period ending
7004 was not filed, the S corporation can apply for a six-
December 31 not later than April 15 of the following
month extension to file Form CT-1120SI, provided there
year, and, for any other taxable period, not later than the
is reasonable cause for the request.
fifteenth day of the fourth month following the close of
Form CT-1120SI EXT only extends the time to
the taxable period. The return will be timely filed if the
file a return, but it does not extend the time to
date shown by the U.S. Postal Service cancellation mark
pay the amount of income tax due. See Penalties
is on or before the due date of the return. If the due
and Interest on Page 8.
date falls on a Saturday, Sunday or legal holiday, the next
business date is the due date. (Due to the Patriot's Day
If an officer is unable, by reason of illness, absence or
holiday, this return will be timely filed if received or if the
other good cause, to request an extension, any person
date shown by the U.S. Postal Service cancellation mark
standing in a close personal or business relationship
Page 7
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