Instructions For Form Ct-990t - Connecticut Department Of Revenue Services (Page 3 of 4) in pdf

COMPUTATION OF TAX

SCHEDULE A - UNRELATED BUSINESS INCOME

Line 1 -

Enter the unrelated business taxable income from

Computation

APPORTIONMENT

of Income,

Line 6. An organization that may not apportion its unrelated

This schedule should be completed by organizations that have a regular

business taxable income must also enter this amount on

Computation of

place of business outside Connecticut at which their unrelated trade or

Tax,

Line 3.

business is conducted. Otherwise, the Connecticut business apportionment

should be 100%.

Line 2 -

If the organization is entitled to apportion its income, enter the

Item 1.

apportionment fraction computed on

Form CT-990T,

Schedule A,

Line

Enter in Column A the average value of the taxpayer’s real and

5. The fraction must be expressed as a decimal and carried to six places.

tangible personal property, without any deduction on account of any

encumbrance on the property, owned and used in its unrelated trade or

Line 3 -

Enter the amount of the Connecticut unrelated business taxable

business within Connecticut during the period covered by the taxpayer’s

income. This amount is either the amount on Line 1 or the amount on

return and the value of real and tangible personal property rented to the

Line 1 multiplied by the apportionment fraction on Line 2.

taxpayer and used in its unrelated trade or business within Connecticut

during the period covered by the taxpayer’s return.

Line 4 -

Enter the amount of operating loss carryover apportioned to

Connecticut from 1998

Form CT-990T,

Schedule B,

Line 6.

Enter in Column B the average value of all the taxpayer’s real and tangible

personal property, without any deduction on account of any encumbrance

Line 5 -

Subtract Line 4 from Line 3 and enter the result on Line 5.

on the property, owned and used in its unrelated trade or business within

and outside Connecticut during the period covered by the taxpayer’s return

Line 6 -

Multiply the amount on Line 5 by 8.5% (.085) to compute the

and the value of all real and tangible personal property rented to the

amount of tax due and enter the result on Line 6.

taxpayer and used in its unrelated trade or business within and outside

Connecticut during the period covered by the taxpayer’s return.

COMPUTATION OF AMOUNT PAYABLE

Line 1 -

Enter the amount from

Computation of Tax,

Line 6.

Tangible personal property

is defined in Conn. Gen. Stat. §12-242bb(d)

as meaning corporeal personal property, such as machinery, tools,

Line 2 -

Enter the amount of tax credit from 1999

Form CT-1120 EDPC,

implements, goods, wares, and merchandise, but not including money,

Electronic Data Processing Equipment Property Tax Credit,

Part II, Line

deposits in banks, shares of stock, bonds, notes, credits or evidences of

6, Column D. (Attach form if applicable)

an interest in property, and evidences of debt.

Line 3 -

Subtract Line 2 from Line 1 and enter the result on Line 3. If

The

average value

of real and tangible personal property owned and

negative, enter zero.

used by the taxpayer in its unrelated trade or business shall be its average

monthly net book value. Compute the value of real and tangible personal

Line 4 -

Enter on Lines 4a, 4b, and 4c all prepayments that were made.

property rented to the taxpayer and used in its unrelated trade or business

Enter the total on Line 4.

by multiplying by eight the gross rents, as defined in Conn. Gen. Stat.

§12-218(b), payable during the income year.

Line 5 -

Subtract Line 4 from Line 3 and enter the result on Line 5.

Item 2.

Enter in Column A the receipts of the taxpayer’s unrelated trade

Line 6a -

Enter the amount of overpayment to be credited to 2000

or business, computed on the cash or accrual basis according to the method

estimated tax.

of accounting used in the computation of the taxpayer’s unrelated business

taxable income, arising during the period covered by the taxpayer’s return

NOTE:

Overpayments are credited only as of the receipt date of the

from (a) sales of tangible personal property by the unrelated trade or

completed

Form CT-990T.

business where shipments are made to points within Connecticut, (b)

services performed within Connecticut by the unrelated trade or business,

Line 6b -

Enter the amount of overpayment to be refunded.

Connecticut, and (d) all other receipts earned by the unrelated trade or

Line 6 -

Add Line 6a and Line 6b.

business within Connecticut.

Line 7a -

Enter penalty if applicable. (See Instructions for penalty

Enter in Column B the total receipts of the unrelated trade or business,

calculation.)

similarly computed, arising during the period covered by the taxpayer’s

return from all sales of tangible personal property, services, rentals, and

Line 7b -

Enter interest due on tax paid by the original due date. (See

all other transactions, within and outside Connecticut.

Instructions for interest calculation.)

Item 3.

Enter in Column A the wages, salaries, and other personal service

Line 7c -

Enter interest due on underpayment of estimated tax. (Complete

compensation, similarly computed, during the period covered by the

and attach 1999

Form CT-1120I.

)

taxpayer’s return, of employees, except general executive officers, of the

taxpayer’s unrelated trade or business within Connecticut.

Line 7 -

Balance Due - Add Lines 5, 7a, 7b, and 7c and enter the result

on Line 7.

CT-990T Instructions (Rev. 12/99)

Page 3 of 4

STF CT31787I.3

Instructions For Form Ct-990t - Connecticut Department Of Revenue Services Page 3

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