Form Ct-1120x - Amended Corporation Business Tax Return Instructions

Step 5: Use Column A to enter the amount shown on your original

ESA, ESB, ESC, or ESD, Estimated Corporation Business Tax.

return or as adjusted by any prior audit or amended return.

Line 7c - Enter the amount of any overpayment from the prior year.

Step 6: Use Column C to report the corrected amount for each line.

Line 7d - Enter the tax paid with the original return plus additional

If there is no change, enter the amount from Column A in Column C.

tax paid after the original return was filed.

Step 7: Use Column B to enter the net increase or decrease from

Line 7 - Add Lines 7a through 7d.

Column A to Column C.

Line 8 - Enter the overpayment on original return or as last adjusted.

Step 8: Explain each change in the space provide on Page 2 of Form

Line 9 - Enter the net payments made to date. Subtract Line 8

CT-1120X. Attach additional forms and schedules if necessary. If

from Line 7.

amending to claim a tax credit, attach Form CT-1120K, Business

Line 10a - Enter the amount to be credited to estimated tax. If

Tax Credit Summary.

Line 9, Column C is greater than Line 6, Column C, enter the

Line Instructions

amount overpaid.

Schedules A, B & D

A request to apply an overpayment to estimated tax is

Please refer to the line instructions for either Form CT-1120,

irrevocable. See Informational Publication 2013(18), Q&A on

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

Estimated Corporation Business Tax and Worksheet CT-1120AE.

Corporation Business Tax Return, and related schedules and forms.

Line 10b - Enter the amount of overpayment to be refunded.

Schedule C - Computation of Amount Payable

Line 11 - If Line 6, Column C is greater than Line 9, Column C,

Line 1a - Enter the amount from Schedule A, Line 6; Schedule B,

Line 6; or $250 multiplied by the number of corporations included

enter the amount of tax due.

in the return, whichever is greater.

Line 12 - Enter the interest due on tax not paid by the original due

date. Interest is computed at 1% per month or fraction of a month

Line 1b - Form CT-1120 Filers: Multiply Line 1a by 20%. If the

on the underpayment of tax from the original due date of the tax

amount on Line 1a is $250 or the amount on federal Form 1120,

through the date of payment.

Line 11 is less than $100 million, enter “0.”

Form CT-1120U Filers: Multiply Line 1a by 20%. If Line 1a is

Line 13 - Enter the balance due with this return. Add Line 11 and

the minimum tax calculation, enter ‘0.”

Line 12.

Line 1c - Enter the total tax credits that must be recaptured. The

Signature

following tax credits are subject to recapture:

The return must be signed by a duly authorized officer.

• Historic Preservation

Paid Preparer Signature

• Fixed Capital Investment

A paid preparer must sign and date Form CT-1120X. Paid preparers

• Insurance Reinvestment

must also enter their Social Security Number (SSN) or Preparer

• New Jobs Creation

Tax Identification Number (PTIN) and their firm’s FEIN in the

• Urban and Industrial Site Reinvestment

spaces provided.

In most cases, other than the Fixed Capital Investment tax credit,

the corporation will have been advised by the agency administering

the tax credit that recapture is required. A corporation is required

to recapture the Fixed Capital Investment tax credit when the fixed

capital is not held and used in Connecticut by the corporation for five

full years following its acquisition. See Form CT-1120 FCIC, Fixed

Capital Investment Tax Credit, to calculate the amount of tax credit

that must be recaptured. See the Guide to Connecticut Business Tax

Credits available on the Department of Revenue Services (DRS)

website at

Line 2 – Multiply Line 1 by 30%.

Line 5 - Enter the total tax credits applied from Form CT-1120K,

Business Tax Credit Summary, Part II, Line 11. Do not exceed the

amount on Line 4.

Line 7a - Enter the amount paid with Form CT-1120 EXT,

Application for Extension of Time to File Corporation Business

Tax Return.

Line 7b - Enter the amount paid with estimate on Form CT-1120

Form CT-1120X Instructions (Rev. 12/13)

Page 2 of 2

Form Ct-1120x - Amended Corporation Business Tax Return Instructions - 2013 Page 2

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