Form Ct-990t - Connecticut Unrelated Business Income Tax Return Instructions

withdrawal slip. Your bank account number generally follows the

Enter in Column B the total receipts of the unrelated trade

bank routing number. Do not include the check number as part

or business from all sales of tangible personal property,

services, rentals, and all other transactions, within and outside

of your account number. Bank account numbers can be up to

Connecticut, during the period covered by this return.

17 digits and must be numeric.

If any of the bank information you supply for direct deposit does

Wages, Salaries, and Other Compensation

not match or you close the applicable bank account prior to the

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

deposit of the refund, your refund will automatically be mailed.

service compensation of employees, except general executive

Line 9(f) – Federal banking rules require DRS to request

officers, attributable to the taxpayer’s unrelated trade or

information about foreign bank accounts when the taxpayer

business within Connecticut, during the period covered by this

requests the direct deposit of a refund into a bank account. If the

return.

refund is to be deposited in a bank outside of the United States,

Enter in Column B the total wages, salaries, and other personal

DRS will mail your refund to you.

service compensation of employees, except general executive

Line 9 - Add Line 9(a) and Line 9(b).

officers, attributable to the taxpayer’s unrelated trade or

business within and outside Connecticut, during the period

Schedule A – Unrelated Business Income Apportionment

covered by this return.

This schedule should be completed by organizations that

If it appears to the Commissioner that the apportionment

carry on their unrelated trade or business within and outside

fraction does not properly reﬂ ect the activity, business, or

Connecticut and are taxable in another state on their unrelated

income of the taxpayer’s unrelated trade or business within the

business income during the income year for which the return

state, the Commissioner is authorized under Conn. Gen. Stat.

is ﬁ led.

§12-242bb(c) to employ an alternative method to allocate a fair

For Item 2, Receipts, and Item 3, Wages, salaries and other

and proper amount of the unrelated trade or business’s taxable

compensation, use the cash or accrual basis according to the

income to the state.

method of accounting used in the computation of the taxpayer’s

unrelated business taxable income.

Schedule B – Connecticut Apportioned Operating Loss

Carryover

Property

Lines 1 through 11 - Enter the amount of the Connecticut

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

apportioned operating loss carryover for each corresponding

tangible personal property, without any deduction on account

year from the applicable Form CT-990T, Schedule C, Line 5,

of any encumbrance on the property owned and used in its

that is available for use in 2011.

unrelated trade or business within Connecticut during the period

covered by the taxpayer’s return. Enter also the value of real

Line 12 - Total Connecticut apportioned operating loss

and tangible personal property rented to the taxpayer and used

carryover. Add Lines 1 through 11. Enter here and on the front

in its unrelated trade or business within Connecticut during the

of Form CT-990T, Computation of Tax, Line 4.

period covered by the taxpayer’s return.

Schedule C – Computation of Net Operating Loss

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

Carryforward

real and tangible personal property, without any deduction on

Complete Schedule C only if the organization has incurred

account of any encumbrance on the property owned and used

a loss as reported on Form CT-990T, Computation of Tax,

in its unrelated trade or business within and outside Connecticut

Line 3. This schedule computes the amount of net operating loss

during the period covered by the taxpayer’s return. Also enter

which the organization may deduct on Connecticut returns ﬁ led

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

for succeeding income years. The amount of the loss incurred in

taxpayer and used in its unrelated trade or business within and

the current year must be reduced by the amount of the speciﬁ c

outside Connecticut during the period covered by the taxpayer’s

deduction that was entered on the organization’s 2011 federal

return.

Form 990-T, Part II, Line 33.

Tangible personal property is deﬁ ned in Conn. Gen. Stat.

Line 1 - Enter the net operating loss as a negative number

§12-242bb(d) as meaning corporeal personal property, such as

realized for the 2011 income year as computed on Form

machinery, tools, implements, goods, wares, and merchandise,

CT-990T, Computation of Income, Line 6.

but not including money, deposits in banks, shares of stock,

Line 2 - Add back the amount of the speciﬁ c deduction as a

bonds, notes, credits, or evidences of an interest in property,

positive number from the 2011 federal Form 990-T, Part II,

and evidences of debt.

Line 33.

The average value of real and tangible personal property owned

Line 4 - Enter the apportionment fraction as determined on

and used by the taxpayer in its unrelated trade or business is its

Form CT-990T, Schedule A, Line 5.

average monthly net book value. Compute the value of real and

tangible personal property rented to the taxpayer and used in

Line 5 - Multiply Line 3 by Line 4. This is the amount of

its unrelated trade or business by multiplying by eight the gross

Connecticut net operating loss from 2011 which is available for

rents payable during the income year.

carryforward.

Receipts

An organization is allowed a 20-year carryforward for net

operating losses incurred in income years beginning on or after

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

January 1, 2000.

or business during the period covered by this return as follows:

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

business where shipments are made to points within Connecticut;

(b) services performed within Connecticut by the unrelated trade

or business; (c) rentals from property of the unrelated trade or

business situated within Connecticut; and (d) all other receipts

earned by the unrelated trade or business within Connecticut.

Form CT-990T Instructions (Rev. 12/11)

Page 4 of 4

Form Ct-990t - Connecticut Unrelated Business Income Tax Return Instructions - 2011 Page 4

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