Form Ct-1065 - Connecticut Partnership Income Tax Return And Instructions

TABLE OF CONTENTS

WHAT'S NEW ....................................................... 4

Waiver of Penalty .................................................................. 8

Recordkeeping ....................................................................... 8

GENERAL INFORMATION ................................... 4

Copies of Returns ................................................................. 8

How to Get Help ................................................................. 4

FORM CT-1065 INSTRUCTIONS ........................... 9

How to Get Additional Forms and Publications .................... 4

General Instructions .............................................................. 9

Who Must File Form CT-1065 .......................................... 5

Rounding Off to Whole Dollars ........................................... 9

When to File Form CT-1065 .............................................. 5

Questions A Through I ......................................................... 9

How do Partners Report Their Income ............................... 6

Resident Partners ... 6

Schedule A - Business Information ...................................... 9

Nonresident Partners ... 6

Schedule B - Income Apportionment ................................... 9

Partners That Are Flow-Through Entities ... 6

Signature .............................................................................. 11

Partners That Are C Corporations ... 6

Paid Preparer Signature ....................................................... 11

Group Returns for Nonresident Individual Partners .......... 6

Paid Preparer Authorization ............................................... 11

Where to File ........................................................................ 7

Mailing the Return .............................................................. 11

Taxable Year and Method of Accounting ............................. 7

Schedule C - Partner Information ....................................... 11

What Information Must be Provided to Partners ............... 7

Schedule D - Partners' Share of

Amended Returns ................................................................. 7

Connecticut Modifications ................................................. 11

Extension Request ................................................................ 8

Schedule E - Computation of Connecticut

Penalties ............................................................................... 8

Source Income ................................................................... 14

Penalty for Late Filing ... 8

CONNECTICUT TAX ASSISTANCE ..... Back Cover

Penalty for Failure to File ... 8

OTHER TAXES FOR WHICH THE PARTNERSHIP MAY BE LIABLE

The information that follows is intended to be a general

See Special Notice 2002(11), Business Entity Tax, and

description of other Connecticut taxes for which a

Informational Publication 2003(15), Q & A on the Business

partnership may be liable. Failure to pay these or any other

Entity Tax, for more information.

taxes may subject the partnership and its partners to civil

Connecticut Income Tax Withholding

and criminal penalties.

Any partnership (S corporation) that maintains an office or

To register for sales and use taxes and Connecticut income

transacts business in Connecticut (regardless of the location

tax withholding as well as most other Connecticut taxes

of the payroll department) and that is considered an employer

administered by the Department of Revenue Services (DRS),

for federal income tax withholding purposes must withhold

the partnership must complete Form REG-1, Business Taxes

Connecticut income tax from Connecticut wages, as defined

Registration Application. Visit the DRS Web site to register

in Conn. Agencies Regs. §12-706(b)-1. (See Circular CT.)

on-line. If the partnership already has a Connecticut Tax

Registration Number, the partnership may register for any

Controlling Interest Transfer Tax

additional taxes for which it is liable by contacting the DRS

Connecticut imposes a tax on the transfer of a controlling

Registration Unit at 860-297-4885.

interest in an entity where the entity owns, directly or

indirectly, an interest in Connecticut real property. This tax

Business Entity Tax (Form OP-424)

is reported on Form AU-330, Controlling Interest Transfer

For taxable years beginning on or after January 1, 2002, and

Taxes. See Special Notice 2003(11), 2003 Legislation

prior to January 1, 2003, there is an annual business entity

Affecting the Controlling Interest Transfer Taxes.

tax (BET) of $250. For taxable years beginning on or after

January 1, 2003, and prior to January 1, 2004, the BET is

Real Estate Conveyance Taxes

$300. For taxable years beginning on or after January 1,

If a partnership transfers real estate in Connecticut, it must

2004, the BET is $250. The BET applies to each of the

complete and file Form OP-236, Real Estate Conveyance

following entities, if required to file an annual report with

Tax Return, in the town in which the real estate is situated.

the Connecticut Secretary of the State:

Sales and Use Taxes

• S Corporation;

• Limited Liability Partnership;

A partnership may be responsible for the filing of sales and

use tax returns. Sales tax is due if the company makes sales

• Limited Partnership; or

of taxable goods or services. Use tax is due on the purchase

• Limited Liability Company, which is, for federal income

of taxable goods or services, generally from out-of-state

tax purposes, either treated as a partnership if it has two

retailers or Connecticut retailers who have failed to collect

or more members, or disregarded as an entity separate

the sales tax. Both taxes are reported on Form OS-114,

from its owner, if it has a single member.

Sales and Use Tax Return.

Page 3

Form Ct-1065 - Connecticut Partnership Income Tax Return And Instructions - 2003 Page 3

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