Form Ct-1065/ Ct-1120si - Connecticut Composite Income Tax Return And Instructions - 2013 Page 10
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32CT-1041, Schedule A, and amounts of PE income
its members as reported on the parent PE’s
or loss derived from or connected with Connecticut
Form CT-1065/CT-1120SI, Part I, Schedule B,
sources that the member must include on Schedule
Column F.
CT-1041FA, Fiduciary Allocation.
For fi ling requirements of a nonresident trust or estate,
Composite Payment of Tax
see instructions for Form CT-1041, Connecticut
The PE should not rely or act on a statement
Income Tax Return for Trusts and Estates.
made by a member that a Connecticut income tax
payment, including estimated Connecticut income
tax payments, have been made by the member for
Member That Is Itself a Pass-Through Entity
the taxable year. The PE must make an annual
If the member is a PE, it is referred to as a parent
Connecticut income tax payment on behalf of
PE and the PE of which it is a member is referred
the member where the following criteria are met
to as a subsidiary PE. The parent PE’s share of the
regardless of any instructions to the contrary by the
subsidiary PE’s income or loss is included in the
member to the PE:
income or loss reported on the parent PE’s federal
Form 1065 or federal Form 1120S, as the case
•
The member is a nonresident noncorporate
may be, and is, therefore, included in the income
member or a PE; and
or loss reported on the parent PE’s Form CT-1065/
•
The member’s share of the PE’s income derived
CT-1120SI. The subsidiary PE must furnish a
from or connected with Connecticut sources is
Schedule CT K-1 to the parent PE and report:
$1,000 or more.
•
Connecticut modifi cations that the parent PE must
The annual income tax payment that a PE is required
include on Form CT-1065/CT-1120SI, Part V;
to make on behalf of nonresident noncorporate or PE
•
Amounts of the subsidiary PE’s income or loss
members must be calculated using the highest marginal
derived from or connected with Connecticut
rate of 6.7%. Interest and penalty will be assessed on
sources that the parent PE must report on its
the Connecticut income tax payment required to be
Form CT-1065/CT-1120SI, Part I, Schedule D,
made but not made by the PE on behalf of a member.
Column B, and must include on its Form
CT-1065/CT-1120SI, Part VI;
Estimated Payments
•
Amounts of income tax credits that the parent
A PE is not required to make estimated Connecticut
PE must include on Form CT-1065/CT-1120SI,
income tax payments on behalf of its nonresident
Part VII; and
members.
•
The Connecticut income tax liability that the
parent PE must report on its Form CT-1065/
Domestic Production Activity Deduction
CT-1120SI, Part I, Schedule D, Column C.
The domestic production activity deduction allowed
The parent PE must, in turn, provide its members
under Internal Revenue Code (IRC) §199 is not
with:
allowed for Connecticut income tax purposes. See
•
A Schedule CT K-1 reporting their share of the
Special Notice 2009(3), 2009 Legislative Changes
Connecticut modifi cations as reported on the
Affecting the Income Tax.
parent PE’s Form CT-1065/CT-1120SI, Part V;
•
Their share of the amounts of the parent PE’s
Tax Credits
income or loss derived from or connected with
The following credits are applicable against the
Connecticut sources as reported on the parent
income tax. For more information regarding additional
PE’s Form CT-1065/CT-1120SI, Part VI;
requirements and limitations to these credits, see
•
Their share of the parent PE's income tax credits
Special Notice 2010(3), 2010 Legislative Changes
as reported on the parent PE's Form CT-1065/
Affecting the Income Tax; Special Notice 2012(6),
CT-1120SI, Part VII; and
2012 Legislative Changes Affecting the Income Tax;
or contact the Department of Economic Development
•
Their share of the Connecticut income tax
(DECD) or Connecticut Innovations Inc.
liability paid by the parent PE on behalf of
Page 10
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