Form Ct-1120a-Sbc - Corporation Business Tax Return Apportionment Computation - Securities Brokerage Services

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Form CT-1120A-SBC
Department of Revenue Services
State of Connecticut
Corporation Business Tax Return
(Rev. 12/12)
Apportionment Computation - Securities Brokerage Services
Enter
Income Year Beginning _______________________ , _______ , and Ending ___________________ , _______
Corporation name
Connecticut Tax Registration Number
Schedule A-1 – Computation of Connecticut Net Income
Complete this form in blue or black ink only. Use Form CT-1120A-SBC
to apportion net income from securities brokerage services.
Complete Schedule A-1 if the taxable net income for a securities
brokerage services company is derived in part from sources other than
A corporation must apportion income from securities brokerage services
separately using Form CT-1120A-SBC. If the corporation qualifies as
securities brokerage services.
a financial service company, all other income will be apportioned using
Definitions
Form CT-1120A-FS, Corporation Business Tax Return Apportionment
Securities brokerage services means services and activities including all
Computation of Income From Financial Service Company Activities.
aspects of purchasing and selling of securities rendered by a broker or dealer
If the company does not qualify as a financial service company, all
as defined in 15 USC §78c(a)(4), and registered under the provisions of
other income must be apportioned in accordance with the appropriate
15 USC §§78a-78kk, inclusive. Securities brokerage services do not
schedule.
include services rendered by a bank or any other person buying and
selling securities for a person’s own account either individually or in a
Schedule R-SBC – Net Income Apportionment
fiduciary capacity.
Complete Schedule R-SBC and enter the resulting apportionment
Securities means security as defined in 15 USC §78c(a)(10).
fraction from Line 3 on Form CT-1120, Corporation Business Tax Return,
Schedule A, Line 2, only if the corporation’s entire net income is derived
Brokerage commissions include but are not limited to all sales fees
from securities brokerage services. If the corporation’s net income is
on agency or principal transactions, whether charged explicitly or
derived in part from sources other than securities brokerage services,
implicitly.
complete Schedule R-SBC and Schedule A-1.
Domicile of a customer shall be presumed to be the customer’s mailing
address on the records of the corporation.
Schedule R-SBC – Net Income Apportionment
Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
1.
1.
taxpayer’s customers who are domiciled in Connecticut ...............................................................................................
Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
2.
2.
taxpayer’s customers wherever domiciled .....................................................................................................................
3. Apportionment fraction for securities brokerage services company: Divide Line 1 by Line 2. Carry to six places. .......
3.
0.
Schedule A-1 – Computation of Connecticut Net Income
Column A
Column B
Column C
Net income derived
Net income derived
Net income derived
Total Net
from financial services
from securities
from sources other
Income
other than securities
than securities
brokerage services
brokerage services
brokerage services or
financial services
4. Net income from Form CT-1120, Schedule A, Line 1
4.
Securities brokerage service company apportionment
5.
5.
fraction from Schedule R-SBC, Line 3: Carry to six places.
0.
Financial service company apportionment fraction from
6.
Form CT-1120A-FS, Line 15: Carry to six places.
6.
0.
Securities brokerage service company apportionment fraction
7.
7.
from the applicable apportionment form: Carry to six places.
0.
Balances after apportionment: Multiply Line 4, Column A, by
8.
Line 5, Column A. Multiply Line 4, Column B, by Line 6,
8.
Column B. Multiply Line 4, Column C, by Line 7, Column C.
Securities brokerage service company Connecticut net
income: Add Line 8, Columns A through C. Enter the total
9.
9.
here and on Form CT-1120, Schedule A, Line 3. Make no
entries on Form CT-1120, Schedule A, Line 1 and Line 2.

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