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Credit Against Estimated Payments

Signature

An overpayment of tax liability for 2013 will be applied against

An officer of the corporation must sign this form.

the first installment of estimated tax due in 2014 if the taxpayer

Paid Preparer Signature

timely files a completed Form CT-1120, Form CT-1120CR, or Form

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

CT-1120U and elects to apply an overpayment from 2013 against

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

its 2014 estimated tax.

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

Limit on Credits

in the spaces provided.

The amount of tax credit(s) otherwise allowable against the

Others Who May Sign

corporation business tax for any income year shall not exceed 70%

Anyone (including attorneys, accountants, and enrolled agents)

of the amount of tax due under the corporation business tax prior

with a signed Power of Attorney may sign for the corporation in

to the application of tax credits.

place of a corporate officer.

No tax credit allowed against the corporation business tax shall

reduce a company’s minimum tax to an amount less than $250.

Line Instructions

Line 1 - Enter the tax due for the current income year without

Tax Credit Recapture

regard to surtax or recapture. Include additional $250 tax for each

If the corporation is subject to recapture of tax credits, include the

company included in the return and any amount of preference

tax credit recapture amount in the total tax for the current income

tax due.

year.

Line 2 - Enter the surtax amount due. Taxpayers filing Form

CT-1120U, Form CT-1120CR, or those with gross income of

Surtax

$100 million or more, multiply Line 1 by 20% and enter the result.

For income years beginning on or after January 1, 2012, and prior

to January 1, 2016, companies whose gross income equals or

If Line 1 is $250, enter “0.” Taxpayers with less than $100 million

exceeds $100 million or who file as part of a combined or unitary

of gross income (from federal Form 1120, Line 11, amount in box

return must pay a surtax of 20% of the tax without regard to credits

at the top of Form CT-1120), that are not included in a return filed

and tax credit recapture. The surtax does not apply to the minimum

on Form CT-1120CR or Form CT-1120U, enter “0.”

tax of $250.

Line 3 - Add Line 1 and Line 2. Include tax credit recapture, if

applicable.

Special Instructions - Combined or Unitary Tentative

Line 4 - Multiply Line 3 by 30% (.30).

Corporation Business Tax Return

Affiliated corporations should file one Form CT-1120 EXT covering

Line 13 - Subtract Line 12 from Line 9.

all such corporations, if they:

Elected to file as part of a Form CT-1120CR, Combined

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

Unitary Corporation Business Tax Return in a prior income

year and have not subsequently revoked such election; or

Elect to file as part of a Form CT-1120CR or Form CT-1120U

for the first time in the current income year and attach a Form

CT-1120CC, Combined Return Consent for each affiliated

corporation to Form CT-1120 EXT.

A separate Form CT-1120 EXT must be filed for each corporation

with Connecticut nexus that has not made such an election. Such

corporations may still elect to file as part of a Form CT-1120CR or

Form CT-1120U up until the extended due date.

Affiliated corporations without Connecticut nexus that have not

previously made an election to be included in a Form CT-1120U

do not need to file a Form CT-1120 EXT. Such corporations may

still elect to file as part of a Form CT-1120U up until the extended

due date of the related corporations with which it may file.

Page 3 of 3

Form CT-1120 EXT (Rev. 12/13)

Form Ct-1120 Ext - Application For Extension Of Time To File Corporation Business Tax Return - 2013 Page 3

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