Instructions For Form Ct-1120 - Connecticut Corporation Business Tax

General Information

How to Get Help

The following companies, organizations, or associations

are exempt from payment of Connecticut corporation

DRS is ready to help you get answers to Connecticut tax

business tax but must register with DRS and file

questions. Visit the DRS website at or

Form CT-1120 to claim the exemption:

call 800-382-9463 (Connecticut calls outside the Greater

• A homeowner’s association that has elected to be

Hartford calling area only) or 860-297-5962 (from

treated as such for federal income tax purposes

anywhere) during business hours. For personal assistance

visit the DRS office at 25 Sigourney Street, Hartford. Be

(a copy of federal Form 1120-H must be attached to

its Form CT-1120);

sure to bring your completed federal return if applicable.

• Certain political organizations or associations exempt

Forms and Publications

from federal income taxes under IRC §527 (if the

organization or association files federal Form 1120-POL,

Visit the DRS website at to download

then it must be attached to the Form CT-1120);

and print Connecticut tax forms and publications anytime.

• Financial service companies whose corporate

Who Must File

headquarters are located in the export zone in the City

of Hartford, Connecticut, and who are conducting all

Form CT-1120, Corporation Business Tax Return, must

of their business outside the United States; and

be filed by every corporation (or association taxable as a

• Passive investment companies (PICs), as defined

corporation) that carries on business or has the right to carry

under Conn. Gen. Stat. §12-213(a)(27), must file

on business in Connecticut. Any corporation dissolved or

Form CT-1120 PIC, Information Return for Passive

withdrawn from Connecticut is subject to the corporation

Investment Companies, in place of Form CT-1120.

business tax up to the date of dissolution or withdrawal.

Corporations electing to file a combined return must also

Accounting Period and Method of

complete Form CT-1120CR, Combined Corporation

Accounting

Business Tax Return.

A corporation must use the same accounting period

Corporations electing to file a unitary return must

and method of accounting for Connecticut tax purposes

also complete Form CT-1120U, Unitary Corporation

as it does for federal tax purposes. If a corporation’s

Business Tax Return.

accounting period or method of accounting is changed

Who is Exempt From Corporation

for federal tax purposes, the same change must be made

for Connecticut tax purposes.

Business Tax

The following companies are exempt from filing

When to File

Form CT-1120:

Every corporation must file a return on or before the first

• Insurance companies incorporated under the laws of

day of the month following the due date of the company’s

corresponding federal income tax return for the income

any other state or foreign government, and domestic

insurance companies;

year (April 1 for calendar year taxpayers). In the case

of any company that is not required to file a federal

• Companies exempt by the federal corporation net

income tax law;

income tax return for the income year, the Connecticut

corporation business tax return is due on or before the first

• A domestic international sales corporation (DISC)

day of the fourth month following the end of the income

which has made a valid election for federal income

tax purposes to be treated as a DISC;

year. If the due date falls on a Saturday, Sunday, or legal

• Companies subject to gross earnings taxes under

holiday, the next business day is the due date.

The return will meet the timely filed and timely payment

Chapter 210 of the Connecticut General Statutes

or whose properties in Connecticut are operated by

rules if the U.S. Postal Service cancellation date, or the

railroad companies subject to gross earnings taxes

date recorded or marked by a designated private delivery

under Chapter 210;

service (PDS) using a designated type of service, is on or

• Cooperative housing corporations, as defined for

before the due date. Not all services provided by these

federal income tax purposes;

designated PDSs qualify.

• Corporate limited partners in one or more investment

partnerships that are otherwise not doing business in

Connecticut; and

• Non-United States corporations whose sole activity

in Connecticut is trading in stocks, securities, or

commodities for their own account.

Page 5

Instructions For Form Ct-1120 - Connecticut Corporation Business Tax - 2012 Page 5

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