Form Ct-1120u - Unitary Corporation Business Tax Return Instructions Page 5
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7Minimum Tax Calculation
A corporation is required to recapture the Fixed Capital Investment
tax credit when the fixed capital is not held and used in Connecticut
Each corporation included in the unitary group is subject to the $250
by the corporation for five full years following its acquisition. See
minimum tax. Enter the total number of corporations in the unitary
return. Multiply Line 1 by $250 and enter the result on Line 2. This
Form CT-1120 FCIC, Fixed Capital Investment Tax Credit, to
calculate the amount of tax credit that must be recaptured. See
is the minimum tax.
Informational Publication 2010(13), Guide to Connecticut Business
Schedule A - Computation of Tax on Net Income
Tax Credits.
Line 2 - Enter a single apportionment fraction for all the corporations
Line 2 - Multiply Line 1 by 30%. If the unitary group has an average
included in the unitary group calculated using all such corporations’
monthly net employment gain of greater than zero as calculated on
property, payroll, and double weighted gross receipts, as reported on
Form CT-1120 TCE, multiply Line 1 by 30% and then subtract the
Form CT-1120A, Corporation Business Tax Return Apportionment
amount from Form CT-1120 TCE, Line 16.
Calculation, Schedule R, Line 6. The fraction must be expressed
Line 5 - Enter the total tax credits applied from Form CT-1120K,
as a decimal and carried to six places.
Business Tax Credit Summary, Part II, Line 11. Do not exceed the
Line 3 - Enter the amount from Line 1 multiplied by Line 2, or enter
amount on Line 4. Carryforward credits from pre-unitary filing years
the amount from Line 1, if not entitled to apportion.
cannot be used.
Line 4 - If this is the group’s first year filing a unitary return, no net
Line 7a - Enter the amount paid with Form CT-1120 EXT.
operating loss carryovers are allowed.
Line 7b - Enter the amount(s) paid with Form CT-1120 ESA, ESB,
If this is not a first year unitary filing, enter the amount of any unused
ESC, or ESD.
unitary losses from Form CT-1120 ATT, Corporation Business Tax
Line 7c - Enter the amount of any overpayment from the prior year.
Return Attachment, Schedule H, Line 14, Column D, attributable
to Connecticut business operations as reported in years ending
Line 7 - Add Lines 7a, 7b, and 7c.
December 31, 2000, and thereafter.
Line 9a - Enter penalty if applicable. See Interest and Penalties.
Net operating losses incurred for income years beginning on or after
Line 9b - Enter interest due on tax not paid by the original due date.
January 1, 2000, may be carried forward for 20 successive income
See Interest and Penalties.
years. Losses may not be carried back. The loss entered here is
Line 9c - Enter interest due on underpayment of estimated tax.
limited to the loss attributed to Connecticut according to the method
Complete and attach Form CT-1120I.
of apportionment prescribed in Conn. Gen. Stat. §12-218.
Line 9 - Add Lines 9a, 9b, and 9c.
Schedule B - Computation of Minimum Tax on Capital
Line 10a - Enter the amount of overpayment to be credited to 2013
The unitary group must calculate the capital tax base under Conn.
estimated tax.
Gen. Stat. §12-219 on a unitary basis.
The overpayment will be treated as estimated tax paid on the fifteenth
Line 2 - Enter the apportionment fraction from Form CT-1120A,
day of the third month (March 15 for calendar year filers), if the tax
Schedule S, Line 3, Column C. The fraction must be expressed as
return is filed on time or if the tax return is filed within the extension
a decimal and carried to six places.
period if a timely request for extension was filed. A request to apply
Line 3 - Enter the amount from Line 1 multiplied by Line 2, or enter
an overpayment to the following income year is irrevocable.
the amount from Line 1 if not entitled to apportion.
See IP 2012(10), Q&A on Estimated Corporation Business Tax and
Line 4 - Enter the number of months the unitary group carried
Worksheet CT-1120AE.
on business or had the right to carry on business in Connecticut,
Line 10b - Enter the amount of overpayment to be refunded.
whichever is greater. A fractional part of a month is counted as a
Lines 10c through 10e - Get the refund faster by choosing direct
full month.
deposit. Complete lines 10c, 10d and 10e to have the refund directly
Line 5 - Multiply Line 3 by Line 4. Divide the result by 12 and enter
deposited into a checking or savings account.
the amount.
No. 101
Name of Depositor
Schedule C - Computation of Amount Payable
Date
Street Address
City, State, Zip Code
Line 1a - Enter the amount from Schedule A, Line 6; Schedule B,
Pay to the
Order of
$
Line 6; or the minimum tax calculation, whichever is greatest.
Line 1b - If Line 1a is the minimum tax calculation, enter zero (0).
Otherwise, multiply Line 1a by 20%.
Name of your Bank
Street Address
Line 1c - Enter the total tax credit that must be recaptured. The
City, State, Zip Code
following tax credits are subject to recapture:
092125789
091 025 025413
0101
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Historic Preservation
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Fixed Capital Investment
Routing Number
Account Number
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Insurance Reinvestment
Enter the nine-digit bank routing number and the bank account
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New Jobs Creation
number in Lines 10d and 10e. The bank routing number is normally
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Urban and Industrial Site Reinvestment
the first nine-digit number printed on the check or savings withdrawal
In most cases, other than the Fixed Capital Investment tax credit,
slip. The bank account number generally follows the bank routing
the corporation will have been advised by the agency administering
number. Do not include the check number as part of the account
the tax credit that recapture is required.
number. Bank account numbers can be up to 17 characters.
Form CT-1120U Instructions (Rev. 01/13)
Page 5 of 7
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