Instructions For Form Ct-1120u - Unitary Corporation Business Tax Return

The required annual payment is the lesser of:

Penalty for Willful Filing of a Fraudulent or Materially False Return

• 90% of the tax shown on the return for the income year, or, if

If you willfully ﬁ le a tax return you know to be fraudulent or false in

no return is ﬁ led, 90% of the tax for such year; or

any material matter, you may be ﬁ ned up to $5,000 or imprisoned

from one to ﬁ ve years, or both.

•

100% of the tax shown on the return for the previous income

year without regard to any tax credit, if the previous income year

Penalty for Failure to Disclose Listed Transaction

was an income year of 12 months and if the company ﬁ led a

A penalty of 75% of the amount of the deﬁ ciency may be imposed

return for the previous income year showing a liability for tax.

when it appears that any part of the deﬁ ciency is due to failure to

Estimated tax due dates (for calendar year ﬁ lers):

disclose a listed transaction, as deﬁ ned in IRC §6707A.

1st Installment - March 15, 2012

Waiver of Penalty

To make a penalty waiver request, taxpayers must complete and

30% of prior year tax including surtax (without regard to credits)

submit Form DRS-PW, Request for Waiver of Civil Penalty, to the

or 27% of current year tax

DRS Penalty Waiver Unit. Taxpayers may mail Form DRS-PW to

2nd Installment - June 15, 2012

the address listed below or fax it to the Penalty Waiver Unit at 860-

297-4797.

70% of prior year tax including surtax (without regard to credits)

or 63% of current year tax

Department of Revenue Services

Penalty Waiver Unit

3rd Installment - September 15, 2012

PO Box 5089

80% of prior year tax including surtax (without regard to credits)

Hartford CT 06102-5089

or 72% of current year tax.

DRS will not consider a penalty waiver request unless it is

4th Installment - December 15, 2012

accompanied by a fully completed and properly executed Form

DRS-PW. For detailed information about the penalty waiver

100% of prior year tax including surtax (without regard to credits)

process, see Policy Statement 2010(1), Requests for Waiver of

or 90% of current year tax

Civil Penalties.

If the due date falls on a Saturday, Sunday, or legal holiday, the next

General Instructions

business day is the due date.

Complete this return in blue or black ink only.

The above table indicates the applicable percentage of the

required annual payment due by each installment due date

Required Information

under the regular installment method. For more information

Enter the beginning and ending dates of the parent or designated

regarding estimated corporation business tax payments,

Connecticut parent corporation’s income year regardless of whether

including information regarding the annualized installment

the corporation is a calendar year or ﬁ scal year ﬁ ler. Also, enter the

method, see Informational Publication 2011(21), Q & A

parent or designated Connecticut parent corporation’s Connecticut

on Estimated Corporation Business Tax and Worksheet

Tax Registration Number; FEIN; total assets from the corporation’s

CT-1120AE.

federal Form 1120, U.S. Corporation Income Tax Return, Schedule

L, Line 15, Column (d); gross receipts, net of returns and allowances

Interest

from federal Form 1120, Line 1c; and North American Industry

Interest is computed at 1% per month or fraction of a month on the

Classiﬁ cation System (NAICS) code for principal business activity,

underpayment of tax from the original due date of the return through

in the spaces provided at the top of Form CT-1120U.

the date of payment. Interest due on the underpayment of estimated

NAICS Code for Principal Business Activity

tax is computed using Form CT-1120I, Computation of Interest Due

on Underpayment of Estimated Tax. Interest on underpayment or

Form CT-NAICS, NAICS Codes for Principal Business Activity

late payment of tax cannot be waived.

for Connecticut Tax purposes is available on the DRS website.

Visit for general information concerning the

Penalty for Late Payment or Late Filing

classiﬁ cation of principal business activity under NAICS.

The penalty for late payment or underpayment of corporation

Check and Complete Applicable Boxes

business tax is 10% of the tax due or $50, whichever is greater. If a

request for a ﬁ ling extension has been granted, a corporation may

1. Address change. To make any changes to the parent or

avoid a penalty for failure to pay the full amount due by the original

designated Connecticut parent’s corporation address, clearly print

due date if it:

the new information, check the address change box, and ﬁ le Form

CT-8822C, Corporation Business Tax Change of Address. If the

•

Pays at least 90% of the tax shown to be due on the return on

address change box is checked, a completed Form CT-8822C must

or before the original due date of the return; and

be attached to Form CT-1120U.

•

Pays the balance due with the ﬁ ling of Form CT-1120U, on or

2. Unitary return status. If this is the last year that the unitary

before the extended due date.

group is ﬁ ling a unitary return, check the ﬁ nal box.

If no tax is due, DRS may impose a $50 penalty for the late ﬁ ling of

If the corporation is ﬁ ling for a short period, check the short period

any return or report required by law to be ﬁ led.

box.

Penalty for Willful Failure to File or Pay

3. Check the corresponding box to indicate if any corporation within

Anyone who willfully fails to pay the tax or ﬁ le a return may be ﬁ ned

the group has dissolved, withdrawn, merged, or reorganized:

up to $1,000 or imprisoned up to one year, or both, in addition to

•

Dissolution

any other penalty.

To properly dissolve a domestic corporation you must ﬁ le a

Certiﬁ cate of Dissolution with the Connecticut Ofﬁ ce of the

Secretary of the State. A dissolved corporation must ﬁ le a return

for the period up to the date of legal dissolution or the date of the

ﬁ nal liquidation of assets, whichever is later.

Form CT-1120U Instructions (Rev. 12/11)

Page 3 of 6

Instructions For Form Ct-1120u - Unitary Corporation Business Tax Return - 2011 Page 3

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