Instructions For Form Ct-1120u - Unitary Corporation Business Tax Return - 2011 Page 5
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6Schedule C - Computation of Amount Payable
No. 101
Name of Depositor
Date
Street Address
Line 1(a) - Enter the amount from Schedule A, Line 6; Schedule B,
City, State, Zip Code
Line 6; or the minimum tax calculation, whichever is greatest.
Pay to the
$
Order of
Line 1(b) - If Line 1a is the minimum tax calculation, enter zero (0).
Otherwise, multiply Line 1a by 10%.
Name of your Bank
Line 1(c) - Enter the total tax credit that must be recaptured. The
Street Address
following tax credits are subject to recapture:
City, State, Zip Code
•
Historic Preservation
092125789
091 025 025413
0101
•
Fixed Capital Investment
•
Insurance Reinvestment
Routing Number
Account Number
•
New Jobs Creation
Enter your nine-digit bank routing number and your bank account
•
Urban and Industrial Site Reinvestment
number in Lines 10d and 10e. Your bank routing number is
normally the fi rst nine-digit number printed on your check or savings
In most cases, other than the Fixed Capital Investment tax credit,
withdrawal slip. Your bank account number generally follows the
the corporation will have been advised by the agency administering
bank routing number. Do not include the check number as part of
the tax credit that recapture is required. A corporation is required
your account number. Bank account numbers can be up to 17 digits
to recapture the Fixed Capital Investment tax credit when the fi xed
and must be numeric.
capital is not held and used in Connecticut by the corporation for fi ve
full years following its acquisition. See Form CT-1120 FCIC, Fixed
If any of the bank information you supply for direct deposit does not
Capital Investment Tax Credit, to calculate the amount of tax credit
match or you close the applicable bank account prior to the deposit
that must be recaptured. See Informational Publication 2010(13),
of the refund, your refund will automatically be mailed to you.
Guide to Connecticut Business Tax Credits.
Line 10(f) - Federal banking rules require DRS to request information
Line 2 – Multiply Line 1 by 30%. If the unitary group has an average
about foreign bank accounts when the taxpayer requests the
monthly net employment gain of greater than zero as calculated on
direct deposit of a refund into a bank account. If the refund is to
Form CT-1120 TCE, multiply Line 1 by 30% and then subtract the
be deposited in a bank outside of the United States, DRS will mail
amount from Form CT-1120 TCE, Line 16.
your refund to you.
Line 5 - Enter the total tax credits applied from Form CT-1120K,
Line 10 - Add Line 10(a) and Line 10(b).
Business Tax Credit Summary, Part II, Line 11. Do not exceed the
Schedule D - Computation of Net Income
amount on Line 4. Carryforward credits from pre-unitary fi ling years
Line 1 - Enter the total federal taxable income (loss) before net
cannot be used.
operating loss and special deductions of all the companies that are
Line 7(a) - Enter the amount paid with Form CT-1120 EXT.
included in the Connecticut unitary group.
Line 7(b) - Enter the amount(s) paid with Form CT-1120 ESA, ESB,
Line 2 - Enter the total interest income exempt from federal taxation
ESC, or ESD.
of all companies included in the Connecticut unitary group.
Line 7(c) - Enter the amount of any overpayment from the prior year.
Line 3 - Enter the total unallowable deduction for corporation
business tax of all companies included in the Connecticut unitary
Line 7 - Add Lines 7(a), 7(b), and 7(c).
group.
Line 9(a) - Enter penalty if applicable. See Interest and Penalties.
Line 4 - Enter the total interest expense paid to related members
Line 9(b) - Enter interest due on tax not paid by the original due
from Form CT-1120AB, Part I A, Line 1.
date. See Interest and Penalties.
Line 5 - Enter the total intangible expense paid to related members
Line 9(c) - Enter interest due on underpayment of estimated tax.
from Form CT-1120AB, Part I B, Line 3.
Complete and attach Form CT-1120I.
Line 6 - Enter the amount of the federal bonus depreciation allowed
Line 9 - Add Lines 9(a), 9(b), and 9(c).
under IRC §168(k) and claimed on federal Form 4562, Depreciation
Line 10(a) - Enter the amount of overpayment to be credited to
and Amortization.
2012 estimated tax.
Line 8 - Enter the IRC §199 domestic production activities
The overpayment will be treated as estimated tax paid on the fi fteenth
deduction from federal Form 1120, Line 25.
day of the third month (March 15 for calendar year fi lers), if the tax
Line 9 - Enter any other income amount. Attach an explanation.
return is fi led on time or if the tax return is fi led within the extension
Line 11 - Enter the dividend deduction calculated on Form CT-1120
period if a timely request for extension was fi led. A request to apply
ATT, Schedule I, Line 5.
an overpayment to the following income year is irrevocable.
See IP 2011(21), Q&A on Estimated Corporation Business Tax and
Line 12 - Enter the amount of any available capital loss carryover not
Worksheet CT-1120AE.
deducted in computing federal capital gain. This amount is limited
to the amount of the capital gain reported on the federal return as
Line 10(b) – Enter the amount of overpayment to be refunded.
provided in Conn. Gen. Stat. §12-217.
Lines 10(c) through 10(e) – Get your refund faster by choosing
Line 13 - Enter the value of any capital gain realized from the sale of
direct deposit. Complete lines 10c, 10d and 10e to have your refund
any land or interest in land, to the state, any political subdivision of
directly deposited into your checking or savings account.
the state, or to any nonprofi t land conservation organization where
the land is to be permanently preserved as protected open space or
to a water company, as defi ned in Conn. Gen. Stat. §25-32a, where
the land is to be permanently preserved as protected open space
or as Class I or Class II water company land.
Form CT-1120U Instructions (Rev. 12/11)
Page 5 of 6
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