Instructions For Form Ct-1120cr - Combined Corporation Business Tax Return

In most cases, other than the Fixed Capital Investment tax

No. 101

Name of Depositor

Date

Street Address

credit, the corporation will have been advised by the agency

City, State, Zip Code

Pay to the

administering the tax credit that recapture is required. A

Order of

corporation is required to recapture the Fixed Capital Investment

tax credit when the fixed capital is not held and used in

Name of your Bank

Connecticut by the corporation for ﬁ ve full years following

Street Address

its acquisition. See Form CT-1120 FCIC, Fixed Capital

City, State, Zip Code

Investment Tax Credit, to calculate the amount of tax credit that

092125789

091 025 025413

0101

must be recaptured. See Informational Publication 2010(13),

Guide to Connecticut Business Tax Credits.

Routing Number

Account Number

Line 6 - To compute the preference tax, subtract Line 5, Total

Enter your nine-digit bank routing number and your bank

Combined Tax, from Line 1, Total Separate Taxes. If the amount

account number in Lines 17d and 17e. Your bank routing number

is zero or less, enter “0.” If the amount is greater than zero, enter

is normally the ﬁ rst nine-digit number printed on your check or

the amount up to a maximum of $500,000.

savings withdrawal slip. Your bank account number generally

follows the bank routing number. Do not include the check

Line 8 - Multiply Line 1 by 30%. If the combined group has an

number as part of your account number. Bank account numbers

average monthly net employment gain of greater than zero as

can be up to 17 digits and must be numeric.

calculated on Form CT-1120 TCE, multiply Line 1 by 30% and

then subtract the amount from Form CT-1120 TCE, Line 16.

If any of the bank information you supply for direct deposit

does not match or you close the applicable bank account prior

Line 9 – Multiply the number of included corporations by $250.

to the deposit of the refund, your refund will automatically be

Line 12 - Enter the total tax credits applied from Schedule

mailed to you.

KC, Combined Tax Credits, Part II, Line 11. Do not exceed the

Line 17(f) - Federal banking rules require DRS to request

amount on Line 11.

information about foreign bank accounts when the taxpayer

Line 14a - Enter the amount paid with Form CT-1120 EXT.

requests the direct deposit of a refund into a bank account. If

Line 14b - Enter the amount(s) paid with Form CT-1120 ESA,

the refund is to be deposited in a bank outside of the United

ESB, ESC, or ESD.

States, DRS will mail your refund to you.

Line 14c - Enter the amount of any overpayment from the

Part V - Connecticut Combined Operating Loss

prior year.

Carryover

Line 14 - Add Lines 14a, 14b, and 14c.

Lines 1 through 13 - Enter the amount of the combined

Connecticut apportioned operating income (loss) carryover

Line 16a - Enter penalty if applicable. See Interest and Penalties

from the preceding income years indicated as reported on

in the instructions for Form CT-1120, Corporation Business

Connecticut corporation business tax returns ﬁ led for those

Tax Return.

years. Net operating losses incurred in income years beginning

Line 16b - Enter interest due on tax not paid by the original

on or after January 1, 2000, may be carried forward for

due date. See Interest and Penalties in the instructions for Form

20 successive income years.

CT-1120, Corporation Business Tax Return.

Line 14 - Add Lines 1 through 13 in Column D and Column E,

Line 16c - Enter interest due on underpayment of estimated tax.

enter the total on Line 14, Column D and Column E. Enter the

Complete and attach Form CT-1120I.

amount from Line 14, Column D on Part II, Computation of

Line 16 - Add Lines 16a, 16b, and 16c.

Combined Net Income, Line 27, Combined Total column.

Line 17(a) - Enter the amount of overpayment to be credited

Signature

to 2012 estimated tax.

The return must be signed by a duly authorized ofﬁ cer.

The overpayment will be treated as estimated tax paid on the

Paid Preparer Signature

ﬁ fteenth day of the third month (March 15 for calendar year

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

ﬁ lers), if the tax return is ﬁ led on time or if the tax return

preparers must also enter their Social Security Number (SSN)

is ﬁ led within the extension period if a timely request for

or Preparer Tax Identiﬁ cation Number (PTIN) and their ﬁ rm’s

extension was ﬁ led. A request to apply an overpayment to

FEIN in the spaces provided.

the following income year is irrevocable. See IP 2011(21),

Q&A on Estimated Corporation Business Tax and Worksheet

Paid Preparer Authorization

CT-1120AE.

If the corporation wishes to allow DRS to contact the paid

Line 17(b) – Enter the amount of overpayment to be refunded.

preparer who signed the 2011 Combined Corporation Business

Tax Return, check the Yes box in the signature area of the

Lines 17(c) through 17(e) – Get your refund faster by choosing

return. This authorization applies only to the individual whose

direct deposit. Complete lines 17c, 17d and 17e to have your

signature appears in the Paid Preparer’s Signature section of

refund directly deposited into your checking or savings account.

the return. It does not apply to the ﬁ rm, if any, shown in that

section.

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

Page 5 of 6

Instructions For Form Ct-1120cr - Combined Corporation Business Tax Return - 2011 Page 5

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