Title 12 — Title 12: Taxation

Sec. 12-700. Imposition of tax on income. Rates. (a) There is hereby imposed on the Connecticut taxable income of each resident of this state a tax: (1) At the rate of four and one-half per cent of such Connecticut taxable income for taxable years commencing on or after January 1…

Sec. 12-700a. Alternative minimum tax. (a) Every resident individual, as defined in section 12-701, subject to and required to pay the federal alternative minimum tax under Section 55 of the Internal Revenue Code shall pay, in addition to the tax imposed under section 12-700, the…

Sec. 12-700b. Computation of tax for withholding from wages and other payments and for payment of estimated tax. Section 12-700b is repealed, effective October 1, 2002. (P.A. 95-160, S. 68, 69; P.A. 96-139, S. 12, 13; P.A. 97-322, S. 6, 9; P.A. 99-173, S. 8, 65; S.A. 02-12, S. 1.…

Sec. 12-700c. Use tax table in personal income tax return form. The Commissioner of Revenue Services shall revise the personal income tax return form to include in such form a statement of the rate of the use tax imposed pursuant to section 12-411, and a table listing the amount …

Sec. 12-701. Definitions. Regulations. (a) For purposes of this chapter: (1) “Resident of this state” means any natural person (A) who is domiciled in this state, unless (i) the person maintains no permanent place of abode in this state, maintains a permanent place of abode elsew…

Sec. 12-701a. Subtraction for contributions to qualified state tuition program. The maximum amount that may be subtracted under subparagraph (B)(xiii) of subdivision (20) of subsection (a) of section 12-701 shall be equal to the amount of contributions to all accounts established…

Sec. 12-702. Exemptions. (a)(1)(A) Any person, other than a trust or estate, subject to the tax under this chapter for any taxable year who files under the federal income tax for such taxable year as a married individual filing separately or, for taxable years commencing prior to…

Sec. 12-702a. Relief from joint tax liability. (a) Any individual who has made a joint return under this chapter may elect to seek relief under the provisions of subsection (b) of this section and if such individual is eligible to elect the application of subsection (c) of this s…

Sec. 12-703. Credits based on adjusted gross income. (a)(1) Any person, other than a trust or estate, subject to the tax under this chapter for any taxable year who files under the federal income tax for such taxable year as a married individual filing separately or for taxable y…

Sec. 12-704. Credits for income taxes paid to other states. (a)(1) Any resident or part-year resident of this state shall be allowed a credit against the tax otherwise due under this chapter in the amount of any income tax imposed on such resident or part-year resident for the ta…

Secs. 12-704a and 12-704b. Tax credit for personal property taxes paid on motor vehicles. Tax credit for portion of property tax paid on primary residence or motor vehicle. Sections 12-704a and 12-704b are repealed, effective July 1, 1997. (May Sp. Sess. P.A. 94-4, S. 79, 85; P.A…

Sec. 12-704c. Credits for taxes paid on primary residence or motor vehicle. Credit for conveyance tax. (a) Any resident of this state, as defined in subdivision (1) of subsection (a) of section 12-701, subject to the tax under this chapter for any taxable year shall be entitled t…

Sec. 12-704d. Credits for angel investors. (a) As used in this section: (1) “Angel investor” means an accredited investor, as defined by the Securities and Exchange Commission, or network of accredited investors who review new or proposed businesses for potential investment and w…

Sec. 12-704e. Earned income tax credit. (a) Any resident of this state, as defined in subdivision (1) of subsection (a) of section 12-701, who is subject to the tax imposed under this chapter for any taxable year shall be allowed a credit against the tax otherwise due under this …

Sec. 12-704f. Credit for certain college graduates. Section 12-704f is repealed, effective June 26, 2019. (June Sp. Sess. P.A. 17-2, S. 648; P.A. 19-117, S. 397.)

Sec. 12-704g. Modification to Connecticut adjusted gross income for certain venture capital income. (a) As used in this section: (1) “Bioscience investment ratio” means a ratio, the denominator of which is the total amount of capital raised by a qualified venture capital fund, an…

Sec. 12-704h. State child tax credit plan. Upon any (1) decrease in the amount of the federal child tax credit in effect pursuant to the American Rescue Plan Act of 2021, P.L. 117-2, as amended from time to time, on June 23, 2021, or (2) change in eligibility criteria for said cr…

Sec. 12-704i. Credit for delivery of a fetus born dead for which a fetal death certificate has been filed. A taxpayer shall be allowed a credit against the tax imposed under this chapter, other than the liability imposed by section 12-707, in the amount of two thousand five hundr…

Sec. 12-705. Withholding of taxes from wages and other payments. (a)(1) Each employer, as defined in section 12-707, maintaining an office or transacting business within this state and making payment of any wages taxable under this chapter to a resident or nonresident individual …

Sec. 12-706. Agreements with other jurisdictions. Written statement furnished to employees and payees. Treatment of taxes withheld. (a) The Commissioner of Revenue Services may enter into agreements with the tax officers of other states, which require income tax to be withheld fr…

Sec. 12-707. Payment to commissioner of taxes withheld by employers, payers or purchasers of a business. Security. (a)(1) Each employer required to deduct and withhold tax under this chapter from the wages of employees shall be liable for such tax and shall file a withholding ret…

Sec. 12-708. Determination of taxable year and method of accounting changes. (a) For purposes of the tax imposed under this chapter, a taxpayer's taxable year shall be the same as such taxpayer's taxable year for federal income tax purposes and a taxpayer's method of accounting s…

Sec. 12-709. Exemption under section 12-702 not applicable to trusts or estates. Taxes payable by fiduciary. The tax imposed under this chapter on a trust or estate shall be computed on the Connecticut taxable income of such trust or estate without allowance for any exemption und…

Sec. 12-710. Persons subject to corporation business tax not taxable under this chapter. Persons exempt from federal taxation exempt from taxation under this chapter. Any person taxable as a corporation for the purposes of chapter 208 shall not be subject to tax under this chapte…

Sec. 12-711. Determination of income, gain, loss and deduction derived from or connected with sources within this state. (a) The income of a nonresident natural person derived from or connected with sources within this state shall be the sum of the net amount of items of income, …

Sec. 12-711a. Repayment of income by taxpayer. (a)(1) If an item of income was included in the Connecticut adjusted gross income of an individual for a preceding taxable year or years because it appeared that the individual had an unrestricted right to such item, and, based on th…

Sec. 12-712. Determination of nonresident partner's, shareholder's or beneficiary's share of income within the state. (a)(1) The portion of a nonresident partner's distributive share of partnership income that is derived from or connected with sources within this state shall be d…

Sec. 12-713. Determination of income within this state of nonresident trusts and estates. (a) The income derived from or connected with sources within this state of a nonresident estate or trust shall be determined as follows: (1) There shall be determined its share of income, ga…

Sec. 12-714. Determination of share of nonresident estate or trust and nonresident beneficiary in income within this state. (a) The share of a nonresident estate or trust under subdivision (1) of subsection (a) of section 12-713, and the share of a nonresident beneficiary of any …

Sec. 12-715. Determination of income of resident partner or S corporation shareholder. (a) In determining the Connecticut adjusted gross income of a resident partner of a partnership or a resident shareholder of an S corporation, any modification described in section 12-701 which…

Sec. 12-716. Attribution of Connecticut fiduciary adjustment. (a)(1) The respective shares of an estate or trust and its beneficiaries, including, solely for the purpose of this allocation nonresident beneficiaries, in the Connecticut fiduciary adjustment shall be in proportion t…

Sec. 12-717. Determination of income within this state of a part-year resident. Change of status. (a) The income derived from or connected with sources within this state of a part-year resident individual shall be the sum of the following: (1) Connecticut adjusted gross income fo…

Sec. 12-718. Exempt dividends. If, at the close of each quarter of its taxable year, at least fifty per cent of the value of the total assets of a regulated investment company consists of obligations with respect to which taxation by this state is prohibited by federal law, the c…

Sec. 12-719. Filing of returns. Returns for partnerships, S corporations and pass-through entities. Returns for nonresident athletes of professional teams. (a) The income tax return required under this chapter shall be filed on or before the fifteenth day of the fourth month foll…

Secs. 12-720 and 12-721. Declaration of estimated tax. Filing dates for declarations of estimated tax. Sections 12-720 and 12-721 are repealed, effective July 6, 1995, and applicable to taxable years commencing on or after January 1, 1996. (June Sp. Sess. P.A. 91-3, S. 71, 72, 16…

Sec. 12-722. Underpayment and payment of estimated tax. Interest. Credit. Payment schedule for farmers and fishermen. (a) Except as otherwise provided in this section, in the case of any underpayment of estimated tax by an individual, there shall be added to the tax an amount det…

Sec. 12-722a. No accrual of interest on underpayment of tax created by public act 15-244*. Section 12-722 shall not apply with respect to the accrual of any interest, in the case of any underpayment of estimated tax by any individual, to the extent such underpayment was created b…

Sec. 12-723. Extensions. The commissioner may for reasonable cause extend the time for the filing of any return, statement or other document due or required under this chapter and the payment of tax due pursuant to this chapter in accordance with regulations adopted in accordance…

Sec. 12-724. Special rules for members of the armed forces and specified terrorist victims. (a)(1) In the case of an individual serving in the armed forces of the United States, or serving in support of such armed forces, in an area designated by the President of the United State…

Sec. 12-724a. (Formerly Sec. 12-62s). Homeownership incentive program. Income tax exemption for owners of owner-occupied homes and eligible renters within homeownership incentive tract. (a) For purposes of this section: (1) “Owner-occupied home” means a building containing three …

Sec. 12-725. Documents to be signed. Certification. (a) Any return, declaration, statement or other document required to be made pursuant to this chapter shall be signed in accordance with regulations adopted or instructions prescribed by the commissioner. The fact that an indivi…

Sec. 12-726. Information required in returns of partnerships and S corporations doing business in this state. (a) Each partnership doing business in this state or having any income derived from or connected with sources within this state, determined in accordance with the provisi…

Sec. 12-727. Informational returns from persons making payments. Notice of changes in federal tax return. Filing amended returns. (a) Returns of information shall be made and filed on or before the last day of January each year by any person making payment or crediting in the pre…

Sec. 12-728. Deficiency assessments. Notice. Penalty. (a)(1) After a final return pursuant to the provisions of this chapter is filed, the commissioner shall cause the same to be examined and may make such further audit or investigation or reaudit as the commissioner deems necess…

Sec. 12-729. Final assessment of deficiency. Protest. Notice of determination. (a) Sixty days after the date on which it is mailed, a notice of proposed assessment of a deficiency shall constitute a final assessment of the amount of tax specified together with interest, additions…

Sec. 12-729a. Jeopardy assessment. (a) If the commissioner believes that the collection of any tax imposed under this chapter, including any amount of tax required to be deducted and withheld and paid over to the commissioner, will be jeopardized by delay, the commissioner shall …

Sec. 12-730. Appeals. Notwithstanding the provisions of chapter 54 to the contrary, any taxpayer aggrieved because of any determination or disallowance by the commissioner under section 12-729, 12-729a or 12-732 may, not later than thirty days after notice of the commissioner's d…

Sec. 12-731. Understatement of tax due to mathematical error. In the event that the amount of tax is understated on the taxpayer's return due to a mathematical error, the Commissioner of Revenue Services shall notify the taxpayer that an amount of tax in excess of that shown on t…

Sec. 12-732. Refunds. (a)(1) If any tax has been overpaid, the taxpayer may file a claim for refund in writing with the commissioner within three years from the due date for which such overpayment was made, stating the specific grounds upon which the claim is founded, provided if…

Sec. 12-733. Limits on time for making of deficiency assessments. (a) Except as otherwise provided in this chapter, a notice of proposed deficiency assessment shall be mailed to the taxpayer within three years after the return is filed. No deficiency shall be assessed or collecte…