Title 12, Title 12: Taxation

Sec. 12-223c. Minimum tax in combined return. Each corporation included in a combined return under section 12-223a shall pay the minimum tax of two hundred fifty dollars prescribed under section 12-219. No tax credit allowed against the tax imposed by this chapter shall reduce an…

Sec. 12-223d. Assessments against one or more taxpayers in combined return. In case a combined return is made as provided by section 12-223a, the Commissioner of Revenue Services may assess the entire tax computed on the basis of such return against any one or more of the taxpaye…

Sec. 12-223e. Readjustment of taxes on revision of combined return. If revision shall be made of a combined return under section 12-223a for the purpose of the tax of two or more corporations, or of an assessment based upon such a return, the Commissioner of Revenue Services shal…

Sec. 12-223f. Preference tax due from corporations filing a combined return. (a) Notwithstanding the provisions of sections 12-223a to 12-223e, inclusive, the tax due in relation to any corporations which have filed a combined return for any income year with other corporations fo…

Sec. 12-224. Return of fiduciary. Any fiduciary who conducts or is liquidating the business or is selling the assets of any company shall be subject to the filing of returns in accord with, and to the payment of taxes imposed by, this part in the same manner and to the same exten…

Sec. 12-225. Supplemental and amended returns. Refund claim. (a) Any company which, either intentionally or through error, fails to include in its return items of income or invested capital or which claims unlawful deductions therefrom shall make a supplemental return disclosing …

Sec. 12-226. Correction of returns; additional tax; refunds. (a)(1) Any company whose income, profits or earnings are changed, adjusted or corrected for any income year by any official of the United States government, or any agency thereof, in any respect affecting the tax impose…

Sec. 12-226a. Adjustments by the commissioner. Regulations. If it appears to the Commissioner of Revenue Services that any agreement, understanding or arrangement exists between the taxpayer and any other corporation or any person or firm, whereby the activity, business, income o…

Sec. 12-227. Interest on refunds. (a) To any refunds granted as a result of overpayment of any tax imposed under this chapter or chapter 209, there shall, except as otherwise provided in subsection (b) or (c) of this section, be added interest at the rate of two-thirds of one per…

Sec. 12-228. Refunds to be made from General Fund. Section 12-228 is repealed. (1949 Rev., S. 1908; 1959, P.A. 291, S. 1; P.A. 85-356, S. 8, 9.)

Sec. 12-229. Failure to pay tax or make return. Penalty. Waiver of penalty authorized. (a) If any company fails to pay the amount of tax reported to be due on its return within the time specified under the provisions of this part, there shall be imposed a penalty equal to ten per…

Sec. 12-230. Forfeiture of corporate rights for failure to make returns. Any corporation required to file a return with the commissioner by the provisions of this part which neglects to file the same for two consecutive fiscal years shall be construed to have forfeited its corpor…

Sec. 12-231. Penalties for wilful violation of requirements related to payment of tax or delivery of documentation. (a) Any person required under this part to pay any tax, or required under this part or by regulations adopted in accordance with the provisions of section 12-242 to…

Sec. 12-231a. Formation of insurance company affiliate of holding company to evade tax. If the commissioner finds in respect of an income year that an insurance company, other than a domestic insurance company, which is an affiliate of an insurance holding company system that inc…

Sec. 12-232. Authority to take testimony under oath; subpoenas. The commissioner and any agent of the commissioner authorized to conduct any inquiry, investigation or hearing hereunder may administer oaths and take testimony under oath relative to the matter of inquiry or investi…

Sec. 12-233. Examination of returns by commissioner. Deadlines for mailing deficiency assessments. Penalties for deficiencies. Payment by taxpayer. (a)(1) The commissioner shall examine the tax return filed under this chapter by a taxpayer and may make such further audit or inves…

Sec. 12-234. Settlement with Treasurer. All funds received by the Commissioner of Revenue Services under the provisions of this part shall be recorded with the Comptroller and shall be deposited daily with the State Treasurer. The commissioner shall issue his receipt to any taxpa…

Sec. 12-235. Delinquent taxes; interest; collection. To any taxes which are assessed under section 12-233, there shall be added interest at the rate of one per cent per month or fraction thereof from the date when the original tax became due and payable. The amount of any tax, pe…

Sec. 12-235a. Disallowance of credits if taxes due and unpaid. The Commissioner of Revenue Services may disallow any credit otherwise allowable for a taxable year against the tax imposed under this chapter if the company claiming the credit has any amount of taxes due and unpaid …

Sec. 12-236. Hearing by commissioner. Any taxpayer, aggrieved by the action of the commissioner or his authorized agent in fixing the amount of any tax, penalty or interest provided for by this part, may apply to the commissioner, in writing, within sixty days after the notice of…

Sec. 12-237. Appeal. Any taxpayer aggrieved because of any order, decision, determination or disallowance of the Commissioner of Revenue Services under the provisions of this part may, not later than thirty days after service upon the taxpayer of notice of such order, decision, d…

Sec. 12-238. Abatement of taxes. Section 12-238 is repealed, effective April 13, 1995. (1949 Rev., S. 1918; September, 1957, P.A. 13, S. 1; P.A. 77-614, S. 141, 610; P.A. 95-4, S. 7, 8.)

Sec. 12-239. Abatement of taxes on motor bus company in receivership. The Commissioner of Revenue Services, upon the advice of the Attorney General, may abate, in whole or in part, as the interest of the state requires, the taxes and interest thereon due the state from any motor …

Sec. 12-240. Publication and disclosure of information. The Commissioner of Revenue Services shall publish in his annual report data showing the amount of taxes upon net income, the amount of minimum taxes and the amount of penalties assessed under the provisions of this part, wi…

Sec. 12-241. Tax to be in lieu of other taxes. The taxes imposed by this part, and in the case of domestic insurance companies by chapter 207, shall be in lieu of all other taxes upon the intangible assets of any company, or upon the intangible assets of an employee's stock bonus…

Sec. 12-241a. Definition. As used in section 12-241, “Connecticut motor bus company” means any common carrier motor bus company, organized in this state and engaged in the business of carrying passengers for hire, to which a certificate has been issued under the provisions of sec…

Sec. 12-242. Regulations. The Commissioner of Revenue Services may prescribe regulations and make rulings, not inconsistent with law, to carry into effect the provisions of this part, which regulations or rulings, when reasonably designed to carry out the intent and purpose of th…

Secs. 12-242a to 12-242c. Definitions. When declaration of estimated tax required. Installment payment on estimated tax. Sections 12-242a to 12-242c, inclusive, are repealed, effective July 1, 1995, and applicable to estimated corporation business taxes for income years commencin…

Sec. 12-242aa. Definitions. Modifications of federal unrelated business taxable income. (a) As used in this chapter: (1) “Taxpayer” means any organization which is exempt from taxation in accordance with any of the provisions of Section 501 of the Internal Revenue Code and which,…

Sec. 12-242bb. Imposition of tax on unrelated business income of nonprofit corporations. Apportionment. “Tangible personal property” defined. (a) Each taxpayer, as defined in section 12-242aa, shall pay, annually, a tax for the privilege of carrying on any unrelated trade or busi…

Sec. 12-242d. Installment payment of estimated tax. Interest on underpayments. (a) For purposes of this section, there shall be four required installments for each income year. The due date for the first required installment is the fifteenth day of the third month of the income y…

Sec. 12-242e. Disposition of installments. The amount of every installment of estimated tax, or payment on account thereof, shall be paid to the commissioner in cash or by check, draft or money order drawn to the order of the Commissioner of Revenue Services of the state of Conne…

Sec. 12-242ee. Legislative findings. It is found and declared that the exemption from the corporation business tax of interest on certain Connecticut state and local obligations may preclude the state from including interest on obligations of the United States in gross income for…

Sec. 12-242f. Obligations of fiduciary. Any fiduciary who conducts or is liquidating the business or is selling the assets of any company shall be subject to the payment of taxes imposed by this part in the same manner and to the same extent as if the business were being conducte…

Sec. 12-242ff. Definitions. (a) As used in sections 12-242ee to 12-242yy, inclusive: (1) “Affected state obligation” means a state obligation from or with respect to which certain rights are taken pursuant to section 12-242gg; (2) “Secretary” means the Secretary of the Office of …

Sec. 12-242g. Overpayments. (a) If a company has paid as an installment of estimated tax an amount in excess of the amount determined to be the correct amount of such installment, such amount shall be credited against any unpaid installment or against the tax. If the amount alrea…

Sec. 12-242gg. Eminent domain; taking of right to claim income exclusion; notice of aggregate condemnation. Waiver of right to claim taking. (a) On March 8, 1995, the state of Connecticut, through the secretary, takes from all persons who were owners of a state obligation at any …

Sec. 12-242h. Regulations. The Commissioner of Revenue Services may prescribe regulations and make rulings, not inconsistent with law, to carry into effect the provisions of this part, which regulations or rulings, when reasonably designed to carry out the intent and purpose of t…

Sec. 12-242hh. Notice of taking. Claim for compensation form. (a) The secretary shall provide reasonable notice of the takings pursuant to section 12-242gg to all owners of affected state obligations. Such notice may include but is not limited to the mailing of such notice to the…

Sec. 12-242i. Declaration as return. For all purposes of section 12-240, a declaration shall be deemed to constitute a return. (1963, P.A. 651, S. 14.)

Sec. 12-242ii. Notice of individual condemnation. Statement of acceptance. Deposit of funds. Rejection of compensation form. (a) After receipt of a completed claim for compensation form and any additional information from the owner or his representative which is deemed to be suff…

Sec. 12-242jj. Statement of acceptance; rejection of statement of acceptance. (a) At any time within one hundred eighty days after receipt of the notice of individual condemnation and assessment of special damages and special benefits, the owner may agree that the amount of compe…

Sec. 12-242kk. Condemnation appeals; class action; withdrawal of notice. (a) At any time within one hundred eighty days after receipt of the notice of individual condemnation and assessment of special damages and special benefits by the owner, such owner, claiming to be aggrieved…

Sec. 12-242ll. Settlement of claim. The secretary may, with the advice and consent of the Attorney General, settle and compromise any claim arising out of or relating to section 4-186, 10a-236, 12-39l, 12-213, 12-225, 12-233 or 12-242ee to 12-242yy, inclusive, with any owner by t…

Sec. 12-242mm. Withdrawal of assessment deposit. An owner who is named in a notice of individual condemnation and assessment of special damages and special benefits may apply to the court for the withdrawal of any portion of the sum deposited by the secretary pursuant to section …

Sec. 12-242nn. Failure to return acceptance or file appeal. If an owner receives a notice of individual condemnation and assessment of special damages and special benefits and fails to: (1) Return a statement of acceptance or (2) file a condemnation appeal pursuant to section 12-…