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Due Date Change for 2017

Your Connecticut return is due on the fifteenth day of the month following the due date of the federal return. Beginning with the 2017 return, the due date generally will be the fifteenth day of the fifth month after the end of your corporation’s year. For example, if your corporation has a December 31st year end, the return is now due on May 15th.

Exception for June 30 th year ends: If your corporation has a June 30th year end, the return is due on October 15th.

Net Deferred Tax Liability Deduction

As part of the mandatory combined unitary reporting legislation enacted in 2015, certain taxpayers were entitled to claim a deduction ("Net DTL Deduction") to offset the balance sheet impact certain provisions of such legislation had on their deferred tax assets and liabilities.  In order to be allowed the Net DTL Deduction, taxpayers were required to report their deduction on Form CT-DTLD, Statement of Net Deferred Tax Liability Deduction, and file such Form with the Department to of Revenue Services by July 3, 2017.

Under prior tax law, taxpayers that timely filed Form DTLD could claim one-seventh of their DTL Deduction annually for a seven year period starting with their 2018 income year.  Under the amended law , these taxpayers instead may claim one-thirtieth of such deduction annually for a thirty year period starting with their 2021 income year.

Taxpayers that did not file Form CT-DTLD by July 3, 2017, remain ineligible to claim the Net DTL Deduction.