Connecticut State Department of Revenue Services

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 This information is not current and is being provided for reference purposes only

TSSN-14

Corporation Business Tax Notice

This TSSN is obsoleted by AN 94(1)

 
We have enclosed a 1990 Form 208I along with your 208ESA for 1991. Form 208I was not available for distribution when we mailed the 1990 Corporation Tax forms in December.

Effective for income years beginning on or after January 1, 1991, PA 90-148 increases the percent of the second installment of Estimated Corporation Business Tax from 60% to 70% of the estimated current year tax.

If the estimated tax for the entire year exceeds $1,000, four estimated returns and tax payments are required as follows:

15th day of 3rd month 30% of the total tax for 991 or 60% of total tax for 1990 after subtracting the 1st $1,000.

 
15th day of 6th month (NEW) Together with prior payments 70% of the total tax for the year after subtracting the 1st $1,000.

 
15th day of 9th month Together with prior payments 80% of the total tax for the year after subtracting the 1st $1,000.

 
15th day of 12th month Together with prior payments 100% of the total tax for the year after subtracting the 1st $1,000.

A declaration of estimated tax is required for the current year if last years tax exceeded $1,000, even is the current year's estimated tax is $1,000 or less.

If an underpayment of estimated tax is more than 10% of the amount required to be paid, a penalty of 10% of the underpayment or $50, whichever is greater, will be imposed and interest at the rate of 1 2/3% per month will be charged.

TSSN-14
Rev. 1/91