Conn. Agencies Regs. § 12-204c-1 - Estimated tax payments for short years

Current through March 4, 2022

(a) Definitions. In this section:
(1) "Companies" means insurance companies, as defined in section 12-201(4) of the Connecticut General Statutes; hospital and medical service corporations, as described in section 12-212a of the Connecticut General Statutes; and health care centers, as defined in section 38a-175 of the Connecticut General Statutes;
(2) "Required annual payment" means the required annual payment, as defined in section 12-204c(d)(2) of the Connecticut General Statutes; and
(3) "Short taxable year" means a period of less than 12 months.
(b) How many instalments are required? Use the chart below to determine how many instalments a company is required to make. In determining how many instalments are required, treat a portion of a month as a full month.

For short taxable years of:

The number of estimated tax installments that shall be made is:

Which are due on or before the 15th day of the:

The percentage of the required annual payment that is due with each instalment is:

1 month or less

0

-

-

2 to 3 months

1

Last month of the short taxable year.

100% of the required annual payment.

4 to 6 months

2

3rd and last months of the short taxable year.

30% of the required annual payment for the first instalment, and

70% of the required annual payment for the second instalment.

7 to 9 months

3

3rd, 6th and last months of the short taxable year.

30% of the required annual payment for the first instalment;

30% of the required annual payment for the second instalment; and

40% of the required annual payment for the third instalment.

10 to 11 months

4

3rd, 6th, 9th and last months of the short taxable year.

30% of the required annual payment for the first instalment;

30% of the required annual payment for the second instalment;

20% of the required annual payment for the third instalment; and

20% of the required annual payment for the fourth instalment.

Notes

Conn. Agencies Regs. § 12-204c-1
Adopted effective May 3, 2001

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