Conn. Agencies Regs. § 12-717(c)(2)-1 - Special accruals: change from nonresident to resident
(a) Where the resident status of an
individual changes from nonresident to resident, such individual shall,
regardless of the method of accounting normally employed, accrue to the portion
of the year prior to such change any items of income, gain, loss or deduction
accruing prior to the change of resident status, other than those items of
income, gain, loss or deduction which are derived from or connected with
Connecticut sources, if not otherwise properly includible (whether or not the
installment method is used) or allowable for federal income tax purposes for
such portion of the taxable year or for a prior taxable year. For example, a
dividend with a record date prior to the change of residence shall be accrued
to the period prior to the change of residence, even though it is not actually
paid until after the change of residence has occurred. The amounts of accrued
items of an individual are determined, with the applicable modifications
required by §§
12-701(a)(20)-2
and
12-701(a)(20)-3
of Part I, as if such accrued items were includible or allowable for federal
income tax purposes.
(b) The
provisions of this section also apply to part-year resident trusts, and
wherever reference is made in this section to a part-year resident individual,
such reference shall be construed to include a part-year resident trust, and
any reference to modifications required to an individual's Connecticut adjusted
gross income by §§
12-701(a)(20)-2
and
12-701(a)(20)-3
of Part I shall be construed to mean modifications required to a trust's
Connecticut taxable income by §§
12-701(a)(10)-2
and
12-701(a)(10)-3
of Part IV.
(c) While this section
pertains to Section
12-717(c)(2)
of the general statutes, for purposes of supplementary interpretation, as the
phrase is used in Section
12-2
of the general statutes, the adoption of this section is authorized by Section
12-701(c)
of the general statutes.
Notes
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