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The minimum tax is $250. Form CT-1120 must be filed by every corporation or association taxable as a corporation that carries on business or has the right to carry on business in Connecticut.
The corporation business tax is a tax on the privilege of carrying on a business in a corporate capacity in Connecticut. It imposes a 7% tax on the Connecticut net income of corporations subject to the tax (unless the amount of tax due under the alternative capital base method is higher).
Youll find your corporation classification on your business returns. You can review previously filed tax returns or ask your accountant to review the returns. All corporations must file an annual income tax return. C corporations file IRS Form 1120 and S corporations file Form 1120S.
IMPORTANT INFORMATION - the following tax types are now available in myconneCT: Individual Income Tax, Attorney Occupational Tax, Unified Gift and Estate Tax, Controlling Interest Transfer Tax, and Alcoholic Beverage Tax. - Click here for the latest information. Note: The Business Entity Tax (BET) no longer exists.
5 Steps to Form a Corporation Choose a business name. Decide what type of corporation youre forming. Choose a registered agent. Draft and file your articles of incorporation. Appoint a board of directors.
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How much is my registration fee? The registration fee is $100 one time permit fee.
How to Form a Corporation in 11 Steps Choose a Business Name. An important first step when starting a corporation is selecting a business name. Register a DBA. Appoint Directors. File Your Articles of Incorporation. Write Your Corporate Bylaws. Draft a Shareholder Agreement. Hold Initial Board of Directors Meeting. Issue Stock.
Start a Connecticut S Corp Choose a Name. Choose a Registered Agent. Choose directors or managers. File Certificate of Incorporation/Certificate of Organization with the Business Services Division of the Connecticut Secretary of State. File Form 2553 to turn business into an S Corporation.
Connecticut corporate income tax is levied at a flat rate of 7.5 percent.
What is corporation tax? Corporation tax is the main tax that a limited company must pay. Corporation tax must be paid both on the companys profits and on any gains from selling assets (e.g. land, property or shares) that have increased in value.

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