DRS: AN 96(5), Estimated Corporation Business Tax Payments By Electronic Funds Transfer

 

STATE OF CONNECTICUT
DEPARTMENT OF REVENUE SERVICES

450 Columbus Blvd
Hartford CT 06103
 
 
 
 
 
 

 
 

AN 96(5)

Estimated Corporation Business Tax Payments By Electronic Funds Transfer


PURPOSE: This announcement alerts Estimated Corporation Business Tax filers of new requirements when using the Electronic Funds Transfers (EFT) payment method.


EFT ELIMINATES USE OF COUPONS: When using EFT to make payments, you are no longer required to mail in a Form CT-1120ESA, ESB, ESC or ESD coupon each quarter. To ensure proper application of your payment, use the EFT tax type code listed below when making payments:                       

ESTIMATED PAYMENT EFT Tax Type Code Replaces Coupon
  first 
 02101
 CT-1120ESA  
 second
 02102
 CT-1120ESB  
third
02103
CT-1120ESC  
fourth
02104
CT-1120ESD  


WHO CAN USE EFT?: Only taxpayers making Corporation Business Tax estimated payments can use EFT. All other payments made with extensions or completed returns MUST be paid by check.


TIMELY FILING OF EFT TAX PAYMENTS: EFT tax payments must be credited to the State of Connecticut's bank account on or before the due date to be considered timely. Due dates for corporations using the calendar year for accounting purposes are: March 15, June 15, September 15 and December 15. Corporations using the fiscal year must make payments on or before the 15th day of the third, sixth, ninth and twelfth months of their accounting year.

Taxpayers using the Automated Clearing House (ACH) Debit method must initiate their transactions no later than 4:30 p.m. Eastern Time on the last banking day prior to the due date. Taxpayers using the ACH Credit method should consult with their financial institution.


EFFECT OF THIS DOCUMENT: An Announcement is a document that alerts taxpayers to important information. Such information may involve new administrative policies or procedures of the Department.


RELATED FORMS AND PUBLICATIONS:

IP 93(2.1), Q & A on Paying Taxes By Electronic Funds Transfer

SN 96(5), 1996 Legislative Changes Affecting Payment of Connecticut Taxes By Electronic Funds Transfer


EFFECT ON OTHER DOCUMENTS: None.


PLEASE NOTE THE FOLLOWING NEW INFORMATION ABOUT DRS.

FOR FURTHER INFORMATION: To order forms and publications or for further information, call the Department of Revenue Services at 860-297-5962 (Hartford area or out-of-state) or 1-800-382-9463 (in-state). Forms and publications may be ordered through voice-mail 24-hours a day by choosing Option 3 on your touch tone telephone.

Electronic Delivery Options: You can also obtain tax forms and publications 24-hours a day from our Web home page at http://www.ct.gov/drs.

Telecommunications Device for the Deaf (TDD/TT) users only call 860-297-4911 during business hours.


AN 96(5)
Corporation Business Tax
Issued: 9/5/96