DRS: 12-704(b)-1, Amended Connecticut income tax return to report any change in the amount of income tax paid to qualifying jurisdiction - Amended Effective 6/29/01

DRS has reproduced this regulation. This is an unofficial copy. Official copies of regulations ONLY are available from the Commission on Official Legal Publications, 111 Phoenix Avenue, Enfield, CT 06082,  colp@jud.state.ct.us. Copies of DRS forms and publications are available at http://www.ct.gov/drs.

Effective June 29, 2001  Old Version

Conn. Agencies Regs. § 12-704(b)-1.  Amended Connecticut income tax return to report any change in the amount of income tax paid to qualifying jurisdiction.  

   (a) If a taxpayer has claimed a credit under this part for a taxable year for income tax paid to a qualifying jurisdiction, and a change or correction is made to the income tax return of the qualifying jurisdiction by the tax officers or other competent authorities of such jurisdiction for such taxable year in such a manner that the amount of income tax that the taxpayer is finally required to pay to that jurisdiction is different from the amount used to determine the credit under this part, the taxpayer, on or before the date that is 90 days after the final determination of such amount, shall file an amended Connecticut income tax return for the taxable year affected, irrespective of any otherwise applicable statute of limitations, but only if the change or correction of the income tax return of the qualifying jurisdiction increases or decreases the taxpayer’s Connecticut tax liability (by decreasing or increasing the amount of the credit under this part). If such a change or correction so increases the taxpayer’s Connecticut tax liability, such taxpayer shall be required to pay the additional tax, plus interest, to the department for the taxable year affected, irrespective of any otherwise applicable statute of limitations. If such a change or correction so decreases the taxpayer’s Connecticut tax liability, § 12-732(b)-1(b)(1) of Part XII shall also apply. If the taxpayer has not filed the required return within three months after such final determination, the provisions of § 12-735(b)-1 of Part XII shall also apply.

    (b) If a taxpayer who has claimed a credit under this part for a taxable year for income tax paid to a qualifying jurisdiction subsequently files a timely amended income tax return for such taxable year with such jurisdiction in such a manner that the amount of income tax that the taxpayer is required to pay to that jurisdiction is different from the amount used to determine the credit under this part, the taxpayer, on or before the date that is 90 days after the date of filing of such amended return, shall file an amended Connecticut income tax return for the taxable year affected, irrespective of any otherwise applicable statute of limitations, but only if the amendment of the income tax return of the qualifying jurisdiction increases or decreases the taxpayer’s Connecticut tax liability (by decreasing or increasing the amount of the credit under this part). If such an amendment so increases the taxpayer’s Connecticut tax liability, such taxpayer shall be required to pay the additional tax, plus interest, to the department for the taxable year affected, irrespective of any otherwise applicable statute of limitations. If such an amendment so decreases the taxpayer’s Connecticut tax liability, § 12-732(b)-1(b)(2) of Part XII shall also apply. If the taxpayer has not filed the required return within three months after the date of filing of such amended return, the provisions of § 12-735(b)-1 of Part XII shall also apply.

    (c) While this section pertains to Section 12-704(b) of the Connecticut General Statutes, for purposes of supplementary interpretation, as the phrase is used in Section 12-2 of the Connecticut General Statutes, the adoption of this section is authorized by Section 12-740(a) of the Connecticut General Statutes.

Effective June 29, 2001.