DRS: 12-722(h)-1, Excess payments - Repealed Effective 1/1/04

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Repealed Effective 1/1/04

Conn. Agencies Regs. 12-722(h)-1.  Excess payments.

(a) Subject to the provisions of 12-722(b)-1 of this Part, any payment of estimated tax shall be applied first to any previously due and unpaid installment(s). Any amount in excess of such previously due installment(s) shall be applied to the currently due installment. Any amount in excess of such currently due installment shall be credited against any unpaid installment(s) not yet due. Any amount in excess of such unpaid installment(s) not yet due shall be credited against installments of estimated tax due on or after the filing of the declaration of estimated tax for the next succeeding taxable year, unless the taxpayer gives written notice to the Commissioner that the overpayment is to be refunded. With respect to overpayments where a group return is filed, see 12-719-1 of Part XI.

(b) While this section pertains to Section 12-722(h) 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 12-739(d) of the general statutes.

(Effective November 18, 1994.)