DRS: 12-726(a)-1, Informational return required from partnership

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

Conn. Agencies Regs. 12-726(a)-1.  Informational return required from partnership.

(a) A partnership as such is not subject to the income tax, but a partnership which has any income, gain, loss or deduction derived from or connected with sources within Connecticut (as determined under Part II), regardless of the amount, is required by Section 12-726(a) of the Connecticut General Statutes to file Form CT-1065/CT-1120SI. The return shall be filed on or before the fifteenth day of the fourth month following the close of the taxable year of the partnership, irrespective of the taxable years of its partners.

(b) The return shall set forth, for each taxable year of the partnership

(1) all items of income, gain, loss and deduction;

(2) the complete name and address, taxable year and social security or federal employer identification number of each partner;

(3) the amount of each partner's distributive share of income, gain, loss and deduction (A) derived from or connected with sources within Connecticut and (B) derived from or connected with sources without Connecticut;

(4) the amount of each partner's distributive share of the modifications described in Sections 12-715(a)-1 and 12-715(b)-1 of this Part that relate to partnership items of income, gain, loss or deduction (A) derived from or connected with sources within Connecticut and (B) derived from or connected with sources without Connecticut; and

(5) such other information or schedules as the Department may prescribe on its forms and instructions.

(c) On or before the date on which the return is filed, the partnership shall furnish to each person who was a partner during the taxable year to which the return pertains such information as is shown thereon concerning the amount of such partner's

(1) distributive share of income, gain, loss and deduction

(A) derived from or connected with sources within Connecticut and

(B) derived from or connected with sources without Connecticut and

(2) distributive share of the modifications described in Sections 12-715(a)-1 and 12-715(b)-1 of this Part that relate to partnership items of income, gain, loss or deduction

(A) derived from or connected with sources within Connecticut and

(B) derived from or connected with sources without Connecticut.

(Adopted eff. 11-18-94 and applicable to taxable years commencing on or after 1-1-94; revised eff. 3-8-06.)