DRS: 12-740-06, Connecticut income tax returns for short taxable periods

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. § 12-740-6. Connecticut income tax returns for short taxable periods.

(a) Resident and nonresident individuals. (1) In determining whether a resident individual who has a short taxable year due to a change in accounting period (as explained in Part XIII) is required to file a Connecticut income tax return for such short taxable period, §12-740-1(a)(1) of this Part applies, except that the reference to federal gross income and any applicable modifications under §12-701(a)(20)-2 of Part I shall be limited to federal gross income and such modifications, respectively, for the short taxable period, and the Connecticut personal exemption shall be prorated as provided in subdivision (3) of this subsection.

(2) In determining whether a nonresident individual who has a short taxable year due to a change in accounting period (as explained in Part XIII) is required to file a Connecticut income tax return for such short taxable period, §12-740-1(a)(3) of this Part applies, except that the reference to federal gross income, any applicable modifications under §12-701(a)(20)-2 of Part I, and income derived from or connected with Connecticut sources shall be limited to federal gross income, such modifications and such income, respectively, for the short taxable period, and the Connecticut personal exemption shall be prorated as provided in subdivision (3) of this subsection. However, notwithstanding the preceding sentence, a Connecticut nonresident income tax return shall be filed for a short taxable period where a nonresident individual incurs a net operating loss for Connecticut income tax purposes but does not incur such a loss for federal income tax purposes.

(3) Where a resident or nonresident individual has a short taxable period, such individual’s Connecticut personal exemption shall be prorated to the same extent that the number of months in such short taxable period bears to twelve months.

(b) Resident trusts or estates. The fiduciary of a resident trust or estate shall file a Connecticut fiduciary income tax return for a short taxable period if the trust or estate either had a federal fiduciary income tax return filed for it or had any Connecticut income for such period.

(c) Nonresident trusts or estates. The fiduciary of a nonresident trust or estate shall file a Connecticut fiduciary income tax return for a short taxable period if the trust or estate has items of income or gain derived from or connected with sources within Connecticut (as defined in §12-713(a)-1 of Part IV) for such period. However, notwithstanding the provisions of the preceding sentence, a Connecticut fiduciary income tax return shall be filed for a short taxable period where a nonresident trust or estate incurs a net operating loss for Connecticut income tax purposes but does not incur a net operating loss for federal income tax purposes.

(Effective November 18, 1994.)