DRS: Ruling 89-217, Corporation Business Tax

 

STATE OF CONNECTICUT
DEPARTMENT OF REVENUE SERVICES

450 Columbus Blvd
Hartford CT 06103
 
 
 
 
 
 

 
 

Ruling 89-217

Corporation Business Tax


Please be advised that capital losses pursuant to section 12-217(a) of the Connecticut General Statutes may only be used to offset net capital gains. In the examples that you have cited, there would exist a combined taxable income of $200 (Y Corporation having taxable income of $100).

LEGAL DIVISION

November 15, 1989