Chapter 208. Corporation Business Tax
Section
12-213Definitions.12-214Imposition of tax. Surcharge.12-214a and 12-215Effective date of subsection (7) of section 12-214. Certain gross rentals to be tax-exempt.12-216Payment of tax by out-of-state corporations.12-216aPayment of tax by companies having economic nexus with state. Applicability to companies treated as foreign corporations by the Internal Revenue Code.12-217Deductions from gross income. Net income and operating loss carry-over of S corporations and combined groups.12-217a and 12-217bDeduction for investment in depreciable property. Tax credit for expenditures for water pollution abatement facilities.12-217c and 12-217dTax credit for expenditures for: Air pollution abatement facilities; industrial waste treatment facilities.12-217eTax credits for certain manufacturing, service and eligible facilities. No credit to be first claimed for income years commencing on or after January 1, 2018.12-217fTax credit for employers participating in certain state-approved programs combining high school study and part-time employment.12-217gTax credits for apprenticeship training in manufacturing, construction and plastics-related trades.12-217hTax credit for expenditures to establish day care facilities for children of employees.12-217iTax credits for investments in vehicles powered by clean alternative fuels or electricity, for construction of or improvements to alternative fuel filling stations and for converting motor vehicles to utilize alternative fuels. For income years commencing prior to January 1, 2008.12-217jTax credit for research and experimental expenditures.12-217kTax credit for employee training.12-217lTax credit for expenditures for grants to institutions of higher education for research and development related to technological advancements.12-217mTax credit for taxpayers occupying new facilities and creating new jobs.12-217nRolling tax credit for research and development expenses. Carryforward limit.12-217oTax credit for machinery and equipment expenditures.12-217pTax credits for taxpayer providing housing for low and moderate income employees.12-217q and 12-217rTax credit for expenditures for: Construction of or improvements to alternative fuel filling stations; converting motor vehicles to utilize alternative fuels.12-217sTax credit for expenditures related to traffic reduction programs.12-217tTax credit for personal property taxes paid on electronic data processing equipment.12-217uTax credit for financial institutions constructing new facilities and creating new jobs. For income years commencing prior to January 1, 2014.12-217vTax credit for qualifying corporations in enterprise zones.12-217w*(See end of section for amended version and effective date.) Tax credit for investment in fixed capital.12-217xTax credit for human capital investment.12-217yTax credit for employing persons who are receiving benefits from the temporary family assistance program.12-217zBusiness Tax Credit and Tax Policy Review Committee.12-217aaOrder of credits.12-217bbTax credit for electric suppliers hiring displaced workers.12-217ccTax credit for certain small businesses obtaining financing from federal Small Business Administration. For income years commencing prior to January 1, 2014.12-217ddTax credit for donation of land for open space or educational use.12-217eeRefund of unused credits under sections 12-217j and 12-217n.12-217ffTax credit for donation of land for educational use. No credit allowed on or after January 1, 2013.12-217ggTax credit for employment expansion project.12-217hhTax credit for hiring displaced worker.12-217iiJobs creation tax credit program. No eligibility certificates issued on or after January 1, 2012.12-217jjFilm production tax credit. Regulations.12-217kkTax credit for infrastructure projects in the entertainment industry. Regulations.12-217llTax credit for digital animation production companies. Regulations.12-217mmTax credit for green buildings. No initial credit voucher issued after November 30, 2017.12-217nnQualified small business job creation tax credit program. No credit allowed in income years commencing on or after January 1, 2013.12-217ooVocational rehabilitation job creation tax credit program. No credit allowed for income years commencing on or after January 1, 2012.12-217ppJob expansion tax credit program. No credit allowed for new jobs created on or after January 1, 2014.12-217qqTax credit for employers making student loan payments.12-217rrTax credits for cash contributions to youth development organizations. Sunset.12-217ssTax credits for share plan program.12-217ttTax credit for contributions into ABLE accounts of employees.12-217uu to 12-217yy12-217uu to 12-217yy12-217zzLimit on credits under this chapter.12-217aaaAccumulated research and development tax credits.12-217bbbAccumulated research and experimental expenditures tax credits and accumulated research and development tax credits. Innovation investment fund tax credit auction.12-218Apportionment of net income.12-218aApportionment of tax on insurance company.12-218bApportionment of net income of financial service companies.12-218cRestrictions on the deductibility of certain intangible expenses and interest expenses with a related member.12-218dRestriction on the deductibility of interest expenses or costs related to certain transactions with related members.12-218eCombined group's net income. Apportionment percentage. Net operating loss. Carryover. Additional tax base. Nexus combined base tax.12-218fCombined group determined on world-wide basis, affiliated group basis or water's-edge basis. Tax havens.12-218gNet deferred tax liability and assets. Deductions.12-218hValuation allowance. Deductions.12-219Capital base tax. Phase-out. Surcharge.12-219aApportionment of tax base in and out of state. Insurance companies excepted.12-219bElection with respect to apportionment of net income.12-220 to 12-221Allocation of minimum tax base. Apportionment of additional tax. Allocation in special cases.12-221aPetition for alternative method of apportionment. Regulations.12-222Annual return. Designated taxable member of combined group. Duties.12-223Returns of affiliated corporations.12-223aCombined corporation business tax return.12-223bIntercompany rents and business receipts.12-223cMinimum tax in combined return.12-223dAssessments against one or more taxpayers in combined return.12-223eReadjustment of taxes on revision of combined return.12-223fPreference tax due from corporations filing a combined return.12-224Return of fiduciary.12-225Supplemental and amended returns. Refund claim.12-226Correction of returns; additional tax; refunds.12-226aAdjustments by the commissioner. Regulations.12-227Interest on refunds.12-228Refunds to be made from General Fund.12-229Failure to pay tax or make return. Penalty. Waiver of penalty authorized.12-230Forfeiture of corporate rights for failure to make returns.12-231Penalties for wilful violation of requirements related to payment of tax or delivery of documentation.12-231aFormation of insurance company affiliate of holding company to evade tax.12-232Authority to take testimony under oath; subpoenas.12-233Examination of returns by commissioner. Deadlines for mailing deficiency assessments. Penalties for deficiencies. Payment by taxpayer.12-234Settlement with Treasurer.12-235Delinquent taxes; interest; collection.12-235aDisallowance of credits if taxes due and unpaid.12-236Hearing by commissioner.12-237Appeal.12-238Abatement of taxes.12-239Abatement of taxes on motor bus company in receivership.12-240Publication and disclosure of information.12-241Tax to be in lieu of other taxes.12-241aDefinition.12-242Regulations.12-242a to 12-242cDefinitions. When declaration of estimated tax required. Installment payment on estimated tax.12-242dInstallment payment of estimated tax. Interest on underpayments.12-242eDisposition of installments.12-242fObligations of fiduciary.12-242gOverpayments.12-242hRegulations.12-242iDeclaration as return.12-242j to 12-242z12-242j to 12-242z