Connecticut § 12-219b Election with respect to apportionment of net income.

Connecticut Statutes

§ 12-219b — Election with respect to apportionment of net income.

Connecticut·Title 12 Taxation·Ch. 208 Corporation Business Tax

(a)With respect to the taxation under this chapter in income years commencing on or after January 1, 1996, of a company's distributive share as a partner of partnership income or loss in all partnerships in which it is or may become a partner, a company may, on or before the due date, or, if applicable, the extended due date, of its corporation business tax return for its income year beginning during 1996, make an election, on its corporation business tax return for such income year, not to have the provisions of subsection (g) of section 12-218 and subsection (b) of section 12-219a apply. Except as otherwise provided by subsection (b) of this section, the election shall be irrevocable.

(b)If a company makes the election as provided in subsection (a) of this section, such company may rev

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(a) With respect to the taxation under this chapter in income years commencing on or after January 1, 1996, of a company's distributive share as a partner of partnership income or loss in all partnerships in which it is or may become a partner, a company may, on or before the due date, or, if applicable, the extended due date, of its corporation business tax return for its income year beginning during 1996, make an election, on its corporation business tax return for such income year, not to have the provisions of subsection (g) of section 12-218 and subsection (b) of section 12-219a apply. Except as otherwise provided by subsection (b) of this section, the election shall be irrevocable. (b) If a company makes the election as provided in subsection (a) of this section, such company may revoke such election, on its corporation business tax return and such revocation shall not be effective for any income year beginning before January 1, 2001. The revocation, if any, of such election shall be irrevocable.

Connecticut § 12-219b (Election with respect to apportionment of net income.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(P.A. 96-197, S. 8, 11; Dec. Sp. Sess. P.A 15-1, S. 44.) History: P.A. 96-197 effective June 3, 1996, and applicable to income years commencing on or after January 1, 1996; Dec. Sp. Sess. P.A. 15-1 amended Subsec. (a) by replacing reference to Sec. 12-218(e) with reference to Sec. 12-218(g), effective January 1, 2016.