Conn. Agencies Regs. § 12-204c-1 - Estimated Tax Payments for Short Years
(a) Definitions. In this section:
(1) "Companies" means insurance companies, as defined in section 12-201(4) of the Connecticut General Statutes; hospital and medical service corporations, as described in section 12-212a of the Connecticut General Statutes; and health care centers, as defined in section 38a-175 of the Connecticut General Statutes;
(2) "Required annual payment" means the required annual payment, as defined in section 12-204c(d)(2) of the Connecticut General Statutes; and
(3) "Short taxable year" means a period of less than 12 months.
(b) How many instalments are required? Use the chart below to determine how many instalments a company is required to make. In determining how many instalments are required, treat a portion of a month as a full month.
| For short taxable years of: | The number of estimated tax installments that shall be made is: | Which are due on or before the 15th day of the: | The percentage of the required annual payment that is due with each instalment is: |
|---|---|---|---|
| 1 month or less | 0 | — | — |
| 2 to 3 months | 1 | Last month of the short taxable year. | 100% of the required annual payment. |
| 4 to 6 months | 2 | 3rd and last months of the short taxable year. | 30% of the required annual payment for the first instalment, and 70% of the required annual payment for the second instalment. |
| 7 to 9 months | 3 | 3rd, 6th and last months of the short taxable year. | 30% of the required annual payment for the first instalment; 30% of the required annual payment for the second instalment; and 40% of the required annual payment for the third instalment. |
| 10 to 11 months | 4 | 3rd, 6th, 9th and last months of the short taxable year. | 30% of the required annual payment for the first instalment; 30% of the required annual payment for the second instalment; 20% of the required annual payment for the third instalment; and 20% of the required annual payment for the fourth instalment. |
(Adopted effective May 3, 2001)