The CT-1120 form is used for the Connecticut Corporation Business Tax Return, and it’s essential to follow the instructions carefully to ensure accurate filing and avoid any potential penalties. In this article, we’ll provide a detailed overview of the CT-1120 instructions for 2022.

The CT-1120 form is used by corporations to report their business income and pay taxes to the State of Connecticut. The form must be filed and paid electronically, and all corporations must file and pay their estimated taxes (Forms CT-1120 ESA, ESB, ESC, and ESD) and extension requests (Form CT-1120 EXT) electronically.

Order of Completing Schedules

To complete the CT-1120 form, you need to follow a specific order of completing the schedules. The schedules that need to be completed are:

• Form CT-1065/CT-1120SI
• Form CT-1120 ATT (must be attached to Form CT-1120 whenever Schedule H, Schedule I, or Schedule J are used in the calculation of the Connecticut Corporation Business tax)
• Form CT-1120CU (Combined Unitary Corporation Business Tax Return)

Manufacturing Facility Tax Credit

The CT-1120 form also includes a section for the Manufacturing Facility Tax Credit for facilities located in a Targeted Investment Community/Enterprise Zone. To claim this credit, you need to complete Schedule B ⎻ Employment Criteria for 50 Tax Credit.

Student Loan Payment Tax Credits

Corporations can also claim Student Loan Payment Tax Credits by completing Form CT-RSLP, Application for Refund of Student Loan Payment Tax Credits by a Qualified Small Business. This form must be filed separately from Form CT-1120, and you need to attach Form CT-SLP, Student Loan Payment Tax Credit, and all required supporting schedules and documentation.

Electronic Filing Requirements

As mentioned earlier, all corporations must file and pay their taxes electronically. This includes filing Form CT-1120, Form CT-1120CU, and all estimated tax payments and extension requests. You can find more information on electronic filing requirements in Informational Publication 2022(6), Filing and Paying Connecticut Taxes Electronically.