Connecticut Corporation Business Tax Return Approtionment Computation - Securities Brokerage Services

Corporation Business Tax Return Approtionment Computation - Securities Brokerage Services
CT-1120A-SBC, 2016 Corporation Business Tax Return Apportionment Computation - Securities Brokerage ServicesDepartment of Revenue Services
State of Connecticut
(Rev. 12/16)

Form CT-1120A-SBC

Corporation Business Tax Return
Apportionment Computation - Securities Brokerage Services

Enter Income Year Beginning ________________________ , ___________ , and Ending ________________________ , ___________
Corporation Name

Connecticut Tax Registration Number

Complete this form in blue or black ink only.

See instructions on reverse.

Schedule R-SBC – Net Income Apportionment
1. Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
taxpayer’s customers who are domiciled in Connecticut

2. Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
taxpayer’s customers wherever domiciled

3. Apportionment fraction for securities brokerage services company: Divide Line 1 by Line 2. Carry
to six places.

Schedule A-1 – Computation of Connecticut Net Income
Column A

Column B

Column C

Net income derived from
Net income derived from
Net income derived from
securities brokerage services financial services other than sources other than securities
securities brokerage services
brokerage services or
financial services

4. Net income from Form CT-1120,
Schedule A, Line 1.
Form CT-1120CU filers only: Enter in
Column A the net income from securities
brokerage services. Do not complete
Column B and Column C.

5. Securities brokerage service company
apportionment fraction from
Schedule R-SBC, Line 3. Carry to six places. 5.
6. Financial service company apportionment
fraction from Form CT-1120A-FS, Line 15.
Carry to six places.

7. Securities brokerage service company
apportionment fraction from the applicable
apportionment form. Carry to six places.

8. Balances after apportionment: Multiply
Line 4, Column A, by Line 5, Column A.
Multiply Line 4, Column B, by Line 6,
Column B. Multiply Line 4, Column C, by
Line 7, Column C.
Form CT-1120CU filers only: Enter the
amount in Column A in the appropriate
column on Form CT-1120CU-NI, Tax
on Combined Group Net Income, Part III,
Line 6.
9. Securities brokerage service company
Connecticut net income: Add Line 8,
Columns A through C. Enter the total
here and on Form CT-1120, Schedule A,
Line 3. Make no entries on Form CT-1120,
Schedule A, Line 1 and Line 2.

Form CT-1120A-SBC
Instructions
Complete this form in blue or black ink only.

Definitions

Use Form CT-1120A-SBC to apportion net income
from securities brokerage services. A corporation
must apportion income from securities brokerage
services separately using Form CT-1120A-SBC. If the
corporation qualifies as a financial service company,
all other income will be apportioned using Form
CT-1120A-FS, Corporation Business Tax Return
Apportionment Computation of Income From Financial
Service Company Activities. If the company does not
qualify as a financial service company, all other income
must be apportioned in accordance with the appropriate
schedule.

Securities brokerage services means services and
activities including all aspects of purchasing and selling
of securities rendered by a broker or dealer as defined in
15 USC §78c(a)(4), and registered under the provisions
of 15 USC §§78a-78kk, inclusive. Securities brokerage
services do not include services rendered by a bank
or any other person buying and selling securities for a
person’s own account either individually or in a fiduciary
capacity.

Schedule R-SBC – Net Income Apportionment
Complete Schedule R-SBC and enter the resulting
apportionment fraction from Line 3 on Form CT-1120,
Corporation Business Tax Return, Schedule A, Line 2,
only if the corporation’s entire net income is derived
from securities brokerage services. If the corporation’s
net income is derived in part from sources other than
securities brokerage services, complete Schedule
R-SBC and Schedule A-1.
Corporations that provide securities brokerage services
that file as part of Form CT-1120CU, Combined
Corporation Business Tax Return, may apportion their
income if any member of the combined group carries on
or does business outside of Connecticut or is a financial
service company.

Schedule A-1 – Computation of Connecticut
Net Income
Complete Schedule A-1 if the taxable net income for a
securities brokerage services company is derived in part
from sources other than securities brokerage services.
Form CT-1120CU filers: Combined group members
that are subject to securities brokerage services
apportionment should complete Schedule A-1,
Column A. Do not complete Column B and
Column C. Enter the amount on Line 5 in Column A
in the appropriate column on Form CT-1120CU-NI,
Tax on Combined Group Net Income, Part III, Line 6.
Receipts derived from financial services, other than
securities brokerage services, should be included in
the combined group’s apportionment calculation on
Form CT-1120A-CU, Apportionment Computation
for Combined Unitary Filers.

Form CT-1120A-SBC Back (Rev. 12/16)

Securities means security as defined in
15 USC §78c(a)(10).
Brokerage commissions include but are not limited
to all sales fees on agency or principal transactions,
whether charged explicitly or implicitly.
Domicile of a customer shall be presumed to be the
customer’s mailing address on the records of the
corporation.

Extracted from PDF file 2023-connecticut-form-ct-1120-a-sbc.pdf, last modified January 2017

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More about the Connecticut Form CT-1120 A-SBC Corporate Income Tax TY 2023

We last updated the Corporation Business Tax Return Approtionment Computation - Securities Brokerage Services in February 2024, so this is the latest version of Form CT-1120 A-SBC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-1120 A-SBC directly from TaxFormFinder. You can print other Connecticut tax forms here.

Related Connecticut Corporate Income Tax Forms:

TaxFormFinder has an additional 85 Connecticut income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Connecticut Form CT-1120 A-SBC.

Form Code	Form Name
Form CT-1120 A-LP	Corporation Business Tax Return Apportionment of Limited Partnership Interests
Form CT-1120 Instructions	Connecticut Corporation Business Tax Instructions Tax Return
Form CT-1120 EXT	Application for Extension of Time to File Connecticut Corporation Tax Return Extension
Form CT-1120X	Amended Corporation Business Tax Return
Form CT-1120	Corporation Business Tax Return Tax Return
Form CT-1120 MEC	Machinery and Equipment Expenditure Credit Tax Credit
Form CT-1120 CC	Authorization and Consent to be Included in a Combined Return
Form CT-1120 EDPC	Electronic Data Processing Equipment Property Tax Credit Tax Credit
Form CT-1120 ES	Estimated Corporation Business Tax Payment Coupons Estimated
Form CT-1120 FCIC	Fixed Capital Investment Credit Tax Credit

Download all CT tax forms View all 86 Connecticut Income Tax Forms

Form Sources:

Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-1120 A-SBC from the Department of Revenue Services in February 2024.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Connecticut Form CT-1120 A-SBC

We have a total of twelve past-year versions of Form CT-1120 A-SBC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form CT-1120 A-SBC