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Connecticut Tax on Combined Group Minimum Tax Base
Extracted from PDF file 2023-connecticut-form-ct-1120cu-mtb.pdf, last modified December 2023Tax on Combined Group Minimum Tax Base
2023 Form CT-1120CU-MTB Form CT-1120CU-MTB (Rev. 12/23) Page 1 of 2 CUMTB 1223W 01 9999 Tax on Combined Group Minimum Tax Base Connecticut Designated Taxable Member’s Connecticut Tax Registration Number Column A Part A - Computation of combined group minimum tax base Beginning of Year: Member #: Corporation name: Combined Group Total Adjustments Eliminations 1. Capital stock (federal Schedule L, Lines 22a and 22b), surplus and undivided profits (Schedule L, Lines 23, 24, and 25) and surplus reserves (attach schedule). ... 1. .00 .00 .00 .00 2. Holdings of stock of private corporations. Attach schedule. ............. 2. .00 .00 .00 .00 3. Subtract Line 2 from Line 1. .................. 3. .00 .00 .00 .00 4. Capital stock (federal Schedule L, Lines 22a and 22b), surplus and undivided profits (Schedule L, Lines 23, 24, and 25) and surplus reserves (attach schedule). ... 4. .00 .00 .00 .00 5. Holdings of stock of private corporations. Attach schedule. ............. 5. .00 .00 .00 .00 6. Subtract Line 5 from Line 4. .................. 6. .00 .00 .00 .00 7. Average: Add the amounts on Line 3 and Line 6 in Combined Group Total column and divide by two. ...................... 7. .00 End of Year: Part B - Computation of tax on combined group minimum tax base 8. Apportionment fraction from Form CT‑1120A‑CU, Schedule S, or appropriate apportionment form. Nontaxable members enter zero (“0”). ... 8. . 9. Multiply the apportionment fraction in each column on Line 8 by the amount on Line 7, Combined Group Total column. ................................................ 9. 10. Tax: Multiply each column on Line 9 by .0031 (3 and 1/10 mills per dollar) or enter minimum tax of $250 for each taxable member, whichever is greater. 10. 11. Add the amounts in each column on Line 10 and enter the total. ................. 11. .00 .00 .00 12. If Line 11 exceeds $1,000,000, prorate each member’s tax on Line 10 so the total equals $1,000,000. See instructions. Otherwise, leave Line 12 and Line 13 blank. Do not prorate the minimum tax of $250. ............................ 12. 13. Add the amounts in each column on Line 12 and enter the total. ................. 13. 14. Tax: Enter the lesser of $1,000,000 or the amount on Line 11. Enter also on Form CT‑1120CU, Part I, Line 2. ....... 14. .00 .00 .00 Visit us at portal.ct.gov/DRS for more information. Form CT-1120CU-MTB (Rev. 12/23) Page 2 of 2 CUMTB 1223W 02 9999 Column B Connecticut Designated Taxable Member’s Connecticut Tax Registration Number Column C Member #: (A. = Enter corporation name) Column D Member #: Member #: Column E Column F Member #: Member #: A. 1. .00 .00 .00 .00 .00 2. .00 .00 .00 .00 .00 3. .00 .00 .00 .00 .00 4. .00 .00 .00 .00 .00 5. .00 .00 .00 .00 .00 6. .00 .00 .00 .00 .00 7. 8. . . . . . 9. .00 .00 .00 .00 .00 10. .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 11. 12. Visit us at portal.ct.gov/DRS for more information. Form CT-1120CU-MTB Instructions Purpose Use Form CT-1120CU-MTB to calculate the tax due on a combined group’s minimum tax base. Complete and attach Form CT-1120CU-MTB to Form CT-1120CU. Combined groups are subject to tax on the greater of their net income base or their minimum tax base (sometimes referred to as the capital base). See Special Notice 2016(1), Combined Unitary Legislation. How to Calculate the Combined Group’s Minimum Tax Base Each member of the combined group reports its average beginning and ending separate minimum tax bases on Part A, Lines 1 through 6. These separate bases are then aggregated to arrive at the average combined group minimum tax base. Each taxable member calculates its separate apportionment fraction on Form CT-1120A-CU, Apportionment Computation for Combined Unitary Filers, Schedule S and multiplies that fraction by the average combined group minimum tax base. Each taxable member’s apportioned minimum tax base is then multiplied by the tax rate of .0031 mills per dollar (.0031) to arrive at each member’s minimum tax on capital. A taxable member’s minimum tax on capital shall not be less than $250 (except for REITs and RICs as explained below). The aggregate minimum tax on capital of the combined group shall not exceed $1 million, prior to the surtax. If the aggregate amount of each taxable member’s minimum tax on capital exceeds $1 million, each taxable member should prorate its minimum tax on capital such that the group’s aggregate minimum tax on capital equals $1 million Do not prorate the minimum tax of $250. In each member column, for both taxable and nontaxable members, enter the Member Number from Form CT-1120CU-MI, Combined Group Member Information, and the name of the corporation being reported. Financial Service Companies, REITs and RICs Financial service companies should leave Lines 1 through 9 blank. Taxable members that are financial service companies should enter $250 on Line 10. Nontaxable members that are financial service companies should enter $0 on Line 10. REITs and RICs should leave all lines in Part A and Part B blank. Companies Protected by Public Law 86-272 If the only member of a combined group that is subject to the Corporation Business Tax is immune from net income taxation in Connecticut pursuant to Public Law (P.L.) 86‑272, the group should calculate its tax only on the minimum tax base. If there are other, non-immune combined group members subject to the Corporation Business Tax, the group should calculate its tax on both the net income and minimum tax bases, but should treat the immune member as a nontaxable member for net income base purposes and as a taxable member for minimum tax base purposes. All other non-immune members subject to the Corporation Business Tax should be treated as taxable members for both bases. Form CT-1120CU-MTB Instructions (Rev. 12/23) Part A – Computation of combined group minimum tax base Complete a column for each taxable and nontaxable member. If there are more than six members in the combined group, attach copies of Page 2, as needed, using the same format. Beginning of year Line 1 In each Member column, for both taxable and nontaxable members, enter the beginning of tax year total amounts of: • The issued and outstanding capital stock, including treasury stock, at par or face value as reported on federal Form 1120, Schedule L, Line 22a and Line 22b; • Paid-in or capital surplus, including retained earnings as reported on federal Form 1120, Schedule L, Lines 23, 24, and 25. Any deficit must be reported as a negative number; and • Surplus reserves. A surplus reserve is an amount set aside or deducted from current or retained earnings for meeting future liabilities. Enter adjustments and eliminations amounts for intercorporate stock holdings and other intercompany transactions among members of the combined group. Add the amounts in each column and enter the total in the Combined Group Total column. Line 2 Enter the beginning of tax year book value of holding of stock of private corporations. Private corporations means all non‑governmental corporations, whether closely or publicly held. No deduction is allowed for intercorporate stock holdings among members of the combined group. Add the amounts in each column and enter the total in the Combined Group Total column. Line 3 Subtract Line 2 from Line 1 in each Member column. Add the amounts in each column and combine with adjustments and eliminations and enter the total in the Combined Group Total column. End of year Line 4 In each Member column, for both taxable and nontaxable members, enter the end of tax year total amounts of: • The issued and outstanding capital stock, including treasury stock, at par or face value as reported on federal Form 1120, Schedule L, Line 22a and Line 22b; • Paid-in or capital surplus, including retained earnings as reported on federal Form 1120, Schedule L, Lines 23, 24, and 25. Any deficit must be reported as a negative number; and • Surplus reserves. A surplus reserve is an amount set aside or deducted from current or retained earnings for meeting future liabilities. Enter adjustments and eliminations amounts for intercorporate stock holdings and other intercompany transactions among members of the combined group. Add the amounts in each column and enter the total in the Combined Group Total column. Page 1 of 2 Line 5 Enter the end of tax year book value of holdings of stock of private corporations. Private corporations means all non-governmental corporations, whether closely or publicly held. No deduction is allowed for intercorporate stock holdings among members of the combined group. Add the amounts in each column and enter the total in the Combined Group Total column. Line 6 Subtract Line 5 from Line 4 in each Member column. Add the amounts in each column and combine with adjustments and eliminations and enter the total in the Combined Group Total column. Line 7 Compute the average combined group minimum tax base by adding Line 3 and Line 6, Combined Group Total column, and dividing that amount by two. Part B – Computation of tax on combined group minimum tax base Complete a column for each taxable and nontaxable member. If there are more than six members in the combined group, attach copies of Page 2, as needed, using the same format. Line 8 For each taxable member, enter its minimum tax base apportionment fraction as calculated on Form CT-1120A-CU, Apportionment Computation for Combined Unitary Filers, Schedule S, or the appropriate apportionment form. Nontaxable members enter zero (“0”) apportionment. Form CT-1120CU-MTB Instructions (Rev. 12/23) Line 9 Multiply each member’s apportionment fraction on Line 8 by the average combined group total minimum tax base as reported on Line 7 to arrive at each member’s separately apportioned minimum tax base. Line 10 Multiply each member’s separately apportioned minimum tax base reported on Line 9 by the tax rate of 0.31% (.0031) and enter the result in each column. Do not enter less than $250 for any taxable member. Line 11 Add the amount of tax calculated in each column on Line 10 and enter the total on Line 11. If Line 11 is $1,000,000 or less, skip Line 12 and Line 13 and go to Line 14. Line 12 If the amount on Line 11 exceeds $1,000,000, prorate each member’s tax calculated on Line 10 so the total equals $1,000,000. Do not prorate any member’s minimum tax of $250. See Special Notice 2016(1), Combined Unitary Legislation. Line 13 Add the amounts in each column on Line 12 and enter the total. Line 14 Tax on combined group minimum tax base. Enter the lesser of $1,000,000 or the amount on Line 11. Enter also on Form CT-1120CU, Part I, Line 2. Page 2 of 2
Form CT-1120CU-MTB
More about the Connecticut Form CT-1120CU-MTB Corporate Income Tax TY 2023
We last updated the Tax on Combined Group Minimum Tax Base in February 2024, so this is the latest version of Form CT-1120CU-MTB, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-1120CU-MTB directly from TaxFormFinder. You can print other Connecticut tax forms here.
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| Form Code | Form Name |
|---|---|
| Form CT-1120CU-MI | Combined Group Member Information |
| Form CT-1120CU-NCB | Nexus Combined Base Tax Calculation |
| Form CT-1120CU-NI | Tax on Combined Group Net Income |
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-1120CU-MTB from the Department of Revenue Services in February 2024.
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-1120CU-MTB
We have a total of four past-year versions of Form CT-1120CU-MTB in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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