Who should pay estimated corporation business tax?
Every corporation carrying on business or having the right to carry on business in Connecticut, whose current year tax exceeds $1,000 after applying corporation business tax credits, must pay estimated tax in four installments, or be subject to interest on the underpayment of estimated tax. A corporation that made an estimated tax payment in the prior income year or whose corporation business tax liability exceeded $1,000 for the prior income year will receive four preprinted estimated tax payment coupons with instructions, from the Department of Revenue Services (DRS). 2. What is my required annual payment? Your required annual payment is the lesser of: • 90% of the tax (including surtax and after tax credits) shown on the Connecticut corporation business tax return for the current income year, or if no return is filed, 90% of the tax for such year; or • 100% of the tax (including surtax) shown on the Connecticut corporation business tax return for the previous income year without reg
