Regulations of Connecticut State Agencies — Title 12
Conn. Agencies Regs § 12-218-2
Derivation of income or loss
# (a)
Whether or not the net income or loss of a company is derived from the manufacture, sale or use of tangible personal or real property shall be determined by examining its business wherever carried on and not just by examining its business carried on within this state.
# (b)
The primary derivation of net income or loss shall be controlling. If the net income or loss of a company is primarily derived from the manufacture, sale or use of tangible personal or real property and only secondarily derived from an activity not involving the manufacture, sale or use of tangible personal or real property, the net income or loss of such company shall be deemed to be derived from the manufacture, sale or use of tangible personal or real property.
Amendment history
July 21, 1982
Source: official regulations index (title 12 publishes as one PDF)
Nearby sections (25 sections)
- 12-217s-8 · Department determination of eligible credit
- 12-217s-9 · Certification of eligible credit
- 12-217s-10 · Document production and record keeping
- 12-217y-1 · Definitions
- 12-217y-2 · Program purpose
- 12-217y-3 · Application and approval process
- 12-217y-4 · Allocation of tax credit
- 12-217y-5 · Certification process
- 12-217y-6 · Business firm to submit report at end of income year
- 12-217y-7 · Timeliness; evidence of mailing
- 12-217y-8 · Tax credit carry forwards
- 12-218-1 · Definitions
- 12-218-2 · Derivation of income or loss
- 12-218-3 · Apportionment fraction
- 12-219a-1 · Definitions
- 12-221a-1 · Alternate method of apportionment
- 12-223a-1 · Combined tax
- 12-223a-2 · Combined operating loss
- 12-225-1 · Repealed, August 3, 2001
- 12-225-2 · Adjustments to net income resulting from subtraction of
- 12-226-1 · Repealed, August 3, 2001
- 12-226a-1 · Adjustments by commissioner
- 12-233-1 · Repealed, February 25, 2000
- 12-236-1 · Repealed, February 25, 2000
- 12-242-1 · Repealed, July 21, 1982