Regulations of Connecticut State Agencies — Title 12
Conn. Agencies Regs § 12-701(a)(20)-6
Connecticut adjusted gross income of resident shareholder of S corporation
# (a)
An S corporation as such is not subject to the income tax. Individuals who are shareholders of an S corporation are liable for the income tax in their individual capacities on their respective pro rata shares of S corporation income, whether or not such shares are actually distributed to them.
# (b)
Subject to the modifications described in § 12-715(a)-2 and § 12-715(b)-2 of Part VII, a resident shareholder's pro rata share of an S corporation's—
# (1)
separately computed income or loss is included in such shareholder's federal adjusted gross income and, therefore, is included in such shareholder's Connecticut adjusted gross income; and
# (2)
nonseparately computed income or loss is included in such shareholder's federal adjusted gross income and, therefore, is included in such shareholder's Connecticut adjusted gross income.
# (c)
While this section pertains to Section 12-701(a)(20) of the general statutes, for purposes of supplementary interpretation, as the phrase is used in Section 12-2 of the general statutes, the adoption of this section is authorized by Section 12-740(a) of the general statutes.
Amendment history
November 18, 1994; amended March 8, 2006
Source: official regulations index (title 12 publishes as one PDF)
Nearby sections (25 sections)
- 12-701(a)(9)-1 · Connecticut taxable income of a resident trust or…
- 12-701(a)(10)-1 · Definition of Connecticut fiduciary adjustment
- 12-701(a)(10)-2 · Modifications comprising the Connecticut fiduciary
- 12-701(a)(10)-3 · Modifications comprising the Connecticut fiduciary
- 12-701(a)(10)-4 · Treatment of set-asides for charitable purposes
- 12-701(a)(11)-1 · Estimated tax
- 12-701(a)(12)-1 · Required annual payment
- 12-701(a)(20)-1 · Connecticut adjusted gross income of a resident…
- 12-701(a)(20)-2 · Modifications increasing federal adjusted gross income
- 12-701(a)(20)-3 · Modifications reducing federal adjusted gross income
- 12-701(a)(20)-4 · Modification for Connecticut fiduciary adjustment
- 12-701(a)(20)-5 · Modification of federal adjusted gross income for…
- 12-701(a)(20)-6 · Connecticut adjusted gross income of resident…
- 12-701(b)-1 · Definitions
- 12-702(c)(1)-1 · Connecticut income tax returns of husband and wife
- 12-702(c)(1)-2 · Relief of spouse from Connecticut income tax liability…
- 12-702(c)(1)-3 · Enrolled member of federally recognized tribe
- 12-704(a)-1 · Resident or part-year resident credit for taxes paid to
- 12-704(a)-2 · Limitations—general
- 12-704(a)-3 · Limitations where credit is claimed for income taxes paid
- 12-704(a)-4 · Definitions
- 12-704(b)-1 · Amended Connecticut income tax return to report any
- 12-704(c)-1 · Disallowance where credit is claimed against the income
- 12-704(d)-1 · (Effective November 18, 1994; amended and renumbered to §…
- 12-705(a)-1 · Requirement of withholding