Connecticut General Statutes (Tax)
Conn. Gen. Stat. § 12-242g
Overpayments
# (a)
If a company has paid as an installment of estimated tax an amount in excess of the amount determined to be the correct amount of such installment, such amount shall be credited against any unpaid installment or against the tax. If the amount already paid, whether or not on the basis of installments, exceeds the amount determined to be the correct amount of the tax, the company shall be paid by the State Treasurer, upon order of the Comptroller, the amount of such overpayment.
# (b)
If a company has filed its tax return under this chapter for the income year on or before the due date of such return or, if an extension of time to file has been requested and granted, the extended due date of such return, any overpayment reported on such return, if the company has elected to credit such overpayment against the company's estimated tax for the succeeding income year, shall be treated as if paid on the due date of the first required installment of estimated tax for such succeeding income year. Such reported overpayment shall be credited against otherwise unpaid required installments in the order in which such installments are required to be paid under section 12-242d. (1963, P.A. 651, S. 13(a); P.A. 95-327, S. 3, 10; P.A. 11-61, S. 56.) History: P.A. 95-327 added authority for commissioner to prescribe regulations re crediting overpayment against estimated tax, effective July 1, 1995, and applicable to estimated corporation business taxes for income years commencing on or after January 1, 1996; P.A. 11-61 designated existing provisions as Subsec. (a) and amended same by removing regulations authority, and added Subsec. (b) re process for carrying overpayment forward, effective October 1, 2011, and applicable to estimated corporation business tax payments for income years commencing on or after January 1, 2012. Cited. 44 CA 529. (Return to ChapterTable of Contents) (Return toList of Chapters) (Return toList of Titles)
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In this chapter (40 sections)
- 12-219a · Apportionment of tax base in and out of state. Insurance…
- 12-219b · Election with respect to apportionment of net income
- 12-221a · Petition for alternative method of apportionment. Regulations
- 12-222 · Annual return. Designated taxable member of combined group.…
- 12-223 · Returns of affiliated corporations
- 12-223a · Combined corporation business tax return
- 12-223b · Intercompany rents and business receipts
- 12-223c · Minimum tax in combined return
- 12-223d · Assessments against one or more taxpayers in combined return
- 12-223e · Readjustment of taxes on revision of combined return
- 12-223f · Preference tax due from corporations filing a combined return
- 12-224 · Return of fiduciary
- 12-225 · Supplemental and amended returns. Refund claim
- 12-226 · Correction of returns; additional tax; refunds
- 12-226a · Adjustments by the commissioner. Regulations
- 12-227 · Interest on refunds
- 12-228 · Refunds to be made from General Fund
- 12-229 · Failure to pay tax or make return. Penalty. Waiver of penalty…
- 12-230 · Forfeiture of corporate rights for failure to make returns
- 12-231 · Penalties for wilful violation of requirements related to…
- 12-231a · Formation of insurance company affiliate of holding company…
- 12-232 · Authority to take testimony under oath; subpoenas
- 12-233 · Examination of returns by commissioner. Deadlines for mailing…
- 12-234 · Settlement with Treasurer
- 12-235 · Delinquent taxes; interest; collection
- 12-235a · Disallowance of credits if taxes due and unpaid
- 12-236 · Hearing by commissioner
- 12-237 · Appeal
- 12-238 · Abatement of taxes
- 12-239 · Abatement of taxes on motor bus company in receivership
- 12-240 · Publication and disclosure of information
- 12-241 · Tax to be in lieu of other taxes
- 12-241a · Definition
- 12-242 · Regulations
- 12-242d · Installment payment of estimated tax. Interest on…
- 12-242e · Disposition of installments
- 12-242f · Obligations of fiduciary
- 12-242g · Overpayments
- 12-242h · Regulations
- 12-242i · Declaration as return