Form CT-1120I Computation of Interest Due on Underpayment of Estimated Tax - Connecticut

What Is Form CT-1120I?

This is a legal form that was released by the Connecticut Department of Revenue Services - a government authority operating within Connecticut. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form CT-1120I?
A: Form CT-1120I is the Computation of Interest Due on Underpayment of Estimated Tax for the state of Connecticut.

Q: What is the purpose of Form CT-1120I?
A: The purpose of Form CT-1120I is to calculate and report the interest due on any underpayment of estimated tax in Connecticut.

Q: Who needs to file Form CT-1120I?
A: Corporations and other entities subject to Connecticut corporation tax that have underpaid their estimated tax may need to file Form CT-1120I.

Q: When is Form CT-1120I due?
A: Form CT-1120I is generally due on the same date as the Connecticut corporation tax return, which is on or before the 15th day of the fourth month following the close of the tax year.

Q: How do I fill out Form CT-1120I?
A: Form CT-1120I requires you to provide information about the underpayment amount, the period of underpayment, and any applicable interest rates. You will need to perform calculations to determine the interest due.

Q: Are there any penalties for underpayment of estimated tax in Connecticut?
A: Yes, Connecticut may impose penalties on underpayments of estimated tax. Form CT-1120I helps calculate the interest due, which is part of the penalty calculation.

Q: Is Form CT-1120I required for individuals?
A: No, Form CT-1120I is not required for individuals. It is specifically for corporations and other entities subject to Connecticut corporation tax.