Sec. 12-204c-1. Estimated tax payments for short years

1. (a) Definitions. In this section:

   1. (1) "Companies" means insurance companies, as defined in section 12-201(4) of the Connecticut General Statutes; hospital and medical service corporations, as described in section 12-212a of the Connecticut General Statutes; and health care centers, as defined in section 38a-175 of the Connecticut General Statutes;
   2. (2) "Required annual payment" means the required annual payment, as defined in section 12-204c(d)(2) of the Connecticut General Statutes; and (3) "Short taxable year" means a period of less than 12 months.
2. (b) How many instalments are required? Use the chart below to determine how many instalments a company is required to make. In determining how many instalments are required, treat a portion of a month as a full month. For short taxable years of:The number of estimated tax installments that shall be made is:Which are due on or before the 15th day of the:The percentage of the required annual payment that is due with each instalment is:1 month or less0——2 to 3 months1Last month of the short taxable year.100% of the required annual payment.4 to 6 months23rd and last months of the short taxable year.30% of the required annual payment for the first instalment, and70% of the required annual payment for the second instalment.7 to 9 months33rd, 6th and last months of the short taxable year.30% of the required annual payment for the first instalment;30% of the required annual payment for the second instalment; and40% of the required annual payment for the third instalment.10 to 11 months43rd, 6th, 9th and last months of the short taxable year.30% of the required annual payment for the first instalment;30% of the required annual payment for the second instalment;20% of the required annual payment for the third instalment; and20% of the required annual payment for the fourth instalment.

(Adopted effective May 3, 2001)