Connecticut Imposes Annual Business Entity Tax
Connecticut has enacted House Bill 6002, effective July 1, 2002
and applicable to income years commencing on or after January 1, 2002. This
new legislation imposes an annual tax of $250.00 on each limited liability
company that is treated as a partnership for federal income tax purposes,
limited liability partnership, limited partnership and S corporation. The
annual tax must be paid to the Commissioner of Revenue Services on or before
the fifteenth day of the fourth month following the close of the entity's
taxable year. The failure of any of the above entities to pay the tax within
thirty days of the due date will result in a $50 penalty, plus interest at
the rate of 1% per month or fraction thereof from the due date until the date
of payment. In addition, the amount of any such tax, penalty and interest
shall be a lien, from the 31st day of December next preceding the due date
of such tax until discharged by payment, against all real estate of the taxpayer
within the state of Connecticut, although no such lien shall be effective
as against any bona fide purchaser or qualified encumbrancer of any interest
in any such property.
For additional information regarding House Bill 6002 or to view a copy of
the bill text, please click on the following link:http://www.drs.state.ct.us/whatsnew/2002legchg.html#BusinessEntityTax
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