Form CT-1120A-SBC "Corporation Business Tax Return - Apportionment Computation - Securities Brokerage Services" - Connecticut

Form CT-1120A-SBC or the "Corporation Business Tax Return - Apportionment Computation - Securities Brokerage Services" is a form issued by the Connecticut Department of Revenue Services.

The form was last revised in December 1, 2016 and is available for digital filing. Download an up-to-date Form CT-1120A-SBC in PDF-format down below or look it up on the Connecticut Department of Revenue Services Forms website.

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Download Form CT-1120A-SBC "Corporation Business Tax Return - Apportionment Computation - Securities Brokerage Services" - Connecticut

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Department of Revenue Services
Form CT-1120A-SBC
State of Connecticut
Corporation Business Tax Return
(Rev. 12/16)
Apportionment Computation - Securities Brokerage Services
Enter Income Year Beginning
,
, and Ending
,
________________________
___________
________________________
___________
Corporation Name
Connecticut Tax Registration Number
Complete this form in blue or black ink only.
See instructions on reverse.
Schedule R-SBC – Net Income Apportionment
1. Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
taxpayer’s customers who are domiciled in Connecticut
1.
2. Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
taxpayer’s customers wherever domiciled
2.
3. Apportionment fraction for securities brokerage services company: Divide Line 1 by Line 2. Carry
0.
to six places.
3.
Schedule A-1 – Computation of Connecticut Net Income
Column A
Column B
Column C
Net income derived from
Net income derived from
Net income derived from
securities brokerage services
fi nancial services other than
sources other than securities
securities brokerage services
brokerage services or
fi nancial services
4. Net income from Form CT-1120,
Schedule A, Line 1.
Form CT-1120CU fi lers only: Enter in
Column A the net income from securities
brokerage services. Do not complete
Column B and Column C.
4.
5. Securities brokerage service company
apportionment fraction from
0.
Schedule R-SBC, Line 3. Carry to six places. 5.
6. Financial service company apportionment
fraction from Form CT-1120A-FS, Line 15.
0.
Carry to six places.
6.
7. Securities brokerage service company
apportionment fraction from the applicable
0.
apportionment form. Carry to six places.
7.
8. Balances after apportionment: Multiply
Line 4, Column A, by Line 5, Column A.
Multiply Line 4, Column B, by Line 6,
Column B. Multiply Line 4, Column C, by
Line 7, Column C.
Form CT-1120CU fi lers only: Enter the
amount in Column A in the appropriate
column on Form CT-1120CU-NI, Tax
on Combined Group Net Income, Part III,
Line 6.
8.
9. Securities brokerage service company
Connecticut net income: Add Line 8,
Columns A through C. Enter the total
here and on Form CT-1120, Schedule A,
Line 3. Make no entries on Form CT-1120,
Schedule A, Line 1 and Line 2.
9.
Department of Revenue Services
Form CT-1120A-SBC
State of Connecticut
Corporation Business Tax Return
(Rev. 12/16)
Apportionment Computation - Securities Brokerage Services
Enter Income Year Beginning
,
, and Ending
,
________________________
___________
________________________
___________
Corporation Name
Connecticut Tax Registration Number
Complete this form in blue or black ink only.
See instructions on reverse.
Schedule R-SBC – Net Income Apportionment
1. Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
taxpayer’s customers who are domiciled in Connecticut
1.
2. Brokerage commissions and total margin interest paid on behalf of brokerage accounts owned by
taxpayer’s customers wherever domiciled
2.
3. Apportionment fraction for securities brokerage services company: Divide Line 1 by Line 2. Carry
0.
to six places.
3.
Schedule A-1 – Computation of Connecticut Net Income
Column A
Column B
Column C
Net income derived from
Net income derived from
Net income derived from
securities brokerage services
fi nancial services other than
sources other than securities
securities brokerage services
brokerage services or
fi nancial services
4. Net income from Form CT-1120,
Schedule A, Line 1.
Form CT-1120CU fi lers only: Enter in
Column A the net income from securities
brokerage services. Do not complete
Column B and Column C.
4.
5. Securities brokerage service company
apportionment fraction from
0.
Schedule R-SBC, Line 3. Carry to six places. 5.
6. Financial service company apportionment
fraction from Form CT-1120A-FS, Line 15.
0.
Carry to six places.
6.
7. Securities brokerage service company
apportionment fraction from the applicable
0.
apportionment form. Carry to six places.
7.
8. Balances after apportionment: Multiply
Line 4, Column A, by Line 5, Column A.
Multiply Line 4, Column B, by Line 6,
Column B. Multiply Line 4, Column C, by
Line 7, Column C.
Form CT-1120CU fi lers only: Enter the
amount in Column A in the appropriate
column on Form CT-1120CU-NI, Tax
on Combined Group Net Income, Part III,
Line 6.
8.
9. Securities brokerage service company
Connecticut net income: Add Line 8,
Columns A through C. Enter the total
here and on Form CT-1120, Schedule A,
Line 3. Make no entries on Form CT-1120,
Schedule A, Line 1 and Line 2.
9.
Form CT-1120A-SBC
Instructions
Complete this form in blue or black ink only.
Defi nitions
Use Form CT-1120A-SBC to apportion net income
Securities brokerage services means services and
from securities brokerage services. A corporation
activities including all aspects of purchasing and selling
must apportion income from securities brokerage
of securities rendered by a broker or dealer as defi ned in
services separately using Form CT-1120A-SBC. If the
15 USC §78c(a)(4), and registered under the provisions
corporation qualifi es as a fi nancial service company,
of 15 USC §§78a-78kk, inclusive. Securities brokerage
all other income will be apportioned using Form
services do not include services rendered by a bank
CT-1120A-FS, Corporation Business Tax Return
or any other person buying and selling securities for a
Apportionment Computation of Income From Financial
person’s own account either individually or in a fi duciary
Service Company Activities. If the company does not
capacity.
qualify as a fi nancial service company, all other income
S e c u r i t i e s m e a n s s e c u r i t y a s d e f i n e d i n
must be apportioned in accordance with the appropriate
15 USC §78c(a)(10).
schedule.
Brokerage commissions include but are not limited
to all sales fees on agency or principal transactions,
Schedule R-SBC – Net Income Apportionment
whether charged explicitly or implicitly.
Complete Schedule R-SBC and enter the resulting
Domicile of a customer shall be presumed to be the
apportionment fraction from Line 3 on Form CT-1120,
customer’s mailing address on the records of the
Corporation Business Tax Return, Schedule A, Line 2,
corporation.
only if the corporation’s entire net income is derived
from securities brokerage services. If the corporation’s
net income is derived in part from sources other than
securities brokerage services, complete Schedule
R-SBC and Schedule A-1.
Corporations that provide securities brokerage services
that file as part of Form CT-1120CU, Combined
Corporation Business Tax Return, may apportion their
income if any member of the combined group carries on
or does business outside of Connecticut or is a fi nancial
service company.
Schedule A-1 – Computation of Connecticut
Net Income
Complete Schedule A-1 if the taxable net income for a
securities brokerage services company is derived in part
from sources other than securities brokerage services.
Form CT-1120CU fi lers: Combined group members
that are subject to securities brokerage services
apportionment should complete Schedule A-1,
Column A. Do not complete Column B and
Column C. Enter the amount on Line 5 in Column A
in the appropriate column on Form CT-1120CU-NI,
Tax on Combined Group Net Income, Part III, Line 6.
Receipts derived from fi nancial services, other than
securities brokerage services, should be included in
the combined group’s apportionment calculation on
Form CT-1120A-CU, Apportionment Computation
for Combined Unitary Filers.
Form CT-1120A-SBC Back (Rev. 12/16 )
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