CT-1120A-LP: Corporation Business Tax Return Apportionment of Limited Partnership Interests (Revision 2017-12)
Connecticut · Connecticut DRS · Used for tax years 2024, 2025, 2026
Form CT-1120A-LP calculates a corporation’s Connecticut distributive share of limited partnership income and assets for Corporation Business Tax purposes. It also allows a qualifying corporation to elect not to be taxed on its distributive share of limited partnership income or l
Who files this form
Complete Form CT-1120A-LP and Schedules I-LP, M-LP, and S-LP if the corporation:
- Is not otherwise carrying on or doing business in Connecticut;
- Is a limited partner in one or more LLCs or limited partnerships, other than an investment partnership, doing business, owning or leasing property, or maintaining an office in Connecticut; and
- Does not elect to apportion its income within and outside Connecticut.
A corporation that is a limited partner in one or more investment limited partnerships and is not otherwise carrying on or doing business in Connecticut is not required to file a Corporation Business Tax return.
Do not use this form to calculate apportioned income and the minimum tax base if the corporation is a general partner in a partnership doing business in Connecticut, otherwise does business in Connecticut, including activities subject to economic nexus, or engages in a unitary business with a partnership doing business in Connecticut. Use Form CT-1120A or another applicable apportionment form instead.
A member of a combined group filing Form CT-1120CU also should not use this form to calculate its portion of the group's Connecticut apportioned net income and minimum tax base.
What you'll need
Have the following information ready:
- Corporation name, Connecticut Tax Registration Number, and income year beginning and ending dates.
- Names and Federal Employer Identification Numbers (FEINs) of the limited partnerships.
- Each partnership's Connecticut-source distributive share of income or loss, as determined for federal income tax purposes.
- Each partnership's average value and the percentage used to determine the partner's distributive share of ordinary income or loss.
- Average monthly net book values of the intangible assets and tangible property listed on Schedule S-LP, for Connecticut and everywhere.
Complete a separate Schedule S-LP for each limited partnership.
How to file
Complete the form in blue or black ink only.
- Schedule I-LP: List each limited partnership with Connecticut-source income. Add Column C, Lines 1 through 3, and enter the total on Form CT-1120, Schedule A, Line 3.
- Schedule S-LP: Complete a separate schedule for each limited partnership. Divide Line 3, Column I by Line 3, Column II, carry the fraction to six places, and enter it in Schedule M-LP, Column D.
- Schedule M-LP: Multiply Column C by Column D to get Column E. Multiply Column E by Column F to get Column G. Add Column G, Lines 1 through 3, and enter the total on Form CT-1120, Schedule B, Line 3.
If a qualifying corporation elects not to be taxed on its distributive share of limited partnership income or loss, check the election box and attach Form CT-1120A-LP to Form CT-1120. Do not complete any schedules on Form CT-1120A-LP. Compute the income apportionment fraction on Form CT-1120A, Schedule Q, and the minimum tax base apportionment fraction on Form CT-1120A, Schedule S.
The supplied text does not specify a mailing address or e-filing method.
Common mistakes
- Using ink other than blue or black. The form requires blue or black ink only.
- Using this form when another apportionment form is required. Check the restrictions for general partners, corporations otherwise doing business in Connecticut, unitary businesses, and combined-group members.
- Completing schedules after checking the election box. A corporation making the election must leave the schedules uncompleted and attach the form to Form CT-1120.
- Not completing a separate Schedule S-LP for each limited partnership. The form specifically requires a separate schedule for each one.
- Not carrying the Schedule S-LP apportionment fraction to six places. Follow that instruction when transferring the fraction to Schedule M-LP.
Questions people ask
Does an investment limited partnership interest alone require a Corporation Business Tax return?
No. A corporation that is a limited partner in one or more investment limited partnerships and is not otherwise carrying on or doing business in Connecticut is not required to file that return.
What happens if the corporation checks the election box?
The qualifying corporation elects not to be taxed on its distributive share of limited partnership income or loss. It must instead compute the Corporation Business Tax on its entire net income or minimum tax base. The minimum tax base apportionment calculation includes the value of all partnership interests.
Which income belongs on Schedule I-LP?
Enter the distributive share of partnership income or loss determined for federal income tax purposes, to the extent it is derived from or connected with Connecticut sources. Connecticut sourcing is determined under Chapter 229 of the Connecticut General Statutes and its regulations.
Do I need a separate Schedule S-LP for every limited partnership?
Yes. Complete a separate Schedule S-LP for each limited partnership and enter its minimum tax base apportionment fraction in Schedule M-LP, Column D.