CT-990T: Connecticut Unrelated Business Income Tax Return (2024)
Connecticut · Connecticut DRS · Used for tax years 2024
Form CT-990T is the 2024 Connecticut Unrelated Business Income Tax Return. It reports unrelated business taxable income, calculates Connecticut tax, and accounts for credits, payments, and any balance due or refund. The return must be filed electronically.
What you'll need
Have these documents and details ready:
- A complete copy of your 2024 federal Form 990-T, including all schedules as filed with the IRS. Attach this copy to your Connecticut return.
- Your organization's Connecticut Tax Registration Number, Federal Employer ID Number (FEIN), address, and income-year beginning and ending dates.
- Details about when the unrelated trade or business began in Connecticut and the nature of its activity.
- If applicable, tax credits from Form CT-1120K, extension payments from Form CT-990T EXT, estimated payments from Forms CT-990T ESA, ESB, ESC, and ESD, and any prior-year overpayment.
- If completing Schedule A, Connecticut and everywhere amounts for property, receipts, and wages, salaries, and other compensation.
- If claiming an operating loss carryover, the amounts needed for Schedule B.
- If changing your closing month, an attached explanation.
How to file
File and pay electronically using myconneCT. The form says electronic filing is required. Do not mail a paper return to the Connecticut Department of Revenue Services (DRS).
Attach a complete copy of federal Form 990-T, including all schedules as filed with the IRS. Complete the officer or fiduciary signature section and keep a copy of the return for your records.
Common mistakes
- Using the wrong year's form. Use the 2024 form for the 2024 return. The form warns that using the wrong year can delay processing.
- Mailing a paper return. Electronic filing is required.
- Leaving out federal schedules. Attach a complete federal Form 990-T, including all schedules as filed with the IRS.
- Exceeding the printed limits. Tax credits on Computation of Amount Payable, Line 4, cannot exceed Line 1. The operating loss carryover on Computation of Tax, Line 4, cannot exceed 50% of Line 3.
- Not keeping a copy. The form reminds you to keep a copy for your records.
Questions people ask
When do I complete Schedule A?
Complete Schedule A if your unrelated trade or business is conducted at a regular place of business outside Connecticut.
Can I apply an overpayment to next year's estimated tax?
Yes. Line 9a provides for an amount to be credited to 2025 estimated tax. Line 9b provides for an amount to be refunded.
Can I receive my refund by direct deposit?
Yes. For a faster refund, the form says to complete Lines 9c, 9d, and 9e with your account type, routing number, and account number. It also asks whether the refund will go to a bank account outside the U.S. and asks for the bank name.
How much operating loss carryover can I use?
Computation of Tax, Line 4, uses the carryover from Schedule B, Line 21. The amount cannot exceed 50% of Connecticut unrelated business taxable income on Computation of Tax, Line 3.