Worksheet CT-2210 PE: Underpayment of Estimated Income Tax by Pass-Through Entities (2024)
Connecticut · Connecticut DRS · Used for tax years 2024
Worksheet CT-2210PE calculates interest on underpaid estimated Connecticut Pass-Through Entity Tax for 2024. It includes schedules for annualized income installments and interest calculations. Keep the worksheet for your records and submit it to the Department of Revenue Services
Who files this form
Do not file this worksheet. Worksheet CT-2210PE is for filers of Form CT-PET who underpaid their estimated Connecticut Pass-Through Entity Tax and want to calculate interest. Keep it for your records and submit it to the Department of Revenue Services (DRS) only if requested.
Complete the worksheet only if:
- Your income varied during the year and the annualized income installment method reduces or eliminates your interest; or
- You want to calculate and pay the interest you owe with your return.
In general, interest applies if your required annual payment is $1,000 or more and you did not make timely installments. If Part 1, Line 4 is less than $1,000, stop and do not complete the rest of the worksheet.
When it's due
For tax year 2024 calendar-year filers, the printed estimated payment installment dates are:
- April 15, 2024
- June 15, 2024
- September 15, 2024
- January 15, 2025
If a due date falls on a Saturday, Sunday, or legal holiday, payment is considered timely if filed on the next business day. Fiscal-year filers must adjust the dates to their fiscal year.
For tax year 2024, the worksheet lists March 15, 2025 as the return due date for calendar-year filers. Underpayment interest accrues until that date or the date the underpayment is paid, whichever comes first.
The worksheet itself is not filed.
What you'll need
Have these returns and records available to complete the worksheet:
- Your 2024 Form CT-PET, Part 1, Schedule A, Line 2, for the current-year PE Tax.
- Your 2023 Form CT-1065/CT-1120SI, Part 1, Schedule A, Line 2a, for the prior-year PE Tax. The prior-year comparison applies only if that taxable year was 12 months and you filed a return for it.
- Records of estimated tax payments, including payment amounts and dates, and any prior-year overpayment applied to the current year.
- Your prior-year return filing date and timely extension request information, if relevant to when an overpayment is treated as paid.
- If using the annualized income installment method, records of income subject to PE Tax for each period shown in Schedule A.
The worksheet also asks for the entity's name, address, Federal Employer Identification Number, and Connecticut Tax Registration Number.
How to file
Do not mail or otherwise file Worksheet CT-2210PE with your return. Keep a copy and submit it to DRS only upon request. The text does not provide a mailing address or e-file procedure for this worksheet.
To use the calculation with your return:
- Complete Part 1 to determine your required annual payment.
- Complete Part 2 and the applicable Schedule B tables to calculate underpayments and interest.
- Enter total interest from Part 2, Line 6 on Form CT-PET, Part 1, Schedule A, Line 9c.
- If using the annualized income installment method, complete Schedule A of the worksheet and check the box on Form CT-PET, Part 1, Schedule A, Line 9d.
Common mistakes
- Filing the worksheet without a request. Keep it for your records and send it to DRS only if requested.
- Continuing when Part 1, Line 4 is below $1,000. The worksheet says to stop at that point.
- Assuming a refund means no interest is due. Interest may apply even if your return shows a refund.
- Assuming a later payment erases earlier interest. Interest is calculated separately for each installment, so an earlier underpayment can still create interest.
- Forgetting the annualized-method checkbox. If using that method, complete Schedule A and check Form CT-PET, Part 1, Schedule A, Line 9d.
- Using calendar-year dates for a fiscal year. Fiscal-year filers must adjust the dates to match their fiscal year.
Questions people ask
How is my required annual payment determined?
It is the smaller of 90% of the current-year PE Tax or 100% of the prior-year PE Tax. The prior-year amount may be used only if the prior taxable year was 12 months and the entity filed a return for it. If no current-year return is filed, the current-year comparison is 90% of the PE Tax for that year.
What interest rate applies?
Interest is 1% per month or fraction of a month. A month runs from the sixteenth day of one month through the fifteenth day of the next. Any fraction counts as a whole month.
What happens if I do not calculate the interest myself?
If you do not complete the worksheet and enter your calculated interest on Form CT-PET, Part 1, Schedule A, Line 9c, DRS will calculate interest on any estimated tax underpayment and send you a bill.
Could the annualized income installment method help me?
It may help if your income varied because you earned more later in the year than earlier. The method may reduce or eliminate one or more required installments. Complete Schedule A and check Form CT-PET, Part 1, Schedule A, Line 9d if you use it.