When is form op 424 due

Furthermore, the bill incrementally reduces capital stock tax rates until the tax is phased out entirely for income years commencing on or after January 1, For taxpayers in the digital goods space, the sales tax rate has significantly increased for sales of digital goods after October 1, A few of the newly taxable items may qualify as exempt when purchased by a business instead of an individual.

Upon the Wayfair decision, many states have passed laws surrounding sales tax nexus and thresholds. However, H. The reduced nexus threshold increases the need for companies to reanalyze their sales tax exposure. Also effective July 1, , is a similar reduced click-through nexus threshold for companies who have sales through agreements with Connecticut-based retailers.

In addition to the threshold change, the receipts that qualify have expanded from strictly tangible personal property to both tangible personal property and sales of services.

The purpose of the tax is for the authority to do business within the state. The tax, filed on form OP, is due every other year. With the passage of the H. The current tax on businesses is 3. Beginning in the tax year the changes will be as follows:. Intuit Help Intuit. For general information about Connecticut Form OP, see the sections below. When is a business entity's final BET return due? Was this helpful?

Yes No. You must sign in to vote, reply, or post. Labels 1. Labels Lacerte Tax. All discussions Previous discussion Next discussion. Understanding e-file mandates. Amending a Connecticut passthrough return in ProSeries.

Electronic filing deadlines and perfection periods for individual returns and extensions Intuit Lacerte Tax. Intuit ProConnect Tax. Intuit ProSeries Tax. Additional Accounting Solutions. Tax Pro Center. Tax Practice Resources. Call sales: All rights reserved.