Connecticut General Statutes 12-710 – Persons subject to corporation business tax not taxable under this chapter. Persons exempt from federal taxation exempt from taxation under this chapter
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Any person taxable as a corporation for the purposes of chapter 208 shall not be subject to tax under this chapter. Any person which by reason of its purposes or activities is exempt from federal income tax shall be exempt from tax imposed under this chapter.
Terms Used In Connecticut General Statutes 12-710
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- federal: refer to the corresponding terms defined in the laws of the United States. See Connecticut General Statutes 12-701
- Person: means a person as defined in §. See Connecticut General Statutes 12-701