State Codes and Statutes
Statutes > Connecticut > Title12 > Chap208 > Sec12-223bSec. 12-223b. Intercompany rents and business receipts. (a) Intercompany rents shall not be included in the computation of the value of property rented as a property factor in the apportionment fraction if the lessor and lessee are included in a combined return as provided in section 12-223a.
(b) Intercompany business receipts, receipts by a corporation included in a combined return from any other corporation included in such return, shall not be included in the computation of the receipts factor of the apportionment fraction.
(P.A. 73-350, S. 21, 22, 27; P.A. 74-304, S. 2, 3; P.A. 81-411, S. 5, 42.)
History: P.A. 73-350, effective May 9, 1973, and applicable to income years beginning on or after January 1, 1973; P.A. 74-304 substituted "included in a combined return" for "taxed on a combined basis", effective May 30, 1974, and applicable to income years beginning on or after January 1, 1973; P.A. 81-411 made technical change substituting receipts for sales, effective June 18, 1981, and applicable to income years commencing on or after December 28, 1980.