Form CT-1065/CT-1120SI, the Connecticut Composite Income Tax return is new for 2024 that takes the place of the Connecticut Pass-Through Entity Tax return. This form is required for every pass-through entity (partnership or S corp) that “does business in Connecticut or has income derived from or connected with sources within Connecticut regardless of the amount of its income (loss).”

Data Entry

To complete Form CT-1065/CT-1120SI in Drake Tax, first complete the federal return (Form 1065 or 1120-S). Then, make any additional entries in CT data entry to adjust, if needed.

Due Date

Form CT-1065/CT-1120SI is generally due the 15th day of the third month following the close of the tax year. Monday, March 17, 2025. for a calendar year return.

Estimates

Form CT-1065/CT-1120SI does not require estimated tax payments.

If the PET election is not made and there are payments for the PET tax, enter the total amount of payments on CT screen 1, Part 1, Schedule A, Line 5b.

Extension

Generate an extension for Form CT-1065/CT-1120SI using the CT > EXT screen.

PET Election

The entity may elect to file Form CT-PET, Connecticut Pass-Through Entity Tax Return. See Drake Tax - CT - Pass-through Entity Tax and Credit (PET) for details.

More Information

See the Composite Income Tax Information for details.