What is the penalty for the late filing of a Connecticut Corporation?
The State of Connecticut Department of Revenue Services states that "the penalty for late payment or underpayment of corporation business tax is 10% of the tax due or $50, whichever is greater. If a request for a filing extension has been granted, a corporation may avoid a penalty for failure to pay the full amount due by the original due date if it pays:
• At least 90% of the tax shown to be due on the return on or before the original due date of the return; and
• The balance due with the filing of Form CT-1120, on or before the extended due date.
If no tax is due, DRS may impose a $50 penalty for the late
filing of any return or report required by law to be filed.