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General information about Connecticut Form OP-424, Business Entity Return

SOLVEDby IntuitLacerte Tax6Updated July 27, 2021

As of June 26, 2019, taxpayers are no longer required to file the $250 biennial (2-year) Connecticut Business Entity Tax (BET) according to the Connecticut State Department of Revenue Services.

However, taxpayers must pay any outstanding delinquencies or assessments for older periods of the BET.

For general information about Connecticut Form OP-424, see the sections below.

Do businesses need to close BET registration with the DRS?

Per the Connecticut DRS instructions:

No. DRS will automatically close the business entity's BET registration after the final return is filed. The final BET return includes the 2017 and 2018 taxable years. If a business entity has already filed its 2017/2018 BET return and paid the $250 due, the business entity does not need to do anything further in order to close its registration for BET.

Any outstanding delinquencies or assessments for older periods of the BET will remain valid, but there will be no bills sent for the 2019/2020 biennial period.

When is a business entity's final BET return due?

The due date of the final BET return depends on the business entity's taxable year end. For calendar year filers, the final BET return was due on April 15, 2019. The following chart shows the final BET return due date for fiscal year filers:

Taxable year endingFinal Return Due Date
12/31/20184/15/2019
1/31/20195/15/2019
2/28/20196/15/2019
3/31/20197/15/2019
4/30/20198/15/2019
5/31/20199/15/2019
6/30/201910/15/2019
7/31/201911/15/2019
8/31/201912/15/2019
9/30/20191/15/2020
10/31/20192/15/2020
11/30/20193/15/2020

Does a new business entity that began business on or after January 1, 2019, need to register for BET with DRS?

No. The new business entity is not liable for BET and does not need to register for BET with DRS. If the new business entity is liable for other tax types, it must register for those taxes.

 

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