Conn. Gen. Stat. § 12-506g
Exemption for gains subject to tax as income of a Subchapter S corporation
Connecticut · General Statutes of Connecticut Chapter 224 — Dividends, Interest Income and Capital Gains Tax · Status: effective
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- Citation
- Conn. Gen. Stat. § 12-506g, Exemption for gains subject to tax as income of a Subchapter S corporation, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2175335
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Full text
Any shareholder in a small business corporation, as defined in Section 1371 of the Internal Revenue Code, which corporation has made an election not to be subject to tax as a corporation under the federal income tax in accordance with Section 1372 of the Internal Revenue Code, shall not be subject to tax under section 12-506 with respect to any gains from the sale or exchange of capital assets, as defined in section 12-505, included in the income of such corporation for purposes of determining the tax imposed on such corporation under chapter 208.