Ed Mortimer

Outlined below is some basic information on state and federal taxation as a reference for companies considering a business location in the U.S. and the Greenwich, Connecticut area.

Connecticut Taxation

Corporate Income

Connecticut’s corporate tax structure consists of a flat rate of 7.5% on all corporate income.

Note: Please consult your tax professional, the Connecticut Department of Revenue Services and the IRS to confirm your specific situation and your applicable rates, possible penalties and interest charges. This information is provided for reference purposes only.

Connecticut Department of Revenue Services

Live Telephone Assistance within Hartford calling area or outside of Connecticut 860.297.5962
Live Telephone Assistance everywhere else in Connecticut 800.382.9463
Web site

Corporate Taxation

Federal Income Tax

Most large corporations are classified as C corporations and are required to file a federal corporate income tax return with the IRS every year. Rates vary - contact the IRS - see below - for more information.

If the corporation qualifies, it may elect to be an S corporation. These companies do not (with certain exceptions) pay corporate tax on income. Their income is instead passed to shareholders and taxed accordingly. Limited Liability Companies (LLCs) is another corporate structure also available to anyone seeking to establish a corporate entity.

Internal Revenue Service

Live Telephone Assistance-General 800.829.1040
Live Telephone Assistance for Businesses 800.829.4933
Live Telephone Assistance for people with hearing impairments 800.829.4059
Web site