Connecticut State Department of Revenue Services

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Ruling 89-217, Corporation Business Tax

Ruling 89-217

Corporation Business Tax

Please be advised that capital losses pursuant to section 12-217(a) of the Connecticut General Statutes may only be used to offset net capital gains. In the examples that you have cited, there would exist a combined taxable income of $200 (Y Corporation having taxable income of $100).

LEGAL DIVISION

November 15, 1989