Public Act 19-117, signed by Gov. Lamont on June 26, 2019, sunsets the $250 biennial Connecticut Business Entity Tax (BET).
Does a business entity need to do anything to close its BET registration with DRS?
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.