In the world of business and finance, the transfer of controlling interest in an entity is a significant event that not only affects the internal structure of the organization but also has critical tax implications. Recognizing the importance of this, the State of Connecticut's Department of Revenue Services mandates the filing of Form AU-331, otherwise known as the Controlling Interest Transfer Taxes Informational Return. This form serves as a vital tool for reporting the transfer of a controlling interest, which is defined as more than 50% of the voting power in corporate entities or more than 50% of the capital, profits, or beneficial interest in non-corporate entities like partnerships, limited liability companies, or trusts. The form gathers detailed information about the entity undergoing the change, the transferor(s), and transferee(s), ensuring that the state is informed about who now holds the controlling interest. Moreover, it requires the declaration of the transfer under the penalty of law, emphasizing the serious legal nature of the document. Understanding the comprehensive instructions provided with Form AU-331 is indispensable for accurately completing and submitting this crucial filing, which is necessary when these significant ownership changes occur.
| Question | Answer |
|---|---|
| Form Name | Form Au 331 |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | formau331 form au 331 |
Department of Revenue Services
State of Connecticut
PO Box 5031
Hartford CT
(Rev. 5/05)
Form |
|
Received by DRS |
Controlling Interest Transfer Taxes
Informational Return
Check if this is an amended return.
Read instructions below before completing this return.
Part I - Information concerning the entity in which controlling interest was transferred
1. Name
2. Federal Employer Identification Number
3.Address
4.Date controlling interest transferred
5.Interest transferred
Part II - Information concerning the transferor(s)
6. |
Name |
7. Federal Employer Identification Number or Social Security Number |
|
||
|
|
|
8. |
Address |
|
|
|
Part III - Information concerning the transferee(s)
9. |
Name |
10. Federal Employer Identification Number or Social Security Number |
|
||
|
|
|
|
|
|
11. |
Address |
|
|
|
Declaration: I declare under penalty of law that I have examined this return (including any accompanying schedules and statements) and, to the best of my knowledge and belief, it is true, complete, and correct. I understand the penalty for willfully delivering a false return to DRS is a fine of not more than $5,000, or imprisonment for not more than five years, or both. The declaration of a paid preparer other than the taxpayer is based on all information of which the preparer has any knowledge.
Sign Here
Keep a copy of this return for your records
Signature of Principal Officer |
Title |
Date |
|
|
|
|
|
Print Name of Principal Officer |
|
Telephone Number |
|
|
|
( |
) |
Paid Preparer’s Signature |
Date |
Preparer’s SSN or PTIN |
|
|
|
|
|
Firm Name and Address |
|
FEIN |
|
|
|
|
|
Instructions
Form
A controlling interest is more than 50 percent (50%) of the total combined voting power of all classes of stock (in the case of a corporate entity) and more than 50 percent (50%) of the capital, profits, or beneficial interest (in the case of a noncorporate entity, such as a partnership, limited liability company, or trust). A controlling interest may be transferred in one transfer or in a series of transfers.
Line 4. Enter the date on which the interest was transferred. This return is due on or before the last day of the month following the month in which the controlling interest was transferred. When the controlling interest is transferred in a series of transfers, enter the date in which the interest transferred, in the aggregate, is more than 50 percent (50%).
Line 6. Enter name of transferor. If more than one transferor, attach a schedule providing the name, address, and Federal Employer Identification Number of each transferor.
Line 7. If a transferor is an individual, enter his or her Social Security Number. If a transferor is other than an individual, enter its Federal Employer Identification Number.
Line 8. If the transferor is an individual, enter his or her home address.
Line 9. Enter name of transferee. If more than one transferee, attach a schedule providing the name, address, and Federal Employer Identification Number of each transferee.
Line 10. If the transferee is an individual, enter his or her Social Security Number. If a transferee is other than an individual, enter its Federal Employer Identification Number.
Line 11. If the transferee is an individual, enter his or her home address.
Mail Form