Conn. Gen. Stat. § 12-59
The whole property in this state of each corporation organized under the law of this state, whose stock is not liable to taxation, and which is not required to pay a direct tax to this state in lieu of other taxes, and whose property is not expressly exempt from taxation, and the whole property in this state of each corporation organized under the law of any other state or country, including each foreign municipal electric utility, shall be set in the grand list and shall be liable to taxation in the same manner as the property of individuals. The stockholders of any corporation, the whole property of which is assessed and taxed in its name, shall be exempt from assessment or taxation for their stock therein. As used in this section, "foreign municipal electric utility" means a town, city, borough or any municipal corporation, department or agency thereof, of a state other than this state, whether or not separately incorporated, which is authorized under the laws of the state in which it is organized or resident to generate and transmit electric energy and which holds property in this state.
Conn. Gen. Stat. § 12-59
(1949 Rev., S. 1751; P.A. 73-442, S. 1; P.A. 82-458, S. 2, 3; P.A. 99-189, S. 11, 20; P.A. 02-103, S. 43.)
Formerly, bank stock owned by corporation was not taxable. 3 C. 15. Bank stock owned by savings bank held taxable where latter is located; deposits in savings banks are not stock. 20 C. 111. The capital stock of a bank embraces all its property. 31 C. 106. What exempt under former provision, as property necessary to corporation's "appropriate business". 35 C. 7; 40 C. 498. A corporation's principal place of business is where its governing power is exercised. Id., 65. Real estate of national banking association not taxable under section; such deposits must be listed here. 74 C. 449. Water mains. 79 C. 70; 85 C. 119. Includes cash of corporation in hands of receiver. 82 C. 409. Applies to bank deposits in New York belonging to a Connecticut corporation and used here for corporate purposes in connection with its local business. 92 C. 321. Application where part of a manufacturing plant is in a fire district. Id., 674. Does not apply to dam or transmission line of hydroelectric company. 101 C. 394, 400. Section does not give state power to tax the property of national banks. 135 C. 191. Average amount of goods kept in custody of mill by out-of-state owner held not "permanently located" in town. 145 Conn. 375. Merchandise located in warehouse in New Haven for 7 months of the 12 months preceding assessment date, held permanently located there for tax purposes. 147 Conn. 287. Cited. Id., 308. Discussed in relation to Sec. 12-43; personal property "stationed" in a town for less than 7 months is not taxable under section. 166 Conn. 405. Where plaintiff's computer system was located in town for more than 7 of the 12 months preceding the assessment date but was removed from the state before said date and was only partially owned by plaintiff on assessment date, held that jurisdictional basis for assessment has been provided by advantages afforded plaintiff by town during time property was in town and statute is constitutionally unassailable. 26 CS 201. Computer installations within state do not constitute "establishments" within meaning of statute; leasing activities do not constitute "transacting business" in Connecticut. 29 CS 129. Cited. 30 CS 318.