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Department of Revenue Services

2006

State of Connecticut

Form CT-1120 HRC

(Rev. 12/06)

Historic Rehabilitation Credit

For Income Year

Beginning

2006, and Ending

Corporation Name

Connecticut Tax Registration Number

Historic Structure Rehabilitation

Complete Form CT-1120 HRC, Historic Rehabilitation Credit, to

claim the credits allowed under Conn. Gen. Stat. §10-416 and

For income years beginning or or after January 1, 2006, a new tax

2006 Conn. Pub. Acts 186, §82.

Attach it to Form CT-1120K,

credit also administered by CCCT is available to owners

Business Tax Credit Summary.

rehabilitating certified historic structures for residential use.

Prior to any rehabilitation work taking place, the owner must submit

Credit Computation

a rehabilitation plan to CCCT along with an estimate of the

Historic Homes Rehabilitation

qualified expenditures. CCCT will certify the plan and reserve

A tax credit under Conn. Gen. Stat. §10-416 is allowed against the

credits equal to 25% of the projected expenditures. CCCT will

Connecticut corporation business tax in an amount equal to the

certify the plan and reserve credits equal to 25% of the projected

lesser of 30% of projected qualified rehabilitation expenditures

expenditures, not to exceed $2.7 million. Upon completion of the

or 30% of the actual rehabilitation expenditures incurred in the

project, CCCT verifies the owner’s compliance with the

rehabilitation of an historic home. Owners of historic homes must

rehabilitation plan and issues a credit voucher. This tax credit

incur qualified rehabilitation expenditures that exceed $25,000 in

may be assigned.

order to qualify. After the rehabilitation work is performed by the

This credit may be applied against the taxes administered under

owner and verified by the Connecticut Commission on Culture

Chapters 207, 208, 209, 210, 211, or 212 of the Connecticut

and Tourism (CCCT), a tax credit voucher is provided to either the

General Statutes. Any remaining credit balance that exceeds the

owner rehabilitating the historic home or to the taxpayer named by

credit applied may be carried forward for five income years.

the owner as contributing to the rehabilitation. The credit is limited

to $30,000 per dwelling unit.

Additional Information

This credit may be applied against the taxes administered under

See Informational Publication 2006(15), Guide to Connecticut

Chapters 207, 208, 209, 210, 211, or 212 of the Connecticut

Business Tax Credits, or contact the Department of Revenue

General Statutes. Any remaining credit balance that exceeds the

Services, Taxpayer Services Division at 1-800-382-9463

credit applied may be carried forward for four income years.

(Connecticut calls outside the Greater Hartford calling area only)

or 860-297-5962 (from anywhere).

Complete this form in blue or black ink only.

PART I - Credit Computation

The Historic Structure Rehabilitation Credit was received by:

Investment

Assignment

Partly by investment and partly by assignment

If available credit was received by assignment, enter the name and Connecticut Taxpayer Identification Number of the assignor

below. (Attach explanation.)

__________________________________________________

____________________________________________

Assignor’s Name

Assignor’s Connecticut Tax Registration Number

Enter the total amount of Historic Homes Rehabilitation tax credit as listed on the voucher issued

by CCCT for the 2006 income year.

Enter the amount of Historic Structure Rehabilitation tax credit as listed on the voucher issued

by CCCT for the 2006 income year.

Total Historic Rehabilitation Credits (Add Line 1 and Line 2.) Enter here and on

Form CT-1120K, Part I-D, Line 26, Column B.

Form Ct-1120 Hrc - Historic Rehabilitation Credit From - Department Of Revenue Services - Connecticut

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