Form Ct-1120cr - Instructions For Filling Form (Page 4 of 4) in pdf

Line 3 -

Enter in Column A the amount from Form CT-1120K, Part

Line 10 - For biotechnology companies only, enter in Column A

II, Line 3, Column B. Tax credits earned during income

the amount from Form CT-1120K, Part II, Line 10, Column

years 1993 and 1994 must first be carried back to the five

B. Any unused credit balance can be carried forward and

preceding income years, and then carried

orward to the

applied to each successive income year until the credit is

five succeeding income years. Carryforward provisions

fully taken. The maximum carryforward period is 15 years.

are no longer available for NAA tax credits issued after

January 1, 1995. Beginning with the 1995 income year,

Line 11 - Enter in Column A the amount from Form CT-1120K, Part

be carried back to

NAA tax credits may only

the two

II, Line 11, Column B. Any balance may be carried forward

preceding income years.

to each successive income year for five years, until the

credit is fully taken.

Line 4 -

Enter in Column A the amount from Form CT-1120K, Part

II, Line 4, Column B. Credits may only be carried forward

Line 12 - Add Lines 1 through 11 in Column A, and enter here.

to the five succeeding income years.

Line 12, Column A, is the corporation’s credit carryforward

balance from 1997 for all above credits.

Line 5 -

Enter in Column A the amount from Form CT-1120K, Part

II, Line 5, Column B. Credits must first be carried back to

PART III - TOTAL TAX CREDITS

the five preceding income years, and then be carried

Line 13 - TOTAL TAX CREDITS - Add Part I, Lines 1, 5, 13, 22, 23

forward to the five succeeding income years.

and Part II, line 12. This is your total tax credit available

for 1998 to be applied against the 1998 Connecticut

Line 6 -

Enter in Column A the amount from Form CT-1120K, Part

corporation business tax. Enter this amount in the space

II, Line 6, Column B. Credits may be carried forward for

provided and on Form CT-1120 CR, Page 1, Part IV, Line

three succeeding income years.

5. Any unused credit that has a carryback provision may

be claimed by filing Form CT-1120X.

Line 7 -

Enter in Column A the amount from Form CT-1120K, Part

II, Line 7, Column B. Credits must first be carried back to

the five preceding income years and then be carried

forward to the five succeeding income years.

Line 8 -

Enter in Column A the amount from Form CT-1120K, Part

II, Line 8, Column B.

Line 9 -

Enter in Column A the amount from Form CT-1120K,

Part II, Line 9, Column B. All allowable credits from prior

years must be carried forward and applied before the

current year's credit may be taken. Any balance may be

carried forward to each successive income year until the

credit is fully taken.

CT-1120CR Instructions (Rev. 12/98)

Page 4

Form Ct-1120cr - Instructions For Filling Form Page 4

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