Form Ct-1120sk - S Corporation Business Tax Credit Summary Instructions Sheet (Page 4 of 4) in pdf

Line 2 - Enter any available credit carryforward balance for

balance from 1999 for all of the above credits. Line 15,

Industrial Waste Treatment Facilities. Credits may be carried

Column B, is the amount of carryforward tax credit from 1999

forward for four successive income years. Attach a copy of

allowed to be applied to the 2000 corporation business tax.

the approval letter issued by the DEP or a copy of CERT-124,

Line 15, Column C, is the amount of credit actually applied to

Certificate for Purchases in Connection with Water Pollution

the 2000 S corporation business tax.

Control Facilities, or both.

Line 3 - Enter any available credit carryforward balance for

Part III — Tax Credits Applied to the

Child Day Care Tax Credit. Credits may only be carried forward

S Corporation Business Tax

for five succeeding income years.

This schedule enables an S corporation to apply credits earned

Line 4 - Enter any available credit carryforward balance for

from Part I and Part II against the 2000 S corporation business

the Housing Program Contribution Credit.

tax.

Line 5 - Enter any available credit carryforward balance for

Line 1 - Enter the amount from Form CT-1120S, Schedule C,

Clean Alternative Fuel relating to vehicles, equipment, and filling

Line 1.

or recharging stations under Conn. Gen. Stat. §12-217i.

Line 2 - Enter the amount from Form CT-1120SK, Part I-A,

Line 6 - Enter any available credit carryforward balance for

Line 1, Column B, in both columns. Do not exceed the

the Employer-Assisted Housing Credit.

amount on Line 1 above.

Line 7 - Enter any available credit carryforward balance for

Line 3 - Subtract Line 2, Column A, from Line 1, Column A.

the Electronic Data Processing Equipment Property Tax Credit

Enter the result on Line 3.

from 1999 Form CT-1120 EDPC, Part II, Line 7.

Line 4 - Enter the amount from Form CT-1120SK, Part I-B,

Line 8 - Enter any available credit carryforward balance for

Line 5, Column B, in both columns. Do not exceed the

the Research and Development Credit from 1999 Form

amount on Line 3 above.

CT-1120 RDC, Part III, Line 6. All allowable credits from

prior years must be carried forward and applied before the

Line 5 - Subtract Line 4, Column A, from Line 3, Column A.

current year's credit may be taken.

Enter the result on Line 5.

Line 9 - This carryforward is available to biotechnology

Line 6 - Enter the amount from Form CT-1120SK, Part I-C,

companies only. Enter any available credit carryforward

Line 13, Column B, in both columns. Do not exceed the

balance for the Research and Experimental Expenditures

amount on Line 5 above.

Credit from 1999 Form CT-1120RC, Part II, Line 4.

Line 7 - Subtract Line 6, Column A, from Line 5, Column A.

Line 10 - Enter any available credit carryforward balance

Enter the result on Line 7.

for the Hiring Incentive Tax Credit (formerly Opportunity

Certificate Credit) from 1999 Form CT-1120 OC, Part II,

Line 8 - Enter the amount from Form CT-1120SK, Part II,

Line 4. All allowable credits from prior years must be carried

Line 15, Column B, in both columns. Do not exceed the

forward and applied before the current year's credit may be

amount on Line 7 above.

taken.

Line 9 - Subtract Line 8, Column A, from Line 7, Column A.

Line 11 - Enter any available credit carryforward balance

Enter the result on Line 9.

for the Fixed Capital Investment Credit from 1999

Line 10 - Enter the amount from Form CT-1120SK,

Form CT-1120 FCIC.

Part I-D, Line 27, Column B, in both columns. Do not exceed

Line 12 - Enter any available credit carryforward balance

the amount on Line 9 above.

for the Human Capital Investment Credit from 1999

Line 11 - Subtract Line 10, Column A, from Line 9,

Form CT-1120 HCIC.

Column A. Enter the result on Line 11.

Line 13 - Enter any available credit carryforward balance

Line 12 - Enter the amount from Form CT-1120SK, Part I-E,

for the Insurance Reinvestment Fund Credit from 1999

Line 28, Column B, in both columns. Do not exceed the

Form CT-IRF.

amount on Line 11 above.

Line 14 - Enter any available credit carryforward balance for

Line 13 - Add Lines 2, 4, 6, 8, 10, and 12, Column B. Enter

the Small Business Administration Guaranty Fee Credit.

here and on Form CT-1120S, Schedule C, Line 2, and attach

Line 15 - Add Lines 1 through 14 in Column A, Column B,

2000 Form CT-1120SK, S Corporation Business Tax Credit

and Column C. Enter the totals in the spaces provided.

Summary.

Line 15, Column A, is the S corporation’s credit carryforward

Form CT-1120SK Instructions (Rev. 12/00)

Page 4 of 4

Form Ct-1120sk - S Corporation Business Tax Credit Summary Instructions Sheet Page 4

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