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Department of Revenue Services

2014

Form CT-1120DL

State of Connecticut

(Rev. 12/14)

Donation of Land Tax Credit

For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ .

Corporation name

Connecticut Tax Registration Number

Complete this form in blue or black ink only.

Applicable to Credits Claimed in Income Year 2014

Use Form CT-1120DL to claim the credit allowed under Conn.

Any remaining tax credit balance that exceeds the tax credit

Gen. Stat. §12-217dd for the donation of open space land,

applied may be carried forward for 25 succeeding income

and to carry forward and utilize any remaining credit allowed

years. No carryback is allowed.

under Conn. Gen. Stat. §12-217ff for the donation of land

Deﬁ nitions

for educational use in prior income years. Attach this form to

Donation of open space land means the value of any land

Form CT-1120K, Business Tax Credit Summary.

conveyed without ﬁ nancial consideration, or the value of any

Credit Computation

discount of the sale price in any sale of land or any interest

in land, to the state, a political subdivision of the state, or a

Beginning in Income Year 2013, the donation of land for

nonproﬁ t land conservation organization, where the land is to

educational use tax credit has been incorporated into

be permanently preserved as protected open space or used

the donation of open space land tax credit. Accordingly,

as a public water supply source.

donations of land for educational use in income year 2014

should be included in Part I as applicable.

Donation of land for educational use means the value

of any land or interest in land conveyed without ﬁ nancial

A tax credit is allowed against the tax imposed under Conn.

consideration, or the value of any discount of the sale price

Gen. Stat. §12-217 in an amount equal to 50% of any

in any sale of land or interest in land, to any town, city, or

donation of open space land or land for educational use. In

borough, whether consolidated or unconsolidated, and any

order to qualify for the credit, the land must be donated for

school district or regional school district for the purposes of

educational use, permanently preserved as protected open

schools and related facilities.

space, or used as a public water supply source

Use value means the fair market value of land at its highest

and best use, as determined by a certified real estate

For purposes of calculating the credit, the amount of donation

appraiser.

shall be based on the difference between the use value of the

donated land and the amount received for the land.

Additional Information

Carryforward/Carryback

See the Guide to Connecticut Business Tax Credits

available on the Department of Revenue Services

Applicable to Credits Claimed Prior to Income Year 2014

(DRS) website at , or contact DRS at

Any remaining donation of open space land tax credit balance

1-800-382-9463 (Connecticut calls outside the Greater

that exceeded the tax credit applied may be carried forward

Hartford calling area only) or 860-297-5962 (from

for 25 succeeding income years.

anywhere).

Any remaining donation of land for educational use tax credit

balance that exceeded the tax credit applied may be carried

forward for 15 succeeding income years.

Part I - Credit Computation

1. Enter the value of any donation of open space land or donation of land for educational use.

2. Tax credit: Multiply Line 1 by 50% (.50). Enter the result here on Form CT-1120K, Part I-C, Column B.

Form Ct-1120dl - Donation Of Land Tax Credit - Connecticut Department Of Revenue - 2014

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