Form Ct-1120gb - Green Buildings Tax Credit - Connecticut Department Of Revenue - 2014
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1
2Department of Revenue Services
2014
Form CT-1120GB
State of Connecticut
(Rev. 12/14)
Green Buildings Tax Credit
For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ .
Corporation name
Connecticut Tax Registration Number
1.
Is a mixed-use development;
Complete this form in blue or black ink only.
2.
Is located in a brownfi eld or enterprise zone;
Complete Form CT-1120GB, Green Building Tax Credit, to claim
3.
Does not require a sewer extension of more than 1/8 mile; or
the credit allowed under Conn. Gen. Stat. §12-217mm for eligible
construction, renovation, or rehabilitation projects. This form must
4.
Is located within 1/4 mile walking distance of bus transit, rail,
light rail, streetcar, or ferry services.
be used to claim the tax credit available against the tax imposed
under Chapter 208 (corporation business tax) of the Connecticut
Carryforward/Carryback
General Statutes.
Excess tax credit may be carried forward for up to fi ve income years.
This credit is administered by the Department of Energy and
No carryback is allowed.
Environmental Protection (DEEP). To be eligible to claim this credit,
Defi nitions
an application must have been submitted to and approved by DEEP.
Allowable costs means amounts chargeable to a capital account
A taxpayer allowed this tax credit may assign the tax credit to another
that are paid for:
taxpayer or taxpayers. A project owner, including a non-profi t entity,
1.
Construction or rehabilitation costs;
may transfer a tax credit to a pass-through partner in return for a
2.
Commissioning costs;
lump sum cash payment.
3.
Architectural and engineering fees;
Credit Computation
4.
Site costs (e.g. temporary electric wiring, scaffolding, demolition,
The tax credit is equal to the allowable costs multiplied by the
fencing, security); and
applicable tax credit percentage. A taxpayer may claim only 25%
5.
Carpeting, partitions, walls, wall coverings, ceilings, lighting,
of the total amount of allowable costs in any year. The tax credit
plumbing, electric wiring, mechanical, heating, cooling,
percentage depends on the certifi cation level of the project, as
ventilation.
follows:
Purchases of land, remediation costs, and the costs of telephone
Type of Eligible
Tax Credit
LEED Green
systems or computers are not allowable costs.
Project
Building Rating
Percentage
Eligible project means a real estate development project, or a
Gold
8%
New Construction or Major
building within a real estate development project, that is designed
Renovation
Platinum
10.5%
to meet the applicable LEED Green Building Rating System gold
Gold
5%
certifi cation or other equivalent certifi cation, as determined by DEEP.
Core and Shell or
Commercial Interior Projects
Platinum
7%
Additional Information
See the Guide to Connecticut Business Tax Credits available on the
The total tax credits claimed may not exceed the amount of the tax
Department of Revenue Services (DRS) website at ,
credit voucher issued by DEEP.
or contact DEEP, Ten Franklin Square, New Britain, CT 06051,
The tax credit percentage increases by 0.5% if the eligible project
860-418-6441.
meets any one of the following requirements:
Part I - Credit Computation
The Green Building tax credit is being claimed by:
Project owner
Assignee
If credit is being claimed by an assignee, enter the name and Connecticut Tax Registration Number (if available) of the assignor below.
______________________________________________
_______________________________________________
Assignor’s name
Assignor’s Connecticut Tax Registration Number
1. Enter the Initial Tax Credit Voucher Number issued by the Commissioner of DEEP.
1.
Enter the allowable costs incurred during, or prior to, the 2013 Income Year.
2.
2.
Do not exceed the maximum amount approved.
00
Enter the allowable costs incurred during the 2014 Income Year.
3.
3.
Do not exceed the maximum amount approved.
00
4. Add Line 2 and Line 3.
4.
00
.
5. Enter Tax Credit Percentage (see Credit Computation above).
5.
6. Multiply Line 4 by Line 5.
6.
00
7. Tax Credit: Multiply Line 6 by 25%. Enter here and on Form CT-1120K, Part I-C, Column B
7.
00
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