Looking for a Ct Tax Forms And Templates? Download it for free!

credit computed on Form CT-1120 HPC, Housing

Part I-D — Electronic Data Processing Equipment

Enter the name of the tax to which the tax credit is

Program Contribution Tax Credit. Any remaining

Property Tax Credit

being applied. For each tax, attach a duplicate Form

balance may be carried back to the ﬁ ve immediately

CT-1120K and applicable tax credit forms. If applying

Enter in Column A the amount of tax credit carried

preceding income years. If claiming a tax credit

tax credits to more than one tax other than corporation

forward from previous income years. Enter in

carryforward, also complete Part I-C, Line 16. See

business tax, attach supplemental copies of Part III to

Column B the amount of tax credit claimed in the

Part I-C, Line 16 instructions.

Form CT-1120K

current income year. Enter in Column C the amount

applied to the corporation business tax. The amount

Use Form CT-207K, Insurance/Health Care Tax Credit

Part I-B — Tax Credits Without Carryback or

in Column C cannot exceed the amount in Part II,

Schedule, to claim tax credits against the:

Carryforward Provisions

Line 7. Enter in Column D any amount applied to

• Domestic and foreign insurance premiums tax under

Enter in Column A the credit amounts claimed in the

taxes other than the corporation business tax. Enter

Chapter 207;

current income year.

in Column E the tax credit carryforward amount.

• Health care centers tax under Chapter 207; and

Enter in Column B the amount actually applied to the

The Electronic Data Processing Equipment Property

• Hospital and medical services tax under Chapter 207.

corporation business tax. The total of Column B cannot

tax credit may be applied only after all other tax

Use Schedule CT-IT Credit, Income Tax Credit

exceed the amount in Part II, Line 3.

credits have been applied and must be applied ﬁ rst

Summary, to claim tax credits against the:

Enter in Column C the amount applied to taxes

to the corporation business tax and then to any other

• Income tax under Chapter 229, not including the tax

other than the corporation business tax. The total of

applicable taxes.

under Conn. Gen. Stat. §12-207.

Column C cannot exceed the amount in Part III,

Part II — Tax Credits Applied to the Corporation

Line 3.

Business Tax

Part I-C — Tax Credits With Carryforward Provisions

If the corporation is ﬁ ling a combined return, complete

Part I-C enables a corporation to account for any tax

Form CT-1120CR, Combined Corporation Business

credits with carryforward provisions. This section also

Tax Return, Schedule KC, and do not complete this

identiﬁ es any amounts of Research and Development

part.

or Research and Experimental Expenditures tax

This section enables a corporation to apply its tax

credits exchanged with the state for a credit refund.

credits in the order required by Conn. Gen. Stat.

Enter in Column A the tax credit carryforward amount

§12-217aa. This section also limits the amount of

from previous income years. Enter in Column B the

tax credits that may be applied to the corporation

tax credit amount claimed for the current income year.

business tax.

Enter in Column C the tax credit amount applied to

Part III — Tax Credits Applied to Taxes Other Than

the corporation business tax for the current income

Corporation Business Tax

year. Enter in Column D the tax credit amount applied

to taxes other than the corporation business tax,

Part III enables a corporation to account for any tax

if applicable, in the current income year or the

credits applied to the following other taxes:

amount of Research and Development or Research

• Unrelated business income tax under Chapter 208a;

and Experimental Expenditures tax credits exchanged

• Air carrier tax under Chapter 209;

with the state for a tax credit refund. Enter in Column E

• Railroad companies tax under Chapter 210;

the tax credit carryforward amount.

• Cable and community antenna television system

Line 16 - If claiming the Housing Program Contribution

companies tax under Chapter 211;

tax credit, Part I-A, Line 2, must be completed ﬁ rst.

• Utility companies tax under Chapter 212;

Enter the applicable tax credit amounts in the spaces

• Public service companies tax under Chapter 212a;

provided.

and

• Surplus lines brokers tax under Chapter 701d.

Form CT-1120K (Rev. 12/14)

Page 6 of 6

Form Ct-1120k - Business Tax Credit Summary - Connecticut Department Of Revenue - 2014 Page 6

Related Articles

Related forms

Related Categories