Form Ct-47 - Claim For Farmers' School Tax Credit - 2014 Page 2
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2Page 2 of 2 CT-47 (2014)
Part 2 – Computation of credit
(continued)
20 Recapture of farmers’ school tax credit
..........................................................
20
(from line 33, column E)
21 Credit available after recapture
................................................................................
21
(see instructions)
22 Tax due before credits (
.............................................
22
see instructions)
23 Enter any other credits applied before this credit for this tax
period
.................................................................
23
(see instructions)
24 Net tax
...................................................
24
(subtract line 23 from line 22)
25 Minimum tax limitation
(enter the amount from Form CT-3, line 81, or
.......................................................................
25
Form CT-3-A, line 80)
26 Farmers’ school tax credit limitation
(subtract line 25 from
.............................................
26
line 24; if the result is negative, enter 0)
27 Credit used
...............................................................................................................
27
(see instructions)
28 Unused credit
..........................................................................................
28
(subtract line 27 from line 21)
29 Unused credit available to be refunded, credited as an overpayment, or carried forward
...
29
(enter the lesser of line 17 or line 28)
30 Unused credit to be refunded
...................................................................................
30
(see instructions)
31 Unused credit to be credited as an overpayment to next year’s return
...................
31
(see instructions)
32 Unused credit to be carried forward
...........................................
32
(subtract lines 30 and 31 from line 28)
Part 3 – Credit recapture on qualified agricultural property converted to nonqualified use
(see instructions)
A
B
C
D
E
Total acres of qualified
Total acres of qualified
Column A ÷ column B
Total amount of 2012 and
Total credit claimed
agricultural property
agricultural property
in 2012 and 2013
2013 credit to be recaptured
converted to nonqualified use
owned before conversion
(column C × column D;
in 2014
transfer this amount to line 20)
33
453002140094
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