Form Ct-1120 Rdc - Connecticut Research And Development Expenditures Tax Credit - 2015
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1
2
3Department of Revenue Services
2015
Form CT-1120 RDC
State of Connecticut
Research and Development Expenditures Tax Credit
(Rev. 12/15)
For Income Year Beginning: _______________________ , 2015 and Ending: ________________________ , _________ .
Corporation name
Connecticut Tax Registration Number
DECD Eligibility Certifi cate Number (If applicable)
Complete this form in blue or black ink only.
•
All costs incident to the development of an experimental or pilot
model, a plant process, a product, a formula, an invention, or
Use Form CT-1120 RDC to claim the tax credit available under Conn.
similar property, and the improvement of already existing property
Gen. Stat. §12-217n for research and development expenses paid
of the type mentioned; and
or incurred during the income year for research and development
•
Costs of obtaining a patent, such as attorneys’ fees expended in
conducted in Connecticut.
making and perfecting a patent application.
Required Attachments
Qualifi ed Small Business is defi ned as a company that has gross
income for the previous income year that does not exceed $100
Attach a detailed schedule that identifies the research and
million and has not met the gross income test through transactions
development expenses as to the type, amount, and location in
with a related person, as defi ned in Conn. Gen. Stat. §12-217w.
Connecticut where conducted.
Tentative Tax Credit Computation
Defi nitions
For a qualifi ed small business, the tentative tax credit allowed
Connecticut research and development expenses are those
for research and development expenses is equal to 6% of such
amounts deductible under §174 of the Internal Revenue Code (IRC)
expenses. Any company other than a qualifi ed small business must
of 1986, as in effect on May 28, 1993, (determined without regard
use the tentative rate schedule below to determine the amount of
to §280C(c) thereof), and basic research payments as defi ned
the tentative credit.
under IRC §41, to the extent not deducted under IRC §174. The
expenses must be paid or incurred by the taxpayer for research
The amount of credit available to companies that have revenues in
and development and basic research conducted in Connecticut
excess of $3 billion, employing more than 2,500 employees, and
and may not be funded, within the meaning of IRC §41(d)(4)(H),
headquartered in an Enterprise Zone shall be the tentative credit
by any grant, contract, or otherwise by a person or governmental
allowed or 3.5% of the total research and development expenses,
entity other than the taxpayer unless the other person is included in
whichever is greater. A company that pays or incurs research and
a combined return with the person paying or incurring the expenses.
development expenses in excess of $200 million for the income year
Overhead and other expenses, including general and administrative
must obtain an eligibility certifi cate from the Department of Economic
expenses that relate to a corporation’s activities as a whole and not
and Community Development (DECD) prior to claiming the credit.
specifi cally to the research and development effort will not qualify.
Additional Information
Qualifying expenses may include but are not limited to:
See the Guide to Connecticut Business Tax Credits available on
•
Expenses incurred in connection with the taxpayer’s trade or
the Department of Revenue Services website at ,
business that represent research and development costs in the
or contact DRS at 1-800-382-9463 (Connecticut calls outside the
experimental or laboratory sense;
Greater Hartford calling area only) or 860-297-5962 (from anywhere).
Part I - Tentative Research and Development Expenses Tax Credit Computation
Enter the amount of Connecticut research and development expenses for the 2015 income year. Attach
1.
1.
00
detailed schedule.
Enter the amount of excess Connecticut research and experimental expenditures for the 2015 income year
2.
00
according to Conn. Gen. Stat. §12-217j, from 2015 Form CT-1120RC, Part I, Line 3.
2.
00
3. Net research and development expenses for 2015: Subtract Line 2 from Line 1.
3.
00
4a. Qualifi ed small businesses multiply amount on Line 3 by 6% (.06).
4a.
Companies headquartered in an Enterprise Zone, with revenues in excess of
4b.
$3 billion, employing more than 2,500 employees, may elect to multiply amount
4b.
00
on Line 3 by 3.5% (.035).
All other businesses determine amount from the Tentative Credit Rate Schedule
4c.
4c.
00
on Page 2.
00
4. Tentative credit for 2015: Enter the amount from Line 4a, 4b, or 4c.
4.
00
5. Reduction of tentative tax credit for 2015: Applicable if Line 3 exceeds $200 million and workforce is reduced.
5.
00
6. Allowable tentative tax credit for 2015: Subtract Line 5 from Line 4.
6.
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