Form Ct-1120hs - Historic Structures Rehabilitation Tax Credit

Department of Revenue Services

2015

Form CT-1120HS

State of Connecticut

(Rev. 12/15)

Historic Structures Rehabilitation Tax Credit

For Income Year Beginning: _______________________ , 2015 and Ending: ________________________ , _________ .

Name of eligible taxpayer

Connecticut Tax Registration Number

General Information

Any owner allowed this tax credit may assign the credit to any

individual or entity. An assignee must claim the credit in the

Complete this form in blue or black ink only.

same year that the assignor would have been eligible to claim

Use Form CT-1120HS to claim the Historic Structures

the credit. An assignee may not further assign the tax credit.

Rehabilitation tax credit available under Conn. Gen. Stat.

§10-416a to owners rehabilitating certiﬁ ed historic structures

Credit Computation

for residential use. Attach it to Form CT-1120K, Business Tax

Prior to any rehabilitation work taking place, the owner must

Credit Summary and/or CT-207K, Insurance/Health Care Tax

submit a rehabilitation plan to DECD along with an estimate of

Credit Schedule.

the qualiﬁ ed expenditures. DECD will certify the plan and reserve

The Historic Structures Rehabilitation tax credit is administered

credits equal to 25% of the projected expenditures, not to exceed

by the Department of Economic and Community Development

$2.7 million. Upon completion of the project, DECD veriﬁ es the

(DECD). The credit may only be claimed if a tax credit voucher

owner’s compliance with the rehabilitation plan and issues a

has been issued by DECD.

credit voucher to the owner rehabilitating the certiﬁ ed historic

structure or to the taxpayer named by the owner as contributing

This credit may be applied against the taxes administered under

to the rehabilitation.

Chapters 207 (insurance companies and health care centers

taxes), 208 (corporation business tax), 209 (air carriers tax), 210

Carryforward/Carryback

(railroad companies tax), 211 (community antenna television

Any remaining credit balance that exceeds the credit applied

systems tax), or 212 (utility companies tax) of the Connecticut

may be carried forward for ﬁ ve income years. No carryback is

General Statutes. The tax credit may be claimed in the year in

allowed.

which the substantially rehabilitated certiﬁ ed historic structure is

placed in service. In the case of projects completed in phases,

Additional Information

the tax credit shall be prorated to the substantially rehabilitated

See the Guide to Connecticut Business Tax Credits available

identiﬁ able portion of the building placed in service.

on the Department of Revenue Services (DRS) website

at , or contact DRS at 1-800-382-9463

(Connecticut calls outside the Greater Hartford calling area only)

or 860-297-5962 (from anywhere).

Part I - Credit Computation

The Historic Structures Rehabilitation tax credit is being claimed by:

 





 

An owner

An assignee

A taxpayer named by owner as contributing to the rehabilitation

If credit is being claimed by an assignee, enter the name and Connecticut Tax Registration Number (if available) of the assignor

below. Attach explanation.

________________________________________________

______________________________________________

Assignor’s name

Assignor’s Connecticut Tax Registration Number

Tax credit: Enter the amount of Historic Structures Rehabilitation tax credit as listed on

DECD

the voucher issued by

for the 2015 income year. Enter here and on Form CT-1120K,

Part I-C, Column B or Form CT-207K, Part 1C, Column B.

Form Ct-1120hs - Historic Structures Rehabilitation Tax Credit - 2015

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