Form Ct-1120sf - Service Facility Tax Credit - 2015
ADVERTISEMENT
1
2Department of Revenue Services
2015
Form CT-1120SF
State of Connecticut
Service Facility 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.
Use Form CT-1120SF, to claim the credit allocable to a service facility
located outside of an Enterprise Zone in a targeted investment community,
the property, entitlement to the credit terminates and there is no pro-rata
as allowed under Conn. Gen. Stat. §12-217e against the corporation
application of the credit during the income year in which the entitlement
business tax. Attach it to Form CT-1120K, Business Tax Credit Summary.
or occupancy terminates.
A service facility located in an Enterprise Zone cannot qualify for this
No carryforward or carryback is allowed.
credit.
Additional Information
This credit is administered by the Department of Economic and
Number of New
Community Development (DECD). To be eligible for this credit, a
Credit
Employees Working
written application must have been submitted to and approved by the
Percentage
at the Service Facility
Commissioner of DECD. See Conn. Gen. Stat. §32-9r.
300-599
15%
Credit Percentages
600-899
20%
There are six different credit percentages as provided in the following
900-1,199
25%
chart, to be applied against the portion of the Connecticut corporation
1,200-1,499
30%
business tax that is allocable to the service facility. The percentage varies
1,500-1,999
40%
depending on the number of new employees working at the service facility,
2,000 or more
50%
as determined on Schedule A, Line 5.
See the Guide to Connecticut Business Tax Credits available
The credit period is ten years and begins with the fi rst full income year
on the Department of Revenue Services (DRS) website at
following the year of issuance of the eligibility certifi cate and continues for
w w w. c t . g o v / d r s , o r c o n t a c t D E C D , 5 0 5 H u d s o n S t r e e t ,
the following nine income years. If within the ten year period the facility
Hartford CT 06106, 860-270-8143.
ceases to qualify as a service facility or the taxpayer ceases to occupy
Schedule A - Employment Criteria
Enter the highest number of employees in Connecticut in the year preceding the formal application for
1.
1.
certifi cation with DECD.
2. Enter the number of employees in Connecticut during 2015.
2.
Enter the number of new employees in Connecticut. Subtract Line 1 from Line 2. If zero or less the
3.
3.
corporation is not eligible for this credit.
4. Enter the number of employees working at the service facility during 2015.
4.
5. Number of new employees working at the service facility: Enter the lesser of Line 3 or Line 4.
5.
Schedule B - Credit Computation
Column A
Column B
Column C
See instructions for the computation of tangible property
Eligible Facility
Total Facilities
and wages, salaries, and other compensation on
Approved by DECD
Within Connecticut
Page 2.
(Including Eligible Facility)
1a. Depreciable assets
1b. Land
Tangible
For Line 1 and Line 2, divide
Property
1c. Capitalized rent
Average monthly
Column A by Column B.
net book value
Carry to six decimal places
1d. Other
1.
Total
1.
.
Wages, Salaries, and
.
2.
Total
2.
Other Compensation
3.
Total: Add Line 1 and Line 2 in Column C.
3.
Facility
Credit
.
4.
Facility ratio: Divide Line 3 by two.
4.
Ratio
5.
Tax from Form CT-1120, Schedule C, Line 1, Total Tax.
5.
6.
Balance: Multiply Line 5 by Line 4.
6.
Tax Credit
7.
Tax credit percentage: See instructions.
7.
Calculation
Tax credit: Multiply Line 6 by Line 7. Enter here and on Form CT-1120K,
8.
8.
Part I-B, Column A.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial