Form Ct-1120k - Business Tax Credit Summary

Line 3 - Enter the Housing Program Contribution tax

Part I-E — Electronic Data Processing Equipment

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

credit computed on Form CT-1120 HPC, Housing

Property Tax Credit

being applied. For each tax, attach a duplicate Form

Program Contribution Tax Credit. Any remaining

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

Enter in Column A the amount of tax credit carried

balance may be carried back to the five immediately

tax credits to more than one tax other than corporation

forward from previous income years. Enter in

preceding income years. If claiming a tax credit

business tax, attach supplemental copies of Part III to

Column B the amount of tax credit claimed in the

carryforward, also complete Part I-D, Line 20. See

Form CT-1120K

current income year. Enter in Column C the amount

Part I-D, Line 20 instructions.

applied to the corporation business tax. The amount

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

in Column C cannot exceed the amount in Part II,

Schedule, to claim tax credits against the:

Part I-C — Tax Credits Without Carryback or

• Domestic and foreign insurance premiums tax under

Line 9. Enter in Column D any amount applied to

Carryforward Provisions

taxes other than the corporation business tax. Enter

Chapter 207;

Enter in Column A the credit amounts claimed in the

in Column E the tax credit carryforward amount.

• Health care centers tax under Chapter 207; and

current income year.

The Electronic Data Processing Equipment Property

• Hospital and medical services tax under Chapter 207.

Enter in Column B the amount actually applied to the

tax credit may be applied only after all other tax

Use Schedule CT-IT Credit, Income Tax Credit

corporation business tax. The total of Column B cannot

credits have been applied and must be applied first

Summary, to claim tax credits against the:

exceed the amount in Part II, Line 5.

to the corporation business tax and then to any other

• Income tax under Chapter 229, not including the tax

Enter in Column C the amount applied to taxes

applicable taxes.

under Conn. Gen. Stat. §12-207.

other than the corporation business tax. The total of

Part II — Tax Credits Applied to the Corporation

Column C cannot exceed the amount in Part III,

Business Tax

Line 3.

If the corporation is filing a combined return, complete

Part I-D — Tax Credits With Carryforward Provisions

Form CT-1120CR, Combined Corporation Business

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

Tax Return, Schedule KC, and do not complete this

credits with carryforward provisions. This section also

part.

identifies any amounts of Research and Development

This section enables a corporation to apply its tax

or Research and Experimental Expenditures tax

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

credits exchanged with the state for a credit refund.

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

Enter in Column A the tax credit carryforward amount

tax credits that may be applied to the corporation

from previous income years. Enter in Column B the

business tax.

tax credit amount claimed for the current income year.

Part III — Tax Credits Applied to Taxes Other Than

Enter in Column C the tax credit amount applied to

Corporation Business Tax

the corporation business tax for the current income

year. Enter in Column D the tax credit amount applied

Part III enables a corporation to account for any tax

to taxes other than the corporation business tax,

credits applied to the following other taxes:

if applicable, in the current income year or the

• Unrelated business income tax under Chapter 208a;

amount of Research and Development or Research

• Air carrier tax under Chapter 209;

and Experimental Expenditures tax credits exchanged

• Railroad companies tax under Chapter 210;

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

• Cable and community antenna television system

the tax credit carryforward amount.

companies tax under Chapter 211;

Line 20 - If claiming the Housing Program Contribution

• Utility companies tax under Chapter 212;

tax credit, Part I-B, Line 3, must be completed first.

• Public service companies tax under Chapter 212a;

Enter the applicable tax credit amounts in the spaces

and

provided.

• Surplus lines brokers tax under Chapter 701d.

Page 5 of 5

Form CT-1120K (Rev. 12/13)

Form Ct-1120k - Business Tax Credit Summary - 2013 Page 5

Related Articles

Related forms

Related Categories