Form Ct-1120 Sbj - Connecticut Qualifi Ed Small Business Job Creation Tax Credit - 2014
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1Department of Revenue Services
2014
State of Connecticut
Form CT-1120 SBJ
(Rev. 12/14 )
Qualifi ed Small Business Job Creation Tax Credit
For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ .
Name of corporation or business entity
Connecticut Tax Registration Number
Complete this form in blue or black ink only.
Credit Computation
Use Form CT-1120 SBJ to claim the credit allowed under Conn.
A qualifi ed small business may earn a tax credit equal to $200 per
Gen. Stat. §12-217nn. This form must be used to claim the tax
month for hiring a Connecticut resident. The new employee must
credit against the taxes imposed under Chapter 207 (insurance
be hired to fi ll a full-time job during the income years beginning
premiums tax; health care centers tax), Chapter 208 (corporation
on or after January 1, 2010, and before January 1, 2013. The tax
business tax), or Chapter 229 (income tax) of the Connecticut
credit can be claimed in the income year of the hire and the next two
General Statutes.
income years. No qualifi ed small business may claim a tax credit
for a new employee who is an owner, member, or partner in the
Defi nitions
business or who is not employed at the close of the income year of
the qualifi ed small business.
Full-time job means a job in which an employee is required to
work at least 35 or more hours per week for not less than 48 weeks
To be eligible to claim this credit an application must be submitted
in a calendar year. Full-time job does not include temporary or
to and approved by the Department of Economic and Community
seasonal work.
Development (DECD).
Qualifi ed small business means an employer who employs less
Additional Information
than 50 employees in Connecticut and is subject to tax under Conn.
Gen. Stat. Chapters 207, 208, or 229.
Contact DECD, Offi ce of Business Development, 505 Hudson
Street, Hartford, CT 06106, 860-270-8215; see the Guide to
New employee means a person hired after May 6, 2010, by a
Connecticut Business Tax Credits available on the Department of
qualifi ed small business. It does not include a person who was
Revenue Services (DRS) website at or contact
employed in Connecticut by a person related to the qualifi ed small
DRS at 1-800-382-9463 (Connecticut calls outside the Greater
business during the prior 12 months.
Hartford calling area only) or 860-297-5962 (from anywhere).
Credit Computation
If additional lines are needed, attach a worksheet. See instructions below.
E
A
B
C
D
F
Number of Full
Employee
Check if
Date
Column E Multiplied
Qualifying Employee Name
Calendar Months
Social Security Number
Resident of
of
by
Employed in 2014
Connecticut
Hire
$200
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Tax credit: Add Lines 1 through 10, Column F. Enter here and on Form CT-1120K, Part I-B, Column A
11.
and/or Form CT-207K, Part 1B, Column B. See instructions.
Line Instructions
Lines 1 through 10 - Enter corresponding amounts.
Line 11 - If fi ling Form CT-1065/CT-1120SI, allocate the amount on Line 11 among members in Part VII, Line 1. If fi ling Form CT-1041, enter
the amount on Line 11, on Worksheet B, Line 7. If you are a sole proprietorship or a single member limited liability company that is disregarded
as an entity separate from its owner and subject to the provisions of Chapter 229 of the Connecticut General Statutes, enter the amount from
Line 11, on Schedule CT-IT Credit, Line 2, Column C.
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