Schedule Ct K-1 - Member'S Share Of Certain Connecticut Items

Part IV - Connecticut Income Tax Credit Summary

Column A

Column B

Total credit earned by

Credit allowed on behalf

member in 2014 (from

of member on composite

return (amounts from

Form CT-1065/CT-1120SI,

worksheet below)

Part VII)

1. Qualiﬁ ed small business tax credit ............................................................................................ 1.



2. Job expansion tax credit ........................................................................................................... 2.



3. Angel investor tax credit ........................................................................................................... 3.



4. Insurance reinvestment fund tax credit .................................................................................... 4.



5. Total credits: Add Lines 1 through 4. ......................................................................................... 5.

Income Tax Credit Worksheet

Column A

Column B

Column C

Completed for

Tax credit limitation

2014 credit amount

Amount of credit

nonresident, noncorporate, and PE

earned (enter amounts

applied to 2014

members only.

from Part IV, Column A)

income tax liability

1. Income tax liability: PE should enter member’s amount from Form

CT-1065/CT-1120SI, Part I, Schedule B, Column D. ....................... 1.

2. Qualiﬁ ed small business tax credit: Enter in Column C the lesser

of Line 2, Column B, or Line 1, Column A. ...................................... 2.

3. Balance of income tax liability: Subtract Line 2, Column C from

Line 1, Column A. If less than zero, enter “0.” ................................. 3.

4. Job expansion tax credit: Enter in Column C

the lesser of Line 4, Column B, or Line 3, Column A. ...................... 4.

5. Balance of income tax liability: Subtract Line 4, Column C from

Line 3, Column A. If less than zero, enter “0.” ................................. 5.

6. Angel investor tax credit: Enter in Column C the lesser of

Line 6, Column B, or Line 5, Column A. .......................................... 6.

7. Balance of income tax liability: Subtract Line 6, Column C from

Line 5, Column A. If less than zero, enter “0.” ................................. 7.

8. Insurance reinvestment fund tax credit: Enter in Column C the

lesser of Line 8, Column B, or Line 7, Column A. ............................ 8.

Schedule CT K-1 (Rev. 12/14)

Page 2 of 4

Schedule Ct K-1 - Member'S Share Of Certain Connecticut Items - 2014 Page 2

Related Articles

Related forms

Related Categories