Form Ct-502 - Temporary Deferral Refundable Payout Credit - 2012 Page 2
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1
2Instructions
Page 2 of 2 CT-502 (2012)
years beginning on or after January 1, 2013, use Form CT-502
General information
to claim the temporary deferral refundable payout credit.
Temporary deferral of certain tax credits
For tax years beginning on or after January 1, 2010, and before
Line instructions
January 1, 2013, if the total amount of certain credits that you
may use to reduce your tax or have refunded to you is greater
Refundable credits deferred
than $2 million, the excess over $2 million must be deferred
Column B – For each credit listed in column A, enter the amount
to, and used or refunded in, tax years beginning on or after
of that credit (if any) from your 2010 Form CT-500, Schedule B,
January 1, 2013. For more information about the credit deferral,
column D.
see Form CT-500, Corporation Tax Credit Deferral. If you are
Column C – For each credit listed in column A, enter the amount
subject to the credit deferral, you must complete all credit forms
of that credit (if any) from your 2011 Form CT-500, Schedule B,
without regard to the deferral. However, the credit amount that
column D.
you transfer to your tax return to be applied against your tax due
or to be refunded to you may be reduced. Follow the instructions
Column D – For each credit listed in column A, enter the amount
for Form CT-500 to determine the amounts to enter on your tax
of that credit (if any) from your 2012 Form CT-500, Schedule B,
return.
column D.
Purpose of Form CT-502
Line 2 – Temporary deferral refundable payout credit
Form CT-502 is used to accumulate your refundable deferred
accumulated
credits. You will need your 2010 (if applicable), 2011 (if
This is the total of your deferred refundable credits for 2012. You
applicable), and 2012 Form(s) CT-500 to complete your 2012
may claim your temporary deferral refundable payout credit for
Form CT-502. For tax years beginning prior to January 1, 2013,
tax years beginning on or after January 1, 2013.
use Form CT-502 to compute your accumulated refundable
deferred credits and arrive at one temporary deferral refundable
payout credit amount. Keep this form with your records; do not
attach it to your return or send it to the Tax Department. For tax
536002120094
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