DRS: Credit Chart 25JAN2017

 
Connecticut Business Tax Credit Chart

  

  

   Credit Name

Statutory
Authority

 

Credit May be Applied Against Tax Imposed Under Conn. Gen. Stat.

 

Additional Notes


Apprenticeship Training Tax Credit in Manufacturing, Plastics, Plastics-Related, Or Construction Trades


12-217g


Ch. 208 (Corporation Business Tax)

 

Ch. 212 (Utility Companies Tax)

 

Ch. 227 (Petroleum Products Gross Earnings Tax)

 

 

Pass-through entities may earn the tax credit for manufacturing trades apprenticeships and assign it. 

 

 


Digital Animation Tax Credit


12-217ll


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 


Assignable


Donation of Land Tax Credit


12-217dd


Ch. 208 (Corporation Business Tax)

 


Electronic Data Processing

Equipment Property Tax Credit


 

12-217t


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 208a (Unrelated Business Taxable Income Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 

 

Assignable to an affiliate for purposes of credits applied against the taxes imposed under Ch. 207 only.


Enterprise Zone Tax Credit for Qualifying Corporations


12-217v


Ch. 208 (Corporation Business Tax)

 

 


Film Production Infrastructure

Tax Credit


12-217kk


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 


Assignable


Film Production Tax Credit


12-217jj


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 


Assignable with certain limits

 


Fixed Capital Investment Tax Credit


12-217w


Ch. 208 (Corporation Business Tax)

 

 


Green Buildings Tax Credit


12-217mm


Ch. 208 (Corporation Business Tax)

 

 

Assignable

 


Historic Homes Rehabilitation
Tax Credit


10-416


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 


Assignable to an affiliate for purposes of credits applied against the taxes imposed under Ch. 207 only.


Historic Preservation Tax Credit


10-416b


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 

 

Assignable

 

Formerly referred to as the Historic Investment Tax Credit

 

DECD will not reserve this credit after June 30, 2014.

 

Historic Rehabilitation Tax Credit

 

 

10-416c


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 

 

Assignable


Historic Structures Rehabilitation Tax Credit

 


10-416a


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 


Assignable

 

DECD will not reserve this credit after June 30, 2014.


Housing Program Contribution Tax Credit

 


8-395


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 

 

Assignable to an affiliate for purposes of credits applied against the taxes imposed under Ch. 207 only.


Human Capital Investment Tax Credit

 


12-217x


Ch. 208 (Corporation Business Tax)

 

 


Insurance Reinvestment Fund Tax Credit

 


38a-88a


38a-743 (Surplus Lines Brokers Tax)

Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 229 (Income Tax)

 

 

Assignable


Machinery and Equipment Expenditure Tax Credit

 


12-217o


Ch. 208 (Corporation Business Tax)

 

 


Neighborhood Assistance Act Program Tax Credit


12-631 through 12-638


Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 212 (Utility Companies Tax)

 

 

Credit can be earned by an entity subject to Business Entity tax imposed under Ch.213a but cannot be applied against tax imposed under Ch.213a.

 

Assignable to an affiliate for purposes of credits applied against the taxes imposed under Ch. 207 only.


New Jobs Creation Tax Credit


12-217ii


12-202 (Domestic Insurance Companies Tax)

 

12-210 (Nonresident and Foreign Insurance Companies Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 212 (Utility Companies Tax)

 

 

Credit may not be applied against tax imposed under 12-202a.

 

DECD will not issue eligibility certificates after December 31, 2011.

 

Assignable to an affiliate for purposes of credits applied against the taxes imposed under Ch. 207 only.

 


Research and Development (Nonincremental) Expenses Tax Credit

 


12-217n


Ch. 208 (Corporation Business Tax)

 


Exchangeable


Research and Experimental (Incremental) Expenditures Tax Credit

 


12-217j


Ch. 208 (Corporation Business Tax)

 


Exchangeable


Second Insurance Reinvestment Fund Tax Credit

 


38a-88a


38a-743 (Surplus Lines Brokers Tax)

 

Ch. 207 (Insurance Companies and Health Care Centers Tax)

 


Assignable only to an affiliate


Service and Manufacturing Facilities Tax Credit

 


12-217e


Ch. 208 (Corporation Business Tax)

 

 

 

Small Business Guaranty Fee Tax Credit


12-217cc


Ch. 208 (Corporation Business Tax)

 

 

Credit is not available for income years beginning on or after January 1, 2014.

 

 

Urban and Industrial Site Reinvestment Tax Credit


32-9t

 

38a-743 (Surplus Lines Brokers Tax)

 

Ch. 207 (Insurance Companies and Health Care Centers Tax)

 

Ch. 208 (Corporation Business Tax)

 

Ch. 208a (Unrelated Business Taxable Income Tax)

 

Ch. 209 (Air Carriers Tax)

 

Ch. 210 (Railroad Companies Tax)

 

Ch. 211 (Community Antenna Television Systems Tax)

 

Ch. 211a (Hospitals Tax)

 

Ch.211b (Dry Cleaning Tax)

 

Ch. 212 (Utility Companies Tax)

 

Ch. 212a (Public Service Companies Tax)

 


Assignable


 

Last updated January 25, 2017