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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)

Ch.  211 (Community Antenna Television Systems 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 29, 2018