Tax Credit Application Process

Initial Certification

To initiate consideration, a tax credit eligibility application must be submitted with all required documentation.

 

The Eligibility Application will identify the following:

1. the accredited theater production and production company presenting it,
2. the applicant’s relationship to the production or production company
3. the qualified production facility where the production will be performed

 

Please Click Here to complete the Eligibility Application

 

Applications will be reviewed in the order they were received.

Incomplete applications will not be processed.

 

Within 30 days of receiving your Eligibility Application, If approved the applicant will receive an initial certification of qualification notice, which will be shared with the Department of Revenue Services. This notice will identify the maximum amount of tax credits potentially available for the associated qualified theatrical production activity by fiscal year. 

Applicants who do not meet minimum statutory requirements or submit an incomplete application will be notified.

 

Final Certification

To receive the Final Certification a Final Tax Credit Voucher Application must be submitted along with a cost report and a certified public accountant's certification (from the DECD Approved Auditor List) that this report, in the accountant's opinion, is accurate.

 

Please Click Here to Download the Final Voucher Certification Application
 

The Department will review the Application for Tax Credit Certificate, all closing documentation, receipts, and the independent auditor's report for completeness, accuracy, and to confirm the total amount of direct costs. Based on the actual total of direct cost (authorized cost only) as established by the department's review, the Department will issue a Tax Credit Certificate, which will not exceed the amount of tax credits specified in initial certification of qualification notice. 

 

CREDIT CLAIMS AND TRANSFERS

• Applicable Taxes and Eligible Claimants Production companies that receive a final accredited theater production certificate from DECD may claim the credit against the personal income, corporation business, insurance premiums, or utility companies tax, but not the withholding tax. (Withholding tax is income tax paid on a taxpayer’s behalf by qualifying Connecticut employers.)
• If the company is an S corporation or entity treated as a partnership for federal income tax purposes, its shareholders or partners may claim the credit.
• If it is a single member limited liability company (LLC) disregarded as an entity separate from its owner, the LLC’s owners may claim it, as long as the owner is subject to the personal income or corporation business tax. The credit must be claimed for the income or tax year in which it was earned.
• Unused credits may be carried forward for up to three years and may be sold, assigned, or transferred in whole or part