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Department of Revenue Services

2014

Form CT-1120HR

State of Connecticut

(New 12/14)

Historic Rehabilitation Tax Credit

For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ .

Name of eligible taxpayer

Connecticut Tax Registration Number

General Information

the same year that the assignor would have been eligible to

claim the credit. This tax credit may be sold or assigned in

Complete this form in blue or black ink only.

whole or in part not more than three times.

Use Form CT-1120HR to claim the Historic Rehabilitation

tax credit available under 2014 Conn. Pub. Acts 217

165

Credit Computation

for owners rehabilitating certiﬁ ed historic structures. Attach

Prior to any rehabilitation work taking place, the owner must

it to Form CT-1120K, Business Tax Credit Summary and/or

submit a rehabilitation plan to DECD along with an estimate

CT-207K, Insurance/Health Care Tax Credit Schedule.

of the qualiﬁ ed expenditures. The tax credit is equal to the lesser

The Historic Rehabilitation tax credit is administered by the

of 25% of the projected rehabilitation expenditures or 25% of

Department of Economic and Community Development (DECD).

the actual rehabilitation expenditures. If DECD certiﬁ es that the

The credit may only be claimed if a tax credit voucher has been

project creates qualiﬁ ed affordable housing units, then the tax

issued by DECD.

credit is equal to the lesser of 30% of the projected rehabilitation

expenditures or 30% of the actual rehabilitation expenditures.

This credit may be applied against the taxes administered under

Chapters 207 (insurance companies and health care centers

Carryforward/Carryback

taxes), 208 (corporation business tax), 209 (air carriers tax), 210

Any remaining credit balance that exceeds the credit applied

(railroad companies tax), 211 (community antenna television

may be carried forward for ﬁ ve income years. No carryback is

systems tax), or 212 (utility companies tax) of the Connecticut

allowed.

General Statutes. The tax credit may be claimed in the year in

which the substantially rehabilitated certiﬁ ed historic structure is

Additional Information

placed in service. In the case of projects completed in phases,

See the Guide to Connecticut Business Tax Credits available

the tax credit may be prorated to the substantially rehabilitated

on the Department of Revenue Services (DRS) website

identiﬁ able portion of the building placed in service.

at , or contact DRS at 1-800-382-9463

Any owner allowed this tax credit may assign the credit to

(Connecticut calls outside the Greater Hartford calling area only)

any individual or entity. An assignee must claim the credit in

or 860-297-5962 (from anywhere).

Part I - Credit Computation

The Historic Rehabilitation tax credit is being claimed by:

 





 

An owner

An assignee

A taxpayer designated as a partner or member of an owner

If credit is being claimed by an assignee, enter the name and Connecticut Tax Registration Number (if available) of the assignor

below. Attach a copy of the written notice provided to DECD of the transfer.

Investor/Assignor’s Name

Investor/Assignor’s Connecticut Tax Registration Number

Initial investor

Second assignor

Third assignor

Tax credit: Enter the amount of Historic Rehabilitation tax credit as listed on the voucher issued by

DECD

for the 2014 income year. Enter here and on Form CT-1120K, Part I-C, Column B or

Form CT-207K, Part 1C, Column B .

2. Total Historic Rehabilitation tax credit applied to 2014: Enter amount here and on

Form CT-1120K, Part I-C, Column C or Form CT-207K, Part 1C, Column C.

3. Total Historic Rehabilitation tax credit carried forward to 2015: Subtract Line 2 from

Line 1. Enter amount here and on Form CT-1120K, Part I-C, Column E or Form CT-207K,

Part 1C, Column D.

Form Ct-1120hr - Historic Rehabilitation Tax Credit - Connecticut Department Of Revenue - 2014

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