Form Ct-1120sf - Service Facility Tax Credit - Connecticut Department Of Revenue - 2014
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1
2Department of Revenue Services
2014
Form CT-1120SF
State of Connecticut
Service Facility Tax Credit
(Rev. 12/14)
For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ .
Corporation name
Connecticut Tax Registration Number
DECD Eligibility Certifi cate Number (If applicable)
Complete this form in blue or black ink only.
Use Form CT-1120SF, to claim the credit allocable to a service
facility located outside of an Enterprise Zone in a targeted investment
ceases to qualify as a service facility or the taxpayer ceases to occupy
community, as allowed under Conn. Gen. Stat. §12-217e against the
the property, entitlement to the credit terminates and there is no pro-rata
corporation business tax. Attach it to Form CT-1120K, Business Tax
application of the credit during the income year in which the entitlement
Credit Summary.
or occupancy terminates.
A service facility located in an Enterprise Zone cannot qualify for this
No carryforward or carryback is allowed.
credit.
Number of New
This credit is administered by the Department of Economic and Community
Credit
Employees Working
Development (DECD). To be eligible for this credit, a written application
Percentage
at the Service Facility
must have been submitted to and approved by the Commissioner of
DECD. See Conn. Gen. Stat. §32-9r.
300-599
15%
600-899
20%
Credit Percentages
900-1,199
25%
There are six different credit percentages as provided in the following
1,200-1,499
30%
chart, to be applied against the portion of the Connecticut corporation
1,500-1,999
40%
business tax that is allocable to the service facility. The percentage varies
2,000 or more
50%
depending on the number of new employees working at the service facility,
Additional Information
as determined on Schedule A, Line 5.
The credit period is ten years and begins with the fi rst full income year
See the Guide to Connecticut Business Tax Credits available
on the Department of Revenue Services (DRS) website at
following the year of issuance of the eligibility certifi cate and continues for
w w w. c t . g o v / d r s , o r c o n t a c t D E C D , 5 0 5 H u d s o n S t r e e t ,
the following nine income years. If within the ten year period the facility
Hartford CT 06106, 860-270-8143.
Schedule A - Employment Criteria
Enter the highest number of employees in Connecticut in the year preceding the formal application for
1.
1.
certifi cation with DECD.
2. Enter the number of employees in Connecticut during 2014.
2.
Enter the number of new employees in Connecticut. Subtract Line 1 from Line 2. If zero or less the
3.
3.
corporation is not eligible for this credit.
4. Enter the number of employees working at the service facility during 2014.
4.
5. Number of new employees working at the service facility: Enter the lesser of Line 3 or Line 4.
5.
Schedule B - Credit Computation
Column A
Column B
Column C
See instructions for the computation of tangible property
Eligible Facility
Total Facilities
and wages, salaries, and other compensation on
Approved by DECD
Within Connecticut
Page 2.
(Including Eligible Facility)
1a. Depreciable assets
1b. Land
Tangible
For Line 1 and Line 2, divide
Property
1c. Capitalized rent
Average monthly
Column A by Column B.
net book value
Carry to six decimal places
1d. Other
1.
Total
1.
.
Wages, Salaries, and
.
2.
Total
2.
Other Compensation
3.
Total: Add Line 1 and Line 2 in Column C.
3.
Facility
Credit
.
4.
Facility ratio: Divide Line 3 by two.
4.
Ratio
5.
Tax from Form CT-1120, Schedule C, Line 1, Total Tax.
5.
6.
Balance: Multiply Line 5 by Line 4.
6.
Tax Credit
7.
Tax credit percentage: See instructions.
7.
Calculation
Tax credit: Multiply Line 6 by Line 7. Enter here and on Form CT-1120K,
8.
8.
Part I-B, Column A.
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