Form Ct-1120 Sbj - Qualified Small Business Job Creation Tax Credit - 2013
ADVERTISEMENT
1Department of Revenue Services
2013
State of Connecticut
Form CT-1120 SBJ
(Rev. 12/13)
Qualified Small Business Job Creation Tax Credit
For Income Year Beginning: _______________________ , 2013 and Ending: ________________________ , _________ .
Name of corporation or business entity
Connecticut Tax Registration Number
Credit Computation
Complete this form in blue or black ink only.
A qualified small business may earn a tax credit equal to $200 per
Use Form CT-1120 SBJ to claim the credit allowed under Conn.
Gen. Stat. §12-217nn. This form must be used to claim the tax
month for hiring a Connecticut resident. The new employee must
be hired to fill a full-time job during the income years beginning
credit against the taxes imposed under Chapter 207 (insurance
premiums tax; health care centers tax), Chapter 208 (corporation
on or after January 1, 2010, and before January 1, 2013. The tax
business tax), or Chapter 229 (income tax) of the Connecticut
credit can be claimed in the income year of the hire and the next two
income years. No qualified small business may claim a tax credit
General Statutes.
for a new employee who is an owner, member, or partner in the
Definitions
business or who is not employed at the close of the income year of
the qualified small business.
Full-time job means a job in which an employee is required to
work at least 35 or more hours per week for not less than 48 weeks
To be eligible to claim this credit an application must be submitted
in a calendar year. Full-time job does not include temporary or
to and approved by the Department of Economic and Community
seasonal work.
Development (DECD).
Qualified small business means an employer who employs less
Additional Information
than 50 employees in Connecticut and is subject to tax under Conn.
Contact DECD, Office of Business & Industry Development, 505
Gen. Stat. Chapters 207, 208, or 229.
Hudson Street, Hartford, CT 06106, 860-270-8215; see the Guide
New employee means a person hired after May 6, 2010, by a
to Connecticut Business Tax Credits available on the Department
qualified small business. It does not include a person who was
of Revenue Services (DRS) website at or contact
employed in Connecticut by a person related to the qualified small
DRS at 1-800-382-9463 (Connecticut calls outside the Greater
business during the prior 12 months.
Hartford calling area only) or 860-297-5962 (from anywhere).
Credit Computation
If additional lines are needed, attach a worksheet. See instructions below.
E
A
B
C
D
F
Number of Full
Employee
Check if
Date
Column E Multiplied
Qualifying Employee Name
Calendar Months
Social Security Number
Resident of
of
by
$200
Employed in 2013
Connecticut
Hire
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Tax credit: Add Lines 1 through 10, Column F. Enter here and on Form CT-1120K, Part I-C, Column A
11.
and/or Form CT-207K, Part 1-B, Column B. See instructions.
Line Instructions
Lines 1 through 10 - Enter corresponding amounts.
Line 11 - If filing Form CT-1065/CT-1120SI, allocate the amount on Line 11 among members in Part VII, Line 1. If filing Form CT-1041, enter
the amount on Line 11, on Worksheet B, Line 7. If you are a sole proprietorship or a single member limited liability company that is disregarded
as an entity separate from its owner and subject to the provisions of Chapter 229 of the Connecticut General Statutes, enter the amount from
Line 11, on Schedule CT-IT Credit, Line 2, Column C.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial