Form Ct-1120 Rdc - Research And Development Expenditures Tax Credit - 2012
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1
2
3Department of Revenue Services
2012
Form CT-1120 RDC
State of Connecticut
Research and Development Expenditures Tax Credit
(Rev. 01/13)
For Income Year Beginning: _______________________ , 2012 and Ending: ________________________ , _________ .
Corporation name
Connecticut Tax Registration Number
DECD Eligibility Certificate Number (If applicable)
•
Complete this form in blue or black ink only.
All costs incident to the development of an experimental or pilot
model, a plant process, a product, a formula, an invention, or similar
Use Form CT-1120 RDC to claim the tax credit available under Conn.
property, and the improvement of already existing property of the
Gen. Stat. §12-217n for research and development expenses paid
type mentioned; and
or incurred during the income year for research and development
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Costs of obtaining a patent, such as attorneys’ fees expended in
conducted in Connecticut.
making and perfecting a patent application.
Required Attachments
Qualified Small Business is defined as a company that has gross
Attach a detailed schedule that identifies the research and development
income for the previous income year that does not exceed $100 million
and has not met the gross income test through transactions with a
expenses as to the type, amount, and location in Connecticut where
related person, as defined in Conn. Gen. Stat. §12-217w.
conducted.
Definitions
Tentative Tax Credit Computation
For a qualified small business, the tentative tax credit allowed
Connecticut research and development expenses are those
for research and development expenses is equal to 6% of such
amounts deductible under §174 of the Internal Revenue Code of
expenses. Any company other than a qualified small business must
1986, as in effect on May 28, 1993, (determined without regard
use the tentative rate schedule below to determine the amount of the
to §280C(c) thereof), and basic research payments as defined
tentative credit.
under IRC §41, to the extent not deducted under IRC §174.
The expenses must be paid or incurred by the taxpayer for research
The amount of credit available to companies that have revenues in
and development and basic research conducted in Connecticut and
excess of $3 billion, employing more than 2,500 employees, and
may not be funded, within the meaning of IRC §41(d)(4)(H), by any
headquartered in an Enterprise Zone shall be the tentative credit
grant, contract, or otherwise by a person or governmental entity other
allowed or 3.5% of the total research and development expenses,
than the taxpayer unless the other person is included in a combined
whichever is greater. A company that pays or incurs research and
return with the person paying or incurring the expenses. Overhead
development expenses in excess of $200 million for the income year
must obtain an eligibility certificate from the Department of Economic
and other expenses, including general and administrative expenses
that relate to a corporation’s activities as a whole and not specifically
and Community Development (DECD) prior to claiming the credit.
to the research and development effort will not qualify.
Additional Information
Qualifying expenses may include but are not limited to:
See Informational Publication 2010(13), Guide to Connecticut
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Expenses incurred in connection with the taxpayer’s trade or
Business Tax Credits, or contact the Department of Revenue Services,
business that represent research and development costs in the
Taxpayer Services Division at 1-800-382-9463 (Connecticut calls
experimental or laboratory sense;
outside the Greater Hartford calling area only) or 860-297-5962 (from
anywhere).
Part I - Tentative Research and Development Expenses Tax Credit Computation
1. Enter the amount of Connecticut research and development expenses for the 2012 income year. Attach detailed
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schedule.
1.
2. Enter the amount of excess Connecticut research and experimental expenditures for the 2012 income year according
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2.
to Conn. Gen. Stat. §12-217j, from 2012 Form CT-1120RC, Part I, Line 3.
3. Enter the amount of excess grant expenditures to institutions of higher education in Connecticut for research and
3.
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development according to Conn. Gen. Stat. §12-217l, from 2012 Form CT-1120GC, Line 7.
4. Total excess expenditures: Add Line 2 and Line 3.
4.
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5. Net research and development expenses for 2012: Subtract Line 4 from Line 1.
5.
6a. Qualified small businesses multiply amount on Line 5 by 6% (.06).
6a.
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6b. Companies headquartered in an Enterprise Zone, with revenues in excess of $3 billion,
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6b.
employing more than 2,500 employees, may elect to multiply amount on Line 5 by 3.5% (.035).
6c. All other businesses determine amount from the Tentative Credit Rate Schedule, on Page 2.
6c.
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0
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6. Tentative credit for 2012: Enter the amount from Line 6a, 6b, or 6c.
6.
7. Reduction of tentative tax credit for 2012: Applicable if Line 5 exceeds $200 million and workforce is reduced.
7.
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8. Allowable tentative tax credit for 2012: Subtract Line 7 from Line 6.
8.
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