Form Ct-1120gb - Green Buildings Tax Credit - 2012
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1Department of Revenue Services
2012
Form CT-1120GB
State of Connecticut
(New 01/13)
Green Buildings Tax Credit
For Income Year Beginning: _______________________ , 2012 and Ending: ________________________ , _________ .
Corporation name
Connecticut Tax Registration Number
Complete this form in blue or black ink only.
The tax credit percentage increases by 0.5% if the eligible project
meets any one of the following requirements:
Complete Form CT-1120GB, Green Building Tax Credit, to claim
1.
Is a mixed-use development;
the credit allowed under Conn. Gen. Stat. §12-217mm for eligible
Is located in a brownfield or enterprise zone;
construction, renovation, or rehabilitation projects. This form must
2.
be used to claim the tax credit available against the tax imposed
3.
Does not require a sewer extension of more than 1/8 mile; or
under Chapter 208 (corporation business tax), of the Connecticut
4.
Is located within 1/4 mile walking distance of bus transit, rail, light
General Statutes.
rail, streetcar, or ferry services.
This credit is administered by the Department of Energy and
Carryforward/Carryback
Environmental Protection (DEEP). To be eligible to claim this credit,
Excess tax credit may be carried forward for up to five income years.
an application must have been submitted to and approved by DEEP.
No carryback is allowed.
A taxpayer allowed this tax credit may assign the tax credit to another
Definitions
taxpayer or taxpayers. A project owner, including a non-profit entity,
may transfer a tax credit to a pass-through partner in return for a
Allowable costs means amounts chargeable to a capital account
that are paid for:
lump sum cash payment.
1.
Construction or rehabilitation costs;
Credit Computation
2.
Commissioning costs;
The tax credit is equal to the allowable costs multiplied by the
3.
Architectural and engineering fees;
applicable tax credit percentage. A taxpayer may claim only 25% of the
total amount of allowable costs in any year. The tax credit percentage
4.
Site costs (e.g. temporary electric wiring, scaffolding, demolition,
depends on the certification level of the project, as follows:
fencing, security); and
5.
Carpeting, partitions, walls, wall coverings, ceilings, lighting,
plumbing, electric wiring, mechanical, heating, cooling, ventilation.
Type of Eligible
Tax Credit
LEED Green
Project
Percentage
Building Rating
Purchases of land, remediation costs, and the costs of telephone
systems or computers are not allowable costs.
Gold
8%
New Construction or Major
Renovation
Eligible project means a real estate development project, or a
Platinum
10.5%
building within a real estate development project, that is designed
Gold
5%
Core and Shell or
to meet the applicable LEED Green Building Rating System gold
Commercial Interior Projects
certification or other equivalent certification, as determined by DEEP.
Platinum
7%
Additional Information
See Informational Publication 2010(13), Guide to Connecticut
Business Tax Credits, or contact DEEP, Ten Franklin Square,
New Britain, CT 06051, 860-418-6441.
Part I - Credit Computation
The Green Building tax credit is being claimed by:
Project owner
Assignee
If credit is being claimed by an assignee, enter the name and Connecticut Tax Registration Number (if available) of the assignor below.
Attach explanation.
______________________________________________
_______________________________________________
Assignor’s name
Assignor’s Connecticut Tax Registration Number
1. Enter the Initial Tax Credit Voucher Number issued by the Commissioner of DEEP.
1.
2. Enter allowable costs paid during the 2012 Income Year.
2.
00
.
3. Enter Tax Credit Percentage (see Credit Computation above).
3.
4. Multiply Line 2 by Line 3.
4.
00
5. Tax Credit: Multiply Line 4 by 25%. Enter here and on Form CT-1120K, Part I-D, Column B
5.
00
6. Total Green Buildings tax credit applied to 2012: Enter amount here and on
Form CT-1120K, Part I-D, Column C. Do not exceed amount on Line 5.
6.
00
7. Total Green Buildings tax credit carried forward to 2013: Subtract Line 6 from Line 5.
Enter here and on Form CT-1120K, Part I-D, Column E.
7.
00
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