Form Ct-1120 Dwc - Displaced Worker Tax Credits

Department of Revenue Services

2012

State of Connecticut

Form CT-1120 DWC

(Rev. 12/12)

Displaced Worker Tax Credits

For Income Year Beginning: _______________________ , 2012 and Ending: ________________________ , _________ .

Corporation name

Connecticut Tax Registration Number

Definitions

Complete this form in blue or black ink only.

Displaced Electric Worker means any Connecticut employee,

Use Form CT-1120 DWC to claim the tax credits allowed

other than an officer or a director, of an electric company as

under Conn. Gen. Stat. §§12-217bb and 12-217hh. Attach

defined in Conn. Gen. Stat. §16-1, or a generation entity or

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

affiliate, who has been terminated as a direct result of the

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

restructuring of the electric industry.

Credit Computation

Displaced Worker means any person employed in Connecticut

Displaced Electric Worker Credit

whose position was terminated by his or her former employer as

a direct result of a business restructuring in which the positions

A $1,500 credit against the Connecticut corporation business

of at least ten persons employed in Connecticut by the former

tax is available to any electric supplier in Connecticut, other

than a generation entity or affiliate of an electric company, that

employer were terminated provided the wages or salary for the

first 12 months of his or her new employment are at least 75% of

hires a displaced electric worker for a new period of six months

the displaced worker’s previous annual wages or salary. It does

of full-time employment. The credit may only be taken once for

not include any person whose former employer is or was at the

each displaced electric worker hired.

time of termination of the position a related person (as defined in

Do not include employees for whom a credit is claimed under

Conn. Gen. Stat. §12-217hh(a)(2)) with respect to the taxpayer.

the Qualified Small Business Job Creation tax credit or the

Vocational Rehabilitation Job Creation tax credit.

Electric Supplier means a facility that provides electric

generation services, as defined in Conn. Gen. Stat. §16-1.

Displaced Worker Credit

A $1,500 credit against the tax imposed under Chapters 207,

Required Attachment

208, or 212 of the Connecticut General Statutes (other than

This form must be accompanied by a detailed schedule

the tax imposed by Conn. Gen. Stat. §12-202a), is available

identifying the displaced worker, job title and description, name

for each displaced worker hired. The credit may only be taken

and address of previous employer, and date of hire.

once for any displaced worker and no taxpayer may claim this

credit and the credit under Conn. Gen. Stat. §12-217bb for the

Additional Information

same displaced worker.

See Informational Publication 2010(13), Guide to

Connecticut Business Tax Credits, or contact the Department

Do not include employees for whom a credit is claimed under

the Qualified Small Business Job Creation tax credit or the

of Revenue Services, Taxpayer Services Division at

1-800-382-9463 (Connecticut calls outside the Greater

Vocational Rehabilitation Job Creation tax credit.

Hartford calling area only) or 860-297-5962 (from anywhere).

Credit Computation

1. Enter the total number of displaced workers hired that have completed at least 12 months of

full-time employment. Attach detailed schedule.

2. Amount of credit available per displaced worker

$1,500

3. Multiply Line 1 by Line 2.

4. Enter the total number of displaced electric workers hired that have completed at least six

months of full-time employment. Do not include displaced workers included on Line 1.

Attach detailed schedule.

5. Amount of credit available per displaced electric worker

$1,500

6. Multiply Line 4 by Line 5.

7. Total corporation business tax credit: Add Line 3 and Line 6. Enter amount

here and on Form CT-1120K, Part I-C, Column A.

8. Amount applied to corporation business tax: Enter amount here and on

Form CT-1120K, Part I-C, Column B.

9. Amount applied to tax imposed under Chapter 207 and other taxes: Enter amount from

Line 3 here and on Form CT-207K, Part 1-A, Column B and Column C and/or

Form CT-1120K, Part I-C, Column C.

This amount cannot exceed the amount on Line 3.

Form Ct-1120 Dwc - Displaced Worker Tax Credits - 2012

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