Connecticut Administrative Code
Title 12 - Taxation
217s - The Traffic Reduction Tax Credit Program
Section 12-217s-3 - Limitations
Universal Citation: CT Reg of State Agencies 12-217s-3
Current through March 14, 2024
The amount of the credit in a single credit year a qualified corporation may claim expenses for the operation of the traffic reduction program shall be limited to whichever of the following amounts is the least:
(1) Fifty percent of the approved direct costs incurred by the corporation during the credit year;
(2) $250 per participating employee;
(3) The amount certified by the department after adjusting for the statutory limit; or
(4) The amount of tax imposed upon such corporation under Chapter 208 of the Connecticut General Statutes.
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