Connecticut Administrative Code
Title 12 - Taxation
217s - The Traffic Reduction Tax Credit Program
Section 12-217s-7 - Application for tax credit

Universal Citation: CT Reg of State Agencies 12-217s-7

Current through September 9, 2024

(a) A qualified corporation shall apply for the tax credit on the department's form. No qualified corporation may claim the credit on its corporation business tax return unless it has received written notification from the department approving the amount of the affected employer's certified credit pursuant to section 12-217s-9 of the Regulations of Connecticut State Agencies. Applications shall be made in accordance with this section:

(b) Qualified corporations shall submit a completed application form to the department by 4:00 p.m. on July 1st (if July 1st is a Saturday, Sunday or holiday, by 4:00 p.m. on the first business day following July 1st).

(c) Application forms shall include the following information:

(1) The corporation's name, address, Connecticut tax registration number and Federal employer identification number;

(2) All direct costs incurred for each income year on or after January 1, 1995 contained in the application;

(3) The number of participating employees;

(4) All information requested by the Commissioner on the application form;

(5) Signature of a duly authorized officer of the corporation and evidence of the signatory's authority made under penalty of false statement as provided in sections 53a-157b of the Connecticut General Statutes; and

(6) The income year for which the application for credits is being filed.

(d) Each corporation participating in a plan with one or more other corporations shall submit individual tax credit applications. Corporations shall assign proportionate shares of direct costs jointly incurred by such corporations. Failure to properly assign shares may result in the rejection of all applications associated with the plan.

Disclaimer: These regulations may not be the most recent version. Connecticut may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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