Connecticut Administrative Code
Title 17 - Public Assistance and Welfare Services
615 - Child Day Care Business Firm Tax Credits
Section 17-615-5 - Allotment of tax credit
Current through September 9, 2024
(a) Any such business firm receiving a tax credit allocation shall, within thirty (30) days of the end of the expenditure year, submit a report of its actual expenditures in such year to the Commissioner.
(b) The amount of tax credit allowed under Section 17-613(b) of the Connecticut General Statutes which is not exhausted in the expenditure year must be carried back to the five (5) preceding years (beginning with the earliest of such years) before any unexhausted balance can be carried forward to the five (5) succeeding years (beginning with the earliest of such years.)
(c) With respect to credits against the tax imposed under Chapter 212, any credit must be claimed on a quarterly tax return for a quarter ending in the expenditure year. With respect to credits against the tax imposed under Chapters 207, 210 or 211, any credit must be claimed on the annual tax return for the expenditure year. With respect to credits against the tax imposed under Chapter 208 or 209, any credit must be claimed on the annual tax return for the business firm's accounting period, for federal income tax purposes, with or within which the expenditure year ends.
