Connecticut Electronic Data Processing Equipment Property Tax Credit
Extracted from PDF file 2017-connecticut-form-ct-1120-edpc.pdf, last modified August 2017
Electronic Data Processing Equipment Property Tax CreditDepartment of Revenue Services State of Connecticut (Rev. 12/17) 2017 Form CT-1120 EDPC Electronic Data Processing Equipment Property Tax Credit For Income Year Beginning: ______________________________, 2017 and Ending: _____________________________ , ___________ . Connecticut Tax Registration Number Corporation name Complete this form in blue or black ink only. Use Form CT-1120 EDPC to claim the credit available under Conn. Gen. Stat. §12-217t, for personal property taxes paid on electronic data processing equipment to a Connecticut municipality during the income year. In the case of leased electronic data processing equipment, the lessee, not the lessor, is entitled to claim this credit if the lease by its terms or by operation imposes on the lessee the cost of the personal property taxes on the equipment. However, the lessor and lessee may elect, in writing, that the lessor may claim the credit. The lessor shall provide a copy of the written election upon the request of the Department of Revenue Services (DRS). Definition Electronic data processing equipment means computers, printers, peripheral computer equipment, bundled software, and any computer-based equipment acting as a computer as defined in IRC §168, and any other equipment reported as Code 20 on the Personal Property Declaration; prescribed by the Secretary of the Office of Policy and Management. Credit Computation The electronic data processing property tax credit is allowed only after the application of all other tax credits. The allowable credit is applied first against the Corporation Business Tax and then may be applied against the taxes administered under Chapters 207, 208, 208a, 209, 210, 211, or 212 of the Connecticut General Statutes. Any remaining credit balance that exceeds the credit applied may be carried forward to five succeeding income years. Additional Information See the Guide to Connecticut Business Tax Credits available on the DRS website at www.ct.gov/drs, or contact DRS at 1-800-382-9463 (Connecticut calls outside the Greater Hartford calling area only) or 860-297-5962 (from anywhere). Part I – Credit Computation Enter the amount of personal property taxes paid or incurred by the corporation on electronic data processing equipment in 2017 from the October 1, 2016 grand list. Enter here and on Form CT-1120K, Part I-D, Column B and/or Form CT-207K Part 1C, Column B. Part II – Computation of Carryforward - Credit may be carried forward to the five succeeding income years. See instructions below. A Total Credit Earned B Credit Applied 2012 Through 2016 C Carryforward to 2017 Subtract Column B from Column A. D Credit Applied to 2017 E Carryforward to 2018 2012 Form CT-1120 EDPC, 1. Part I. 2013 Form CT-1120 EDPC, Part I. 2. 2014 Form CT-1120 EDPC, Part I. 3. 2015 Form CT-1120 EDPC, Part I. 4. 2016 Form CT-1120 EDPC, Part I. 5. 2017 Form CT-1120 EDPC, Part I, above. 6. Total Electronic Data Processing Equipment Property tax credit applied to 2017: Add Lines 1 through 6, Column D and enter here. 7. Total Electronic Data Processing Equipment Property tax credit carryforward to 2018: Add Lines 2 through 6, 8. Column E and enter here. Part II Instructions Lines 1 through 6, Columns A through D - Enter the amount for each corresponding year. Lines 2 through 5, Column E - Subtract Column D from Column C. Line 6, Column E - Subtract Column D from Column A. Line 7, Column D - Enter amounts applied to the Corporation Business Tax on Form CT-1120K, Part I-D, Column D. Enter amounts applied against the taxes imposed by Chapter 207 on Form CT-207K, Part 1C, Column C. Enter amounts applied to other taxes on Form CT-1120K, Part I-D, Column F. Members included in 2017 Form CT-1120CU, Combined Unitary Corporation Business Tax Return: Include in Column D credits shared to and used by another member of the combined group.
Form CT-1120 EDPC
More about the Connecticut Form CT-1120 EDPC Corporate Income Tax Tax Credit
We last updated the Electronic Data Processing Equipment Property Tax Credit in January 2018, and the latest form we have available is for tax year 2017. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Connecticut Department of Revenue Services. You can print other Connecticut tax forms here.
Related Connecticut Corporate Income Tax Forms:
|Form Code||Form Name|
|Form CT-1120 EXT||Application for Extension of Time to File Connecticut Corporation Tax Return|
|Form CT-1120 Instructions||Connecticut Corporation Business Tax Instructions|
|Form CT-1120||Corporation Business Tax Return|
|Form CT-1120 U||Unitary Corporation Business Tax Return|
|Form CT-1120I||Computation of Interest Due on Underpayment of Estimated Tax|
|Form CT-1120X||Amended Corporation Business Tax Return|
|Form CT-1120 CU||Combined Unitary Corporation Business Tax Return|
|Form CT-1120K||Business Tax Credit Summary|
|Form CT-1120 MEC||Machinery and Equipment Expenditure Credit|
|Form CT-1120 RDC||Research and Development Credit|
Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-1120 EDPC from the Department of Revenue Services in January 2018.
Form CT-1120 EDPC is a Connecticut Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Connecticut Form CT-1120 EDPC
We have a total of seven past-year versions of Form CT-1120 EDPC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
CT-1120 EDPC, 2016 Electronic Data Processing Equipment Property Tax Credit
CT-1120 EDPC, 2015 Electronic Data Processing Equipment Property Tax Credit
CT-1120 EDPC, 2014 Electronic Data Processing Equipment Property Tax Credit
CT-1120 EDPC, 2013 Electronic Data Processing Equipment Property Tax Credit
CT-1120 EDPC, Electronic Data Processing Equipment Property Tax Credit
CT-1120 EDPC, Electronic Data Processing Equipment Property Tax Credit
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