Connecticut Housing Program Contribution Credit
Extracted from PDF file 2019-connecticut-form-ct-1120-hpc.pdf, last modified October 2019
Housing Program Contribution CreditDepartment of Revenue Services State of Connecticut (Rev. 12/19) 2019 Form CT-1120 HPC Housing Program Contribution Tax Credit For Income Year Beginning: ___________________________ , 2019 and Ending: ___________________________ , __________ . Connecticut Tax Registration Number Corporation name Complete this form in blue or black ink only. Do not use staples. Please note that each form is year specific. The correct year’s form must be used. Use Form CT‑1120 HPC to claim the tax credit allowed under Conn. Gen. Stat § 8‑395 to business firms that make cash contributions to housing programs that benefit low and moderate income individuals and families. This tax credit is administered by the Connecticut Housing Finance Authority (CHFA). To be entitled to claim this credit, CHFA must have issued the taxpayer a credit voucher, which indicates the amount of the available tax credit. 209 (Air Carriers Tax), 210 (Railroad Companies Tax), 211 (Community Antenna Television Systems Tax), or 212 (Utility Companies Tax) of the Connecticut General Statutes. Carryforward/Carryback Any remaining tax credit balance that exceeds the credit applied may be carried forward for five succeeding income years or carried back for five preceding income years. Additional Information Contact Connecticut Housing Finance Authority (CHFA) Tax Credit Unit, 999 West Street, Rocky Hill CT 06067‑4005, at 860‑571‑4251. See the Guide to Connecticut Business Tax Credits available on the Department of Revenue Services (DRS) website at portal.ct.gov/DRS; or contact DRS at 800‑382-9463 (Connecticut calls outside the Greater Hartford calling area only) or 860-297-5962 (from anywhere) for additional information. Credit Computation Enter the amount of tax credit, as indicated on the credit voucher, in Part I. The allowable credit may be applied against the taxes administered under Chapters 207 (Insurance Companies and Health Care Centers Taxes), 208 (Corporation Business Tax), Part I - Credit Computation Enter the amount of tax credit as shown on the credit voucher issued by CHFA for contributions made in the 2019 income year. Enter here and on Form CT‑1120K, Part I‑A, Column A and/or Form CT‑207K, Part 1A, Column B. Part II - Computation of Carryforward Credit may be carried forward or back to the five succeeding or preceding income years. See instructions below. A Total Credit Earned B Credit Applied 2014 Through 2018 C Credit Carried Back to Prior Income Years D Credit Applied to 2019 E Carryforward to 2020 2014 Housing Program 1. Contribution tax credit, from 2014 Form CT-1120 HPC, Part I. 2015 Housing Program 2. Contribution tax credit, from 2015 Form CT-1120 HPC, Part I. 2016 Housing Program 3. Contribution tax credit, from 2016 Form CT-1120 HPC, Part I. 2017 Housing Program 4. Contribution tax credit, from 2017 Form CT-1120 HPC, Part I. 2018 Housing Program 5. Contribution tax credit, from 2018 Form CT-1120 HPC, Part I. 2019 Housing Program 6. Contribution tax credit, from 2019 Form CT-1120 HPC, Part I. 7. Total Housing Program Contribution tax credit applied to 2019: Add Lines 1 through 6 in Column D. 8. Total Housing Program Contribution tax credit carryforward to 2020: Add Lines 2 through 6, Column E. Computation of Carryforward and Carryback Instructions Lines 1 through 6, Columns A through D - Enter the amount for each corresponding year. Lines 2 through 5, Column E - Subtract Columns B, C, and D from Column A. Line 6, Column C - Any available credit must first be applied against the 2019 income year liability. Do not exceed the difference between Column A and Column D. Line 6, Column E - Enter any 2019 tax credits remaining after credits are applied to the 2019 income year and any credit carrybacks are claimed. Members included in 2019 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 HPC
More about the Connecticut Form CT-1120 HPC Corporate Income Tax Tax Credit
We last updated the Housing Program Contribution Credit in March 2020, and the latest form we have available is for tax year 2019. 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 CC||Authorization and Consent to be Included in a Combined Return|
|Form CT-1120 RDC||Research and Development Credit|
|Form CT-1120 A-LP||Corporation Business Tax Return Apportionment of Limited Partnership Interests|
|Form CT-1120 Instructions||Connecticut Corporation Business Tax Instructions|
|Form CT-1120 SBJ||Small Business Job Creation Tax Credit|
|Form CT-1120||Corporation Business Tax Return|
|Form CT-1120 A-IRIC||Corporation Business Tax Return Approtionment Computation of Income From Services to Regulated Investment Companies|
|Form CT-1120 DA||Digital Animation Tax Credit|
|Form CT-1120 DL||Donation of Land Credit|
|Form CT-1120 MEC||Machinery and Equipment Expenditure Credit|
Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-1120 HPC from the Department of Revenue Services in March 2020.
Form CT-1120 HPC 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 HPC
We have a total of eight past-year versions of Form CT-1120 HPC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
CT-1120 HPC, 2016 Housing Program Contribution Tax Credit
CT-1120 HPC, 2015 Housing Program Contribution Tax Credit
CT-1120 HPC, 2014 Housing Program Contribution Tax Credit
CT-1120 HPC, 2013 Housing Program Contribution Tax Credit
CT-1120 HPC, Housing Program Contribution Tax Credit
CT-1120 HPC, Housing Program Contribution Tax Credit
While we do our best to keep our list of Connecticut Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.