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Connecticut Free Printable CT-1120 SBJ,   2014 Qualified Small Business Job Creation Tax Credit for 2020 Connecticut Small Business Job Creation Tax Credit

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Small Business Job Creation Tax Credit
CT-1120 SBJ, 2014 Qualified Small Business Job Creation Tax Credit

Department of Revenue Services State of Connecticut (Rev. 12/14) 2014 Form CT-1120 SBJ Qualified Small Business Job Creation Tax Credit For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ . Connecticut Tax Registration Number Name of corporation or business entity Complete this form in blue or black ink only. Credit Computation Use Form CT-1120 SBJ to claim the credit allowed under Conn. Gen. Stat. §12-217nn. This form must be used to claim the tax credit against the taxes imposed under Chapter 207 (insurance premiums tax; health care centers tax), Chapter 208 (corporation business tax), or Chapter 229 (income tax) of the Connecticut General Statutes. A qualified small business may earn a tax credit equal to $200 per month for hiring a Connecticut resident. The new employee must be hired to fill a full-time job during the income years beginning on or after January 1, 2010, and before January 1, 2013. The tax credit can be claimed in the income year of the hire and the next two income years. No qualified small business may claim a tax credit for a new employee who is an owner, member, or partner in the business or who is not employed at the close of the income year of the qualified small business. Definitions Full-time job means a job in which an employee is required to work at least 35 or more hours per week for not less than 48 weeks in a calendar year. Full-time job does not include temporary or seasonal work. Qualified small business means an employer who employs less than 50 employees in Connecticut and is subject to tax under Conn. Gen. Stat. Chapters 207, 208, or 229. New employee means a person hired after May 6, 2010, by a qualified small business. It does not include a person who was employed in Connecticut by a person related to the qualified small business during the prior 12 months. To be eligible to claim this credit an application must be submitted to and approved by the Department of Economic and Community Development (DECD). Additional Information Contact DECD, Office of Business Development, 505 Hudson Street, Hartford, CT 06106, 860-270-8215; see the Guide to Connecticut Business Tax Credits available on the Department of Revenue Services (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). Credit Computation If additional lines are needed, attach a worksheet. See instructions below. A B C D Qualifying Employee Name Employee Social Security Number Check if Resident of Connecticut Date of Hire E Number of Full Calendar Months Employed in 2014 F Column E Multiplied by $200 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Tax credit: Add Lines 1 through 10, Column F. Enter here and on Form CT-1120K, Part I-B, Column A and/or Form CT-207K, Part 1B, Column B. See instructions. Line Instructions Lines 1 through 10 - Enter corresponding amounts. Line 11 - If filing Form CT-1065/CT-1120SI, allocate the amount on Line 11 among members in Part VII, Line 1. If filing Form CT-1041, enter the amount on Line 11, on Worksheet B, Line 7. If you are a sole proprietorship or a single member limited liability company that is disregarded as an entity separate from its owner and subject to the provisions of Chapter 229 of the Connecticut General Statutes, enter the amount from Line 11, on Schedule CT-IT Credit, Line 2, Column C.
Extracted from PDF file 2016-connecticut-form-ct-1120-sbj.pdf, last modified October 2014

More about the Connecticut Form CT-1120 SBJ Corporate Income Tax Tax Credit

We last updated the Small Business Job Creation Tax Credit in May 2017, and the latest form we have available is for tax year 2016. 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:

TaxFormFinder has an additional 85 Connecticut income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Connecticut Form CT-1120 SBJ.

Form Code Form Name
Form CT-1120 Instructions Connecticut Corporation Business Tax Instructions
Form CT-1120 CU Combined Unitary Corporation Business Tax Return
Form CT-1120 EXT Application for Extension of Time to File Connecticut Corporation Tax Return
Form CT-1120 CC Authorization and Consent to be Included in a Combined Return
Form CT-1120 Corporation Business Tax Return
Form CT-1120 ATT Corporation Business Tax Return Attachment H, I and J
Form CT-1120 MEC Machinery and Equipment Expenditure Credit
Form CT-1120 RDC Research and Development Credit
Form CT-1120A Corporation Business Tax Return Apportionment Computation
Form CT-1120K Business Tax Credit Summary

Download all CT tax forms View all 86 Connecticut Income Tax Forms


Form Sources:

Connecticut usually releases forms for the current tax year between January and April. We last updated Connecticut Form CT-1120 SBJ from the Department of Revenue Services in May 2017.

Show Sources >

Form CT-1120 SBJ 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 SBJ

We have a total of six past-year versions of Form CT-1120 SBJ in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form CT-1120 SBJ

CT-1120 SBJ, 2014 Qualified Small Business Job Creation Tax Credit

2014 Qualified Small Business Job Creation Tax Credit 2015 Form CT-1120 SBJ

CT-1120 SBJ, 2014 Qualified Small Business Job Creation Tax Credit

2014 Qualified Small Business Job Creation Tax Credit 2014 Form CT-1120 SBJ

CT-1120 SBJ, 2014 Qualified Small Business Job Creation Tax Credit

2013 Qualified Small Business Job Creation Tax Credit 2013 Form CT-1120 SBJ

CT-1120 SBJ, 2013 Qualified Small Business Job Creation Tax Credit

Qualified Small Business Job Creation Tax Credit 2012 Form CT-1120 SBJ

CT-1120 SBJ, Qualified Small Business Job Creation Tax Credit

Qualified Small Business Job Creation Tax Credit 2011 Form CT-1120 SBJ

CT-1120 SBJ, Qualified Small Business Job Creation Tax Credit


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