Title 12, Title 12: Taxation

Sec. 12-217h. Tax credit for expenditures to establish day care facilities for children of employees. Section 12-217h is repealed effective January 1, 1990, and applicable to income years of corporations commencing on or after that date. (P.A. 81-100, S. 1, 2; P.A. 82-469, S. 9, …

Sec. 12-217hh. Tax credit for hiring displaced worker. Section 12-217hh is repealed, effective July 1, 2013. (P.A. 06-186, S. 81; P.A. 13-232, S. 18.)

Sec. 12-217i. Tax credits for investments in vehicles powered by clean alternative fuels or electricity, for construction of or improvements to alternative fuel filling stations and for converting motor vehicles to utilize alternative fuels. For income years commencing prior to J…

Sec. 12-217ii. Jobs creation tax credit program. No eligibility certificates issued on or after January 1, 2012. (a) As used in this section: (1) “Commissioner” means the Commissioner of Economic and Community Development; (2) “Income year” means, with respect to entities subject…

Sec. 12-217j. Tax credit for research and experimental expenditures. (a) There shall be allowed as a credit against the tax imposed on any corporation under this chapter, with respect to income years of such corporation commencing on or after January 1, 1994, an amount equal to t…

Sec. 12-217jj. Film production tax credit. Regulations. (a) As used in this section: (1) “Commissioner” means the Commissioner of Revenue Services. (2) “Department” means the Department of Economic and Community Development. (3) (A) “Qualified production” means entertainment cont…

Sec. 12-217k. Tax credit for employee training. Section 12-217k is repealed, effective July 8, 1997, and applicable to income years commencing on or after January 1, 1998. (P.A. 92-193, S. 4, 8; P.A. 93-74, S. 7, 67; P.A. 97-295, S. 24, 25; P.A. 98-262, S. 14, 22.)

Sec. 12-217kk. Tax credit for infrastructure projects in the entertainment industry. Regulations. (a) As used in this section: (1) “Commissioner” means the Commissioner of Revenue Services. (2) “Department” means the Department of Economic and Community Development. (3) “Infrastr…

Sec. 12-217l. Tax credit for expenditures for grants to institutions of higher education for research and development related to technological advancements. Section 12-217l is repealed, effective July 1, 2013. (P.A. 92-193, S. 5, 8; P.A. 13-232, S. 18.)

Sec. 12-217ll. Tax credit for digital animation production companies. Regulations. (a) As used in this section: (1) “Commissioner” means the Commissioner of Revenue Services. (2) “Department” means the Department of Economic and Community Development. (3) “Digital animation produ…

Sec. 12-217m. Tax credit for taxpayers occupying new facilities and creating new jobs. Section 12-217m is repealed, effective July 8, 1997, and applicable to income years commencing on or after January 1, 1998. (P.A. 92-250, S. 1, 2; P.A. 95-79, S. 27, 189; 95-250, S. 1; P.A. 96-…

Sec. 12-217mm. Tax credit for green buildings. No initial credit voucher issued after November 30, 2017. (a) As used in this section: (1) “Allowable costs” means the amounts chargeable to a capital account, including, but not limited to: (A) Construction or rehabilitation costs; …

Sec. 12-217n. Rolling tax credit for research and development expenses. Carryforward limit. (a) There shall be allowed as a credit against the tax imposed by this chapter the amount determined under subsection (c) of this section in respect of the research and development expense…

Sec. 12-217nn. Qualified small business job creation tax credit program. No credit allowed in income years commencing on or after January 1, 2013. (a) As used in this section: (1) “Commissioner” means the Commissioner of Economic and Community Development; (2) “Income year” means…

Sec. 12-217o. Tax credit for machinery and equipment expenditures. There shall be allowed as a credit against the tax imposed on any corporation under this chapter with respect to any taxable year of such corporation commencing on or after January 1, 1997, (1) that has more than …

Sec. 12-217oo. Vocational rehabilitation job creation tax credit program. No credit allowed for income years commencing on or after January 1, 2012. (a) As used in this section: (1) “Commissioner” means the Commissioner of Economic and Community Development; (2) “Employer” means …

Sec. 12-217p. Tax credits for taxpayer providing housing for low and moderate income employees. Section 12-217p is repealed, effective June 7, 2006. (P.A. 93-74, S. 50, 67; P.A. 94-175, S. 18, 32; May Sp. Sess. P.A. 94-4, S. 80, 85; P.A. 95-160, S. 64, 69; P.A. 97-295, S. 18, 25;…

Sec. 12-217pp. Job expansion tax credit program. No credit allowed for new jobs created on or after January 1, 2014. (a) As used in this section: (1) “Commissioner” means the Commissioner of Economic and Community Development; (2) “Control”, with respect to a corporation, means o…

Secs. 12-217q and 12-217r. Tax credit for expenditures for: Construction of or improvements to alternative fuel filling stations; converting motor vehicles to utilize alternative fuels. Sections 12-217q and 12-217r are repealed, effective April 13, 1995, and applicable to income …

Sec. 12-217qq. Tax credit for employers making student loan payments. (a) As used in this section: (1) “Commissioner” means the Commissioner of Revenue Services; (2) “Full-time” means required to work at least thirty-five hours per week; (3) “Qualified employee” means an individu…

Sec. 12-217rr. Tax credits for cash contributions to youth development organizations. Sunset. (a) As used in this section, “youth development organization” means a nonprofit organization that is exempt from taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 19…

Sec. 12-217s. Tax credit for expenditures related to traffic reduction programs. There shall be allowed as a credit against the tax imposed on any corporation under this chapter which participates in the traffic reduction program established under section 13b-38p and conducted in…

Sec. 12-217ss. Tax credits for share plan program. (a) As used in this section: (1) “Company” means an entity that is subject to the tax under this chapter and has one hundred or more full-time employees in the state; (2) “Eligible employee” means any full-time employee of the co…

Sec. 12-217t. Tax credit for personal property taxes paid on electronic data processing equipment. (a) There shall be allowed as a credit against the tax imposed by chapter 207, this chapter, chapter 208a, 209, 210, 211, or 212 or against the tax imposed pursuant to section 12-20…

Sec. 12-217tt. Tax credit for contributions into ABLE accounts of employees. (a)(1) There shall be allowed a credit against the tax imposed under this chapter or chapter 229, other than the liability imposed by section 12-707, for contributions made by taxpayers into the ABLE acc…

Sec. 12-217u. Tax credit for financial institutions constructing new facilities and creating new jobs. For income years commencing prior to January 1, 2014. (a) For purposes of this section: (1) “Commissioner” means the Commissioner of Economic and Community Development; (2) “Com…

Sec. 12-217v. Tax credit for qualifying corporations in enterprise zones. Section 12-217v is repealed, effective July 1, 2018. (P.A. 96-239, S. 3, 17; Dec. Sp. Sess. P.A. 15-1, S. 35; P.A. 18-145, S. 3.)

Sec. 12-217w. *(See end of section for amended version and effective date.) Tax credit for investment in fixed capital. (a) For purposes of this section, “fixed capital” means tangible personal property which (1) has a class life, in years, of more than four years, as described i…

Sec. 12-217x. Tax credit for human capital investment. (a) For purposes of this section, “human capital investment” means the amount paid or incurred by a corporation on: (1) Job training that occurs in this state for persons who are employed in this state; (2) Work education pro…

Sec. 12-217y. Tax credit for employing persons who are receiving benefits from the temporary family assistance program. Section 12-217y is repealed, effective June 18, 2013. (P.A. 97-295, S. 7, 25; P.A. 98-262, S. 14, 22; P.A. 99-203, S. 1, 3; P.A. 00-174, S. 25, 83; P.A. 13-140,…

Sec. 12-217z. Business Tax Credit and Tax Policy Review Committee. Section 12-217z is repealed, effective July 1, 2023. (P.A. 97-295, S. 4, 25; P.A. 98-262, S. 14, 22; P.A. 05-251, S. 64; P.A. 23-204, S. 444.)

Sec. 12-217zz. Limit on credits under this chapter. (a) Except as otherwise provided in subsection (b) of this section and sections 12-217aaa and 12-217bbb, the amount of tax credit or credits otherwise allowable against the tax imposed under this chapter shall be as follows: (1)…

Sec. 12-218. Apportionment of net income. (a) Any taxpayer which is taxable both within and without this state shall apportion its net income as provided in this section. For purposes of apportionment of income under this section, a taxpayer is taxable in another state if in such…

Sec. 12-218a. Apportionment of tax on insurance company. (a) Except as provided in subsection (b) of this section, any tax imposed on domestic insurance companies by section 12-214 shall be imposed on the base specified for such tax apportioned to this state by multiplying the ba…

Sec. 12-218b. Apportionment of net income of financial service companies. (a) For purposes of this section: (1) “Administrative services” includes, but is not limited to, clerical, fund or investment or account holder accounting, participant record keeping, transfer agency, bookk…

Sec. 12-218c. Restrictions on the deductibility of certain intangible expenses and interest expenses with a related member. (a) As used in this section: (1) “Affiliated group” has the same meaning as in Section 1504 of the Internal Revenue Code. (2) “Intangible expenses and costs…

Sec. 12-218d. Restriction on the deductibility of interest expenses or costs related to certain transactions with related members. (a) As used in this section: (1) “Affiliated group” has the same meaning as in Section 1504 of the Internal Revenue Code. (2) “Interest expenses and …

Sec. 12-218e. Combined group's net income. Apportionment percentage. Net operating loss. Carryover. Additional tax base. Nexus combined base tax. (a) For purposes of this chapter, the combined group's net income shall be the aggregate net income or loss of each taxable member and…

Sec. 12-218f. Combined group determined on world-wide basis, affiliated group basis or water's-edge basis. Tax havens. (a) For purposes of this section, “affiliated group” means an affiliated group as defined in Section 1504 of the Internal Revenue Code, except such affiliated gr…

Sec. 12-218g. Net deferred tax liability and assets. Deductions. (a) For purposes of this section, “net deferred tax liability” means deferred tax liabilities that exceed the deferred tax assets of the combined group, as computed in accordance with generally accepted accounting p…

Sec. 12-218h. Valuation allowance. Deductions. (a) For purposes of this section, “valuation allowance” means the portion of a deferred tax asset for which it is more likely than not that a tax benefit will not be realized, as determined in accordance with generally accepted accou…

Sec. 12-219. Capital base tax. Phase-out. Surcharge. (a)(1) Each company subject to the provisions of this part shall pay for the privilege of carrying on or doing business within the state, the larger of the tax, if any, imposed by section 12-214 and the tax calculated under thi…

Sec. 12-219a. Apportionment of tax base in and out of state. Insurance companies excepted. (a) If a taxpayer is taxable both within and without the state, a tax shall be imposed on the base as provided in section 12-219, apportioned on the following basis: (1) The average monthly…

Sec. 12-219b. Election with respect to apportionment of net income. (a) With respect to the taxation under this chapter in income years commencing on or after January 1, 1996, of a company's distributive share as a partner of partnership income or loss in all partnerships in whic…

Secs. 12-220 to 12-221. Allocation of minimum tax base. Apportionment of additional tax. Allocation in special cases. Sections 12-220 to 12-221, inclusive, are repealed. (1949, Rev., S. 1901, 1902; 1951, 1953, S. 1097d; 1957, P.A. 560, S. 3; 1961, P.A. 356; 1967, P.A. 586, S. 2, …

Sec. 12-221a. Petition for alternative method of apportionment. Regulations. (a) If the method of apportionment prescribed in sections 12-218, 12-218a and 12-219a, as administered by the Commissioner of Revenue Services and applied to the business of any company, unfairly attribu…