Connecticut New Jobs Creation Credit

New Jobs Creation Credit
Form CT-1120 NJC,  New Jobs Creation Credit
Department of Revenue Services
State of Connecticut

Form CT-1120 NJC

(New 12/06)

New Jobs Creation Credit
For Income Year
Beginning

, and Ending

Connecticut Tax Registration Number

Corporation Name

Complete Form CT-1120 NJC, New Jobs Creation Credit, to
claim the credit allowed under 2006 Conn. Pub. Acts 186, §80.
Attach it to Form CT-1120K, Business Tax Credit Summary.

Credit Computation
For income years beginning on or after January 1, 2006, a tax
credit for the creation of new jobs is available to an entity
subject to the corporation business tax under Chapter 208, the
insurance premiums tax under Chapter 207, or the utilities
company tax under Chapter 212 of the general statutes not
conducting business in Connecticut prior to relocation to
Connecticut.
The credit allowed is an amount up to 25% of the income tax
deducted and withheld from the wages of new employees and
paid over to the state according to Chapter 229 of the general
statutes. For each new employee, credits may be granted for
five successive years.
The credit is claimed in the income year in which it is earned
and any credit not used in a tax year expire.

Definitions
A new job is defined as a job which did not exist prior to the
application and which is filled by a person hired by the taxpayer
to fill a job which requires at least thirty-five or more hours per
week, and which is not temporary or seasonal. The credit is
allowed for taxpayers who create at least 50 new jobs.
Relocation to Connecticut means the taxpayer creating the
new job shall not have been conducting business in Connecticut
prior to the taxpayer’s application to DECD for an eligibility
certificate.

Additional Information
Contact DECD, 505 Hudson Street, Hartford CT 06106, at
860-270-8045; see Informational Publication 2006(15),
Guide to Connecticut Business Tax Credits, or contact the
Department of Revenue Services, Taxpayer Services Division
at 1-800-382-9463 (Connecticut calls outside the Greater
Hartford calling area only) or 860-297-5962 (from anywhere).

This credit is administered by the Commissioner of the
Department of Economic and Community Development
(DECD). To be entitled to claim the credit, an application for
an eligibility certificate must be submitted to DECD. The
total amount of credit granted to all taxpayers shall not exceed
$10 million in any one fiscal year.
This credit contains a recapture provision.

Complete this form in blue or black ink only.

Credit Computation
1.

Enter the amount of income tax deducted and withheld from the wages of new
employees and paid over to the state for the current income year.

1.

2.

Multiply Line 1 by 25% (.25).

2.

3.

Tax credit (Enter amount from Line 2. Enter here and on Form CT-1120K, Part I-C,
Line 14, Column A.)

3.