Connecticut Film Production Tax Credit

Film Production Tax Credit
Form CT-1120FP
Department of Revenue Services
State of Connecticut

2023

Form CT-1120FP

(Rev. 12/23)

Film Production Tax Credit

For Income Year Beginning:________________________ , 2023 and Ending:_________________________ ,__________ .
Name of eligible taxpayer

Connecticut Tax Registration Number

General Information

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-1120FP to claim the business tax credit available
under Conn. Gen. Stat. § 12-217jj for qualified film production.
The Film Production tax credit is administered by the Connecticut
Department of Economic and Community Development (DECD) and
may not be claimed until DECD issues a tax credit voucher which
lists the amount of the available tax credit.
The Film Production tax credit may be applied against the taxes
imposed under Chapter 207 (Insurance Companies and Health
Care Centers Taxes), Chapter 208 (Corporation Business Tax),
Chapter 211 (Community Antenna Television Systems and One‑Way
Satellite Transmission Businesses Tax), and Chapter 219 (Sales
and Use Tax) of the Connecticut General Statutes. This tax credit
may be assigned in whole or in part no more than three times.

Claim Period

For credit vouchers issued on or after July 1, 2015, all or any part of
the tax credit may be claimed in the year the production expenses
or costs were incurred or in any of the five succeeding years after
the year the production expenses or costs were incurred.

Credit Percentage

This credit is calculated based on a percentage of qualified
production expenses or costs. The percentage depends on the
amount of production expenses or costs, as detailed in the following
chart in the next column:
At least $100,000 but not
more than $500,000

10% of production expenses
or costs

More than $500,000 but not
more than $1 million

15% of production expenses
or costs

More than $1 million

30% of production expenses
or costs

Schedule A (attach a copy of Schedule A for each tax credit voucher)
1. DECD Tax Credit Voucher Number

1.

2. Date Credit Voucher issued by DECD

2.

3. Year in which eligible expenditures were incurred
4. Amount of qualified Film Production tax credit as listed on the tax credit
voucher issued by DECD.

3.
4.

5. Amount of Film Production tax credit applied to the Corporation Business Tax. 5.
6. Amount of tax credit applied to other taxes

6.

7. Total amount of tax credit applied. Add Line 5 and Line 6.
8. Assignees applying this credit to the Community Antenna Television
Systems and One‑Way Satellite Transmission Businesses Tax:
•	 Multiply amount applied by 8% if the credit was earned by the entity
with which the assignee has common ownership (at least 50%); or
•	 Multiply amount applied by 5% if the credit was earned by the entity
with which the assignee does not have common ownership.

7.

8.

9. Assignees applying this credit to the Sales and Use Tax:
•	 Multiply amount applied by 22% if the credit was earned by the entity
with which the assignee has common ownership (at least 50%).
•	 Credits earned by an entity with which the assignee does not have
common ownership may not be applied to the Sales and Use Tax.

9.

10. Credit forfeit amount: Add Line 8 and Line 9.

10.

11. Tax credit: Subtract Line 10 from Line 7.

11.

12. Tax credit is being claimed by:	



An eligible production company	



An assignee

If credit is being claimed by an assignee, enter the name and Connecticut Tax Registration Number (if available) of the assignor below.
Attach explanation.
Investor/Assignor’s Name

Investor/Assignor’s Connecticut Tax Registration Number

Initial investor
Second assignor
Third assignor

Visit us at portal.ct.gov/DRS for more information.

General Information (continued)
Limitations on Assigned Credit Usage by Chapter 211
Taxpayers

Credits may be assigned to and used by a taxpayer subject to tax
under Chapter 211. In general, taxpayers that are assigned the credit
and that use the credit against the tax imposed under Chapter 211
may only claim 95% of the amount reported on the credit voucher;
the remainder is forfeited. If there is common ownership of at least
50% between the eligible production company and the taxpayer
assigned the credit, only 92% of the amount reported on the
credit voucher may be claimed against the tax imposed under
Chapter 211; the remainder is forfeited.

Limitations on Assigned Credit Usage by Chapter 219
Taxpayers

•	 Credits may only be claimed against the tax imposed under
Chapter 219 if there is common ownership of at least 50%
between the eligible production company and the taxpayer
assigned the credit; and
•	 Taxpayers claiming the credit against the tax imposed under
Chapter 219 may only claim 78% of the amount of such credit
against such tax; the remainder is forfeited.

Additional Information

See the Guide to Connecticut Business Tax Credits on the Department
of Revenue Services (DRS) website at portal.ct.gov/DRS.

Credit Computation

A

Total Credit
Earned

B

Credit Applied
2018 Through 2022

1.

2018 Film Production
tax credit

2.

2019 Film Production
tax credit

3.

2020 Film Production
tax credit

4.

2021 Film Production
tax credit

5.

2022 Film Production
tax credit

6.

2023 Film Production
tax credit

7.

Total Film Production tax credit applied to 2023:
Add Lines 1 through 6, Column D.

8.

Total Film Production tax credit available in 2024:
Add Lines 2 through 6, Column E.

C

Credit Available
in 2023
Subtract Column B
from Column A.

D

Credit Applied
to 2023

E

Credit Available
in 2024

Instructions for Credit Computation
Line 1, Column A - Enter the total amount from Schedule A, Line 6
attributable to credit vouchers(s) issued by DECD for eligible
production expenses or costs incurred in 2018.
Line 2, Column A - Enter the total amount from Schedule A, Line 6
attributable to credit vouchers(s) issued by DECD for eligible
production expenses or costs incurred in 2019.
Line 3, Column A - Enter the total amount from Schedule A, Line 6
attributable to credit vouchers(s) issued by DECD for eligible
production expenses or costs incurred in 2020.
Line 4, Column A - Enter the total amount from Schedule A, Line 6
attributable to credit vouchers(s) issued by DECD for eligible
production expenses or costs incurred in 2021.
Line 5, Column A - Enter the total amount from Schedule A, Line 6
attributable to credit vouchers(s) issued by DECD for eligible
production expenses or costs incurred in 2022.

Form CT-1120FP Back (Rev. 12/23)

Line 6, Column A - Enter the total amount from Schedule A, Line 11
attributable to credit vouchers(s) issued by DECD for eligible
production expenses or costs incurred in 2023.
Lines 1 through 6, Columns B through D - Enter the amount for
each corresponding period. Do not include credit amounts forfeited.
Lines 2 through 5, Column E - Subtract Column D from Column C.
Line 6, Column E - Subtract Column D from Column A.
Members included in 2023 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.

Visit us at portal.ct.gov/DRS for more information.