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Connecticut Urban and Industrial Site Reinvestment Credit
Extracted from PDF file 2023-connecticut-form-ct-uisr.pdf, last modified November 2023Urban and Industrial Site Reinvestment Credit
Department of Revenue Services State of Connecticut (Rev. 12/23) 2023 Form CT-UISR Urban and Industrial Site Reinvestment Tax Credit For Income Year Beginning: ___________________________ , 2023 and Ending: ___________________________ , __________ . Connecticut Tax Registration Number Name of eligible taxpayer 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‑UISR to claim the tax credit provided in Conn. Gen. Stat. § 32‑9t for investments in: • Eligible industrial site investment projects; • Eligible urban reinvestment projects; or • An eligible project for the preservation of a historic facility and redevelopment of the facility for mixed uses that includes at least four housing units as long as there is an investment with a total asset value of not less than $2 million. This form must be used to claim the credit against any combination of the taxes imposed under Chapters 207, 208, 208a, 209, 210, 211, or 212, or Conn. Gen. Stat. § 38a‑743. See instructions for Part II, Lines 1 through 5, Column A to claim all or part of a tax credit in 2023 that was earned in a prior year. Prior year tax credit amounts must not be included in Part I, Line 4. Available Credit The credit is allowable over ten years. The available credit for each income year is equal to the following percentages of the approved investments made by or on behalf of a taxpayer: • The income year in which the investment was made and the two succeeding income years, 0%; • The third full income year following the year in which the investment was made and the three succeeding income years, 10%; and • The seventh full income year following the year in which the investment was made and the two succeeding income years, 20%. This credit contains a recapture provision. General Information This credit is administered by the Department of Economic and Community Development (DECD). To be eligible for this credit, a written application must have been submitted to and approved by the Commissioner of DECD. Any taxpayer allowed a credit may assign the credit in part or in whole to another taxpayer, provided the assignee taxpayer may claim the credit only with respect to a taxable year for which the assignor taxpayer would have been eligible to claim the credit. Such assignee taxpayer may not further assign the credit. Additional Information See the Guide to Connecticut Business Tax Credits available on the Department of Revenue Services (DRS) website at portal.ct.gov/DRS. Applications and registration information can be obtained by contacting the Department of Economic and Community Development. Carryforward Any tax credit not used in the income year for which it is allowed may be carried forward for five immediately succeeding income years until the full credit has been applied. Part I - Credit Computation 1. Name of eligible industrial site investment or urban reinvestment projects in which the investment(s) was made: ______________________________________________________________________________________________________ 2. Available credit is being claimed by: An Investor An Assignee If credit is being claimed by an assignee, enter the name and Connecticut Taxpayer Identification Number (if available) of the assignor below. Attach explanation. ____________________________________________ Assignor’s name _________________________________________________ Assignor’s Connecticut Tax Registration Number 3. Credit is being applied against the tax imposed under: Chapter 207 (Insurance Premiums Tax; Health Care Centers Tax) Chapter 208 (Corporation Business Tax) Chapter 211 (Community Antenna Television Systems Chapter 208a (Unrelated Business Income Tax) and One-Way Satellite Transmission Businesses Tax) Chapter 209 (Air Carriers Tax) Chapter 212 (Utility Companies Tax) Chapter 210 (Railroad Companies Tax) Conn. Gen. Stat § 38a‑743 (Surplus Lines Brokers Tax) 4. Tax credit: Enter total amount of Urban and Industrial Site Reinvestment tax credit allowed for the 2023 income year. Enter here and on Form CT-1120K, Part I-C, Column B and/or Form CT-207K, Part 1C, Column B. Do not include any tax credit allowed for any year other than 2023. 4. 5. Enter the amount of Line 4 that is claimed on Form SL-9, Tax on Premiums on Insurance Provided by Surplus Lines Brokers. 5. Visit us at portal.ct.gov/DRS for more information. Part II - Computation of Carryforward Credit may be carried forward to five succeeding income years. See instructions below. A Total Credit Allowed B C Credit Carryforward to 2023 Applied Subtract Column B 2018 Through 2022 from Column A. 1. 2018 Urban and Industrial Site Reinvestment tax credit 2. 2019 Urban and Industrial Site Reinvestment tax credit 3. 2020 Urban and Industrial Site Reinvestment tax credit 4. 2021 Urban and Industrial Site Reinvestment tax credit 5. 2022 Urban and Industrial Site Reinvestment tax credit 6. 2023 Urban and Industrial Site Reinvestment tax credit 7. Total Urban and Industrial Site Reinvestment tax credit applied to 2023: Add Lines 1 through 6, Column D. D Credit Applied to 2023 8. Total Urban and Industrial Site Reinvestment tax credit carryforward to 2024: Add Lines 2 through 6, Column E. Computation of Carryforward Instructions Line 1, Column A - Enter amount from 2018 Form CT-UISR, Part I, Line 4. Line 2, Column A - Enter amount from 2019 Form CT-UISR, Part I, Line 4. Line 3, Column A - Enter amount from 2020 Form CT-UISR, Part I, Line 4. Line 4, Column A - Enter amount from 2021 Form CT-UISR, Part I, Line 4. Line 5, Column A - Enter amount from 2022 Form CT-UISR, Part I, Line 4. Line 6, Column A - Enter amount from Part I, Line 4 Lines 1 through 6, Columns B through D - Enter the amount for each corresponding year. 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. Form CT-UISR Back (Rev. 12/23) Visit us at portal.ct.gov/DRS for more information. E Carryforward to 2024
Form CT-UISR
More about the Connecticut Form CT-UISR Corporate Income Tax Tax Credit TY 2023
We last updated the Urban and Industrial Site Reinvestment Credit in February 2024, so this is the latest version of Form CT-UISR, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-UISR directly from TaxFormFinder. You can print other Connecticut tax forms here.
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TaxFormFinder has an additional 85 Connecticut income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form CT-NAICS | NAICS Codes for Principal Business Activity for Company |
| Form AU-796 | Reinstatement Guarantee Declaration for Non-Stock Corporations |
| Form AU-797 | Dissolution Guarantee Declaration for Stock Corporations |
| Form AU-798 | Dissolution Guarantee Declaration for Non-stock Corporations |
| Form AU-800a | Withdrawal Guarantee Declaration for Corporations |
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-UISR from the Department of Revenue Services in February 2024.
Form CT-UISR 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-UISR
We have a total of twelve past-year versions of Form CT-UISR in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2016 Form CT-UISR
CT-UISR, 2016 Urban and Industrial Site Reinvestment Tax Credit
2015 Form CT-UISR
CT-UISR, 2015 Urban and Industrial Site Reinvestment Tax Credit
2014 Form CT-UISR
CT-UISR, 2014 Urban and Industrial Site Reinvestment Tax Credit
2013 Form CT-UISR
CT-UISR, 2013 Urban and Industrial Site Reinvestment Tax Credit
2012 Form CT-UISR
CT-UISR, 2012 Urban and Industrial Site Reinvestment Tax Credit
2011 Form CT-UISR
CT-UISR, Urban and Industrial Site Reinvestment Tax Credit
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