Connecticut Human Capital Investment Credit

Human Capital Investment Credit
Form CT-1120 HCIC
Department of Revenue Services
State of Connecticut
(Rev. 12/23)

2023

Form CT-1120 HCIC

Human Capital Investment Tax Credit

For Income Year Beginning: ___________________________ , 2023 and Ending: ___________________________ , __________ .
Connecticut Tax Registration Number

Corporation name

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.

Training is the instruction, maintenance, or improvement of the
skills required by the employer for the proper performance of the
employee’s duties that are conducted in Connecticut.

Use Form CT‑1120 HCIC to claim the credit available under Conn.
Gen. Stat. § 12‑217x.

Expenditures are those amounts paid or incurred for the income
year.

Required Attachments

Carryforward/Carryback

This form must be accompanied by a detailed schedule that
identifies the dates, locations, and descriptions of the training
programs, and the expenditures for each program. All other
requested schedules must also be attached.

Any remaining tax credit balance that exceeds the tax credit applied
may be carried forward for five succeeding income years. No
carryback is allowed.

Definitions

A corporation may not use the same expenditures that it used to
claim the human capital investment credit in order to claim any other
tax credit against any Connecticut tax.

Human Capital Investment means the amount paid or incurred
by a corporation on: in-state job training of persons employed in
Connecticut; work education programs in Connecticut including but
not limited to programs in public high schools and work educationdiversified occupation programs; in-state training and education
of persons employed in Connecticut provided by institutions of
higher learning in Connecticut; donations or capital contributions
to institutions of higher learning in Connecticut for technical
improvements, including physical plant improvements; planning,
site preparation, construction, renovation, or acquisition of facilities
in Connecticut for the purpose of establishing a day care facility in
Connecticut; child care subsidies paid to employees employed in
Connecticut; and contributions made to the Individual Development
Account Reserve Fund.

Additional Information

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

Part I - Credit Computation
	 1.	 Enter expenditures for in-state job training of employees employed in Connecticut.
Attach detailed schedule.	

1.

	 2.	 Enter expenditures for work education programs in Connecticut.
Attach detailed schedule.	

2.

	 3.	 Enter expenditures for in-state training and education of persons employed in Connecticut provided
by institutions of higher learning in Connecticut. Attach detailed schedule.	

3.

	

	 Enter donations or capital contributions to institutions of higher learning
4. in Connecticut. Attach a schedule listing the names of the institutions
and the amounts of donations.	

4.

	 5.	 Enter expenditures for planning, site preparation, construction, renovation, or acquisition of facilities
5.
in Connecticut for the purpose of establishing a day care facility in Connecticut. Attach detailed schedule.	
	

	 Enter expenditures for child care subsidies paid to employees employed in Connecticut.
Attach a schedule listing the name, address, and Social Security Number of each employee who
6. received a subsidy, the amount of the subsidy, and the name, address, and Taxpayer Identification
Number of the child care provider.	

6.

	 7.	 Enter contributions made to the Individual Development Account Reserve Fund. Attach detailed schedule.	

7.

	 8.	 Total Human Capital Investment expenditures: Add Lines 1 through 7.	

8.

	9.	 Tax credit: Multiply Line 8 by 5% (.05). Enter here and on Form CT-1120K. Part I-C, Column B.	

9.

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
Earned

B

Credit
Applied 2018
Through 2022

C

Carryforward
to 2023
Subtract Column B
from Column A.

2018 Human Capital Investment tax
1. credit, from 2018 Form
CT-1120 HCIC, Part I, Line 9
2019 Human Capital Investment
2. tax credit, from 2019 Form
CT-1120 HCIC, Part I, Line 9
2020 Human Capital Investment
3. tax credit, from 2020 Form
CT-1120 HCIC, Part I, Line 9
2021 Human Capital Investment
4. tax credit, from 2021 Form
CT-1120 HCIC, Part I, Line 9
2022 Human Capital Investment
5. tax credit, from 2022 Form
CT-1120 HCIC, Part I, Line 9
2023 Human Capital Investment
6. tax credit, from 2023 Form
CT-1120 HCIC, Part I, Line 9
7.

Total Human Capital Investment tax credit applied to 2023:
Add Lines 1 through 6, Column D.

8. Total Human Capital Investment tax credit carryforward to 2024: Add Lines 2 through 6, Column E.

Computation of Carryforward Instructions
Lines 1 through 6, Columns A 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-1120 HCIC Back (Rev. 12/23)

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

D

Credit
Applied to
2023

E

Carryforward
to
2024