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Connecticut Housing Program Contribution Credit
Extracted from PDF file 2023-connecticut-form-ct-1120-hpc.pdf, last modified November 2023Housing Program Contribution Credit
Department of Revenue Services State of Connecticut (Rev. 12/23) 2023 Form CT-1120 HPC Housing Program Contribution Tax Credit For Income Year Beginning: ___________________________ , 2023 and Ending: ___________________________ , __________ . Connecticut Tax Registration Number Corporation name Carryforward/Carryback Complete this form in blue or black ink only. Do not use staples. Any remaining tax credit balance that exceeds the credit applied may be carried forward for five succeeding income years or carried back for five preceding income years. Please note that each form is year specific. The correct year’s form must be used. Use Form CT‑1120 HPC to claim the tax credit allowed under Conn. Gen. Stat § 8‑395 to business firms that make cash contributions to housing programs that benefit low and moderate income individuals and families. Additional Information Contact Connecticut Housing Finance Authority (CHFA) Tax Credit Unit, 999 West Street, Rocky Hill CT 06067‑4005, at 860‑571‑4251. See the Guide to Connecticut Business Tax Credits available on the Department of Revenue Services (DRS) website at portal.ct.gov/DRS. This tax credit is administered by the Connecticut Housing Finance Authority (CHFA). To be entitled to claim this credit, CHFA must have issued the taxpayer a credit voucher, which indicates the amount of the available tax credit. Credit Computation Enter the amount of tax credit, as indicated on the credit voucher, in Part I. The allowable credit may be applied against the taxes administered under Chapters 207 (Insurance Companies and Health Care Centers Taxes), 208 (Corporation Business Tax), 209 (Air Carriers Tax), 210 (Railroad Companies Tax), 211 (Community Antenna Television Systems Tax), or 212 (Utility Companies Tax) of the Connecticut General Statutes. Part I - Credit Computation Enter the amount of tax credit as shown on the credit voucher issued by CHFA for contributions made in the 2023 income year. Enter here and on Form CT‑1120K, Part I‑A, Column A and/or Form CT‑207K, Part 1A, Column B. Part II - Computation of Carryforward Credit may be carried forward or back to the five succeeding or preceding income years. See instructions below. A Total Credit Earned B Credit Applied 2018 Through 2022 C Credit Carried Back to Prior Income Years D Credit Applied to 2023 E Carryforward to 2024 2018 Housing Program 1. Contribution tax credit, from 2018 Form CT-1120 HPC, Part I. 2019 Housing Program 2. Contribution tax credit, from 2019 Form CT-1120 HPC, Part I. 2020 Housing Program 3. Contribution tax credit, from 2020 Form CT-1120 HPC, Part I. 2021 Housing Program 4. Contribution tax credit, from 2021 Form CT-1120 HPC, Part I. 2022 Housing Program 5. Contribution tax credit, from 2022 Form CT-1120 HPC, Part I. 2023 Housing Program 6. Contribution tax credit, from 2023 Form CT-1120 HPC, Part I. 7. Total Housing Program Contribution tax credit applied to 2023: Add Lines 1 through 6 in Column D. 8. Total Housing Program Contribution tax credit carryforward to 2024: Add Lines 2 through 6, Column E. Computation of Carryforward and Carryback Instructions Lines 1 through 6, Columns A through D - Enter the amount for each corresponding year. Lines 2 through 5, Column E - Subtract Columns B, C, and D from Column A. Line 6, Column C - Any available credit must first be applied against the 2023 income year liability. Do not exceed the difference between Column A and Column D. Line 6, Column E - Enter any 2023 tax credits remaining after credits are applied to the 2023 income year and any credit carrybacks are claimed. 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.
Form CT-1120 HPC
More about the Connecticut Form CT-1120 HPC Corporate Income Tax Tax Credit TY 2023
We last updated the Housing Program Contribution Credit in February 2024, so this is the latest version of Form CT-1120 HPC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-1120 HPC directly from TaxFormFinder. You can print other Connecticut tax forms here.
Related Connecticut Corporate Income Tax Forms:
TaxFormFinder has an additional 85 Connecticut income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Connecticut Form CT-1120 HPC.
| Form Code | Form Name |
|---|---|
| Form CT-1120 A-LP | Corporation Business Tax Return Apportionment of Limited Partnership Interests |
| Form CT-1120 Instructions | Connecticut Corporation Business Tax Instructions |
| Form CT-1120 EXT | Application for Extension of Time to File Connecticut Corporation Tax Return |
| Form CT-1120X | Amended Corporation Business Tax Return |
| Form CT-1120 | Corporation Business Tax Return |
| Form CT-1120 MEC | Machinery and Equipment Expenditure Credit |
| Form CT-1120 CC | Authorization and Consent to be Included in a Combined Return |
| Form CT-1120 EDPC | Electronic Data Processing Equipment Property Tax Credit |
| Form CT-1120 ES | Estimated Corporation Business Tax Payment Coupons |
| Form CT-1120 FCIC | Fixed Capital Investment Credit |
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-1120 HPC from the Department of Revenue Services in February 2024.
Form CT-1120 HPC 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-1120 HPC
We have a total of twelve past-year versions of Form CT-1120 HPC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2016 Form CT-1120 HPC
CT-1120 HPC, 2016 Housing Program Contribution Tax Credit
2015 Form CT-1120 HPC
CT-1120 HPC, 2015 Housing Program Contribution Tax Credit
2014 Form CT-1120 HPC
CT-1120 HPC, 2014 Housing Program Contribution Tax Credit
2013 Form CT-1120 HPC
CT-1120 HPC, 2013 Housing Program Contribution Tax Credit
2012 Form CT-1120 HPC
CT-1120 HPC, Housing Program Contribution Tax Credit
2011 Form CT-1120 HPC
CT-1120 HPC, Housing Program Contribution Tax Credit
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