Connecticut 2015 Job Expansion Tax Credit

2015 Job Expansion Tax Credit
CT-1120 JET, 2015 Job Expansion Tax Credit
Department of Revenue Services
State of Connecticut
(Rev. 12/15)

2015

Form CT-1120 JET
Job Expansion Tax Credit

For Income Year Beginning: _______________________ , 2015 and Ending: ________________________ , _________ .
Corporation name

General Information

Connecticut Tax Registration Number

3.

Complete this form in blue or black ink only.
Use Form CT-1120 JET, Job Expansion Tax Credit, to claim the
credit allowed under Conn. Gen. Stat. §12-217pp. This form must be
used to claim the tax credit against the taxes imposed under Chapter
207 (insurance premiums tax; health care centers tax), or Chapter
208 (corporation business tax). To take this tax credit against the tax
imposed by Chapter 229 of the Connecticut General Statutes, see
the applicable income tax instruction booklet.
This credit is administered by the Connecticut Department of
Economic and Community Development (DECD). To be eligible to
claim this credit an application must have been submitted to and
approved by DECD.
Credit Computation

Is a full-time job or, in the case of a qualifying employee, is a job
in which an employee is required to work at least twenty hours
per week for not less than forty-eight weeks in a calendar year.

Qualifying employee means a new employee who, at the time of
hiring by the taxpayer:
1.

Is receiving unemployment compensation;

2.

Has exhausted unemployment compensation benefits and has
not had an intervening full-time job;

3.

Is receiving vocational rehabilitative services from the Department
of Rehabilitation Services;

4.

Is receiving employment services from the Department of Mental
Health and Addiction Services; or

5.

Is participating in employment opportunities and day services,
defined in Conn. Gen. Stat. §17a-226, operated or funded by the
Department of Developmental Services.

The tax credit is equal to:
•

$500 per month for each new employee.

Related person means:

•

$900 per month for each veteran employee or qualifying
employee.

1.

A corporation, limited liability company, partnership, association
or trust controlled by the taxpayer;

The new employee must be hired to fill a new job after January 1,
2012, and before January 1, 2014. The tax credit can be claimed in
the income year of the hire and the next two income years.

2.

An individual, corporation, limited liability company, partnership,
association or trust that is in control of the taxpayer;

3.

A corporation, limited liability company, partnership, association
or trust controlled by an individual, corporation, limited liability
company, partnership, association or trust that is in control of
the taxpayer; or

4.

A member of the same controlled group as the taxpayer.

Definitions
Full-time job means a job in which an employee is required to work
at least thirty-five hours per week for not less than forty-eight weeks
in a calendar year. “Full-time job” does not include a temporary or
seasonal job.
New employee means a person who resides in this state and is hired
by a taxpayer on or after January 1, 2012, and prior to January 1,
2014, to fill a new job. “New employee” does not include a person
who was employed in this state by a related person with respect to
a taxpayer during the prior twelve months.
New job means a job that:
1.

Did not exist in this state prior to a taxpayer’s application to DECD
for certification under this section for a job expansion tax credit;

2.

Is filled by a new, qualifying, or veteran employee, and

Veteran employee means a new employee who, at the time of hiring
by the taxpayer, is a member of, was honorably discharged from or
released under honorable conditions from active service in the armed
forces, as defined in Conn. Gen. Stat. §27-103.
Additional Information
Contact DECD, 505 Hudson Street, Hartford, CT 06106,
(860) 270-8215; or see the Guide to Connecticut Business Tax Credits
available on the Department of Revenue Services (DRS) website at
www.ct.gov/DRS; or contact DRS at 1-800-382-9463 (Connecticut
calls outside the Greater Hartford calling area only) or 860-297-5962
(from anywhere).

Part I - Credit Computation
1. Enter the amount from Part II, Line 11

1.

00

2. Enter the amount from Part III, Line 11

2.

00

3. Tax credit: Add Line 1 and Line 2. Enter here and on Form CT-1120K, Part I-B, Column A, and/or Form CT-207K,
Part 1B, Column B and Column C.

3.

00

If filing Form CT-1065/CT-1120SI, allocate the amount on Line 3 among members in Part VII, Line 2. If filing Form CT-1041, enter the amount on Line 3, on
Worksheet B, Line 7. If you are a sole proprietorship or a single member limited liability company that is disregarded as an entity separate from its owner and
subject to the provisions of Chapter 229 of the Connecticut General Statutes, enter the amount from Line 3, on Schedule CT-IT Credit, Line 4, Column C.

Part II - Qualifying or Veteran Employees- If additional lines are needed, attach a worksheet.
A
New Employee Name

1
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.

C
Check if
Resident
of CT

D
Date of Hire

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

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

___ ___ ___ ___ ___ ___ ___ ___

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

___ ___ ___ ___ ___ ___ ___ ___

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

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___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

B
Employee Social
Security Number

m

m

m

m

m

m

m

m

m

m

m

d

m

d

m

d

m

d

m

d

m

d

m

d

m

d

m

d

m

d

d

d

d

d

d

d

d

d

d

d

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

E
# of Full
Calendar
Months
Employed in
2015
y

y

y

y

y

y

y

y

y

y

F
Column E
Multiplied by $900

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

Total all amounts entered in Part II, Column F: Enter here and on Part I, Line 1

Part III - Other New Employees- If additional lines are needed, attach a worksheet.
A
New Employee Name

1
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.

C
Check if
Resident
of CT

D
Date of Hire

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



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

___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



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___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

___ ___ ___••• ___ ___ •••___ ___ ___ ___



___ ___ ___ ___ ___ ___ ___ ___

B
Employee Social
Security Number

m

m

m

m

m

m

m

m

m

m

m

m

m

m

m

m

m

m

m

m

d

d

d

d

d

d

d

d

d

d

Total all amounts entered in Part III, Column F: Enter here and on Part I, Line 2

Form CT-1120 JET Back (Rev. 12/15)

d

d

d

d

d

d

d

d

d

d

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

y

E
# of Full
Calendar
Months
Employed in
2015
y

y

y

y

y

y

y

y

y

y

F
Column E
Multiplied by $500

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00

y

00