Connecticut Small Business Guaranty Fee Tax Credit

Small Business Guaranty Fee Tax Credit
CT-1120 SBA,  2013 Small Business Administration Guaranty Fee Tax Credit
Department of Revenue Services
State of Connecticut
(Rev. 12/13)

Form CT-1120 SBA

Small Business Administration Guaranty Fee Tax Credit

2013

For Income Year Beginning:_ _______________________ , 2013 and Ending:_________________________ ,__________ .
Connecticut Tax Registration Number

Corporation name

Definition

Complete this form in blue or black ink only.

Small business means any business entity qualifying as
a small business under 13 CFR Part 121, which has gross
receipts of not more than $5 million for the income year in
which the credit is first allowed.

Use Form CT-1120 SBA to claim the credit allowed under
Conn. Gen. Stat. §12-217cc. Attach it to Form CT-1120K,
Business Tax Credit Summary.

Credit Computation

Additional Information

A tax credit is allowed against the Connecticut corporation
business tax in an amount equal to the amount paid by a
small business to the federal Small Business Administration,
as a guaranty fee to obtain guaranteed financing.

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).

Carryforward/Carryback

Any remaining credit balance that exceeds the credit applied
may be carried forward to four succeeding income years.

Part I – Credit Computation
Enter the amount paid to the federal Small Business Administration as a guaranty fee to obtain guaranteed
financing in the 2013 income year. Enter here and on Form CT-1120K, Part I-D, Column B.

Part II – Computation of Carryforward

Credit may be carried forward to four succeeding income years. See instructions below.

A

Total
Credit
Earned

B

C

Credit
Carryforward to 2013
Applied
Subtract Column B
2009 Through 2012
from Column A.

	 	 2009 Small Business Administration
1. Guaranty Fee tax credit from
2009 Form CT-1120 SBA, Part I.
	 	 2010 Small Business Administration
2. Guaranty Fee tax credit from
2010 Form CT-1120 SBA, Part I.
	 	 2011 Small Business Administration
3. Guaranty Fee tax credit from
2011 Form CT-1120 SBA, Part I.
	 	 2012 Small Business Administration
4. Guaranty Fee tax credit from
2012 Form CT-1120 SBA, Part I.
	 	 2013 Small Business Administration
5. Guaranty Fee tax credit from
2013 Form CT-1120 SBA, Part I.
	 6.	 Total Small Business Administration Guaranty Fee tax credit applied to 2013:
		 Add Lines 1 through 5, Column D. Enter here and on Form CT-1120K, Part I-D, Column C.
	 	 Total Small Business Administration Guaranty Fee Tax Credit Carryforward to 2014: Add Lines 2 through 5,
7. Column E. Enter here and on Form CT-1120K, Part I-D, Column E.
		

Computation of Carryforward Instructions
Lines 1 through 5, Columns A through D - Enter the amount for each corresponding year.
Lines 2 through 4, Column E - Subtract Column D from Column C.
Line 5, Column E - Subtract Column D from Column A.

D

Credit
Applied to
2013

E

Carryforward
to 2014