Connecticut Small Business Job Creation Tax Credit

Small Business Job Creation Tax Credit
CT-1120 SBJ,   2014 Qualified Small Business Job Creation Tax Credit
Department of Revenue Services
State of Connecticut
(Rev. 12/14)

2014

Form CT-1120 SBJ
Qualified Small Business Job Creation Tax Credit

For Income Year Beginning: _______________________ , 2014 and Ending: ________________________ , _________ .
Connecticut Tax Registration Number

Name of corporation or business entity

Complete this form in blue or black ink only.

Credit Computation

Use Form CT-1120 SBJ to claim the credit allowed under Conn.
Gen. Stat. §12-217nn. This form must be used to claim the tax
credit against the taxes imposed under Chapter 207 (insurance
premiums tax; health care centers tax), Chapter 208 (corporation
business tax), or Chapter 229 (income tax) of the Connecticut
General Statutes.

A qualified small business may earn a tax credit equal to $200 per
month for hiring a Connecticut resident. The new employee must
be hired to fill a full-time job during the income years beginning
on or after January 1, 2010, and before January 1, 2013. The tax
credit can be claimed in the income year of the hire and the next two
income years. No qualified small business may claim a tax credit
for a new employee who is an owner, member, or partner in the
business or who is not employed at the close of the income year of
the qualified small business.

Definitions
Full-time job means a job in which an employee is required to
work at least 35 or more hours per week for not less than 48 weeks
in a calendar year. Full-time job does not include temporary or
seasonal work.
Qualified small business means an employer who employs less
than 50 employees in Connecticut and is subject to tax under Conn.
Gen. Stat. Chapters 207, 208, or 229.
New employee means a person hired after May 6, 2010, by a
qualified small business. It does not include a person who was
employed in Connecticut by a person related to the qualified small
business during the prior 12 months.

To be eligible to claim this credit an application must be submitted
to and approved by the Department of Economic and Community
Development (DECD).

Additional Information
Contact DECD, Office of Business Development, 505 Hudson
Street, Hartford, CT 06106, 860-270-8215; 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).

Credit Computation If additional lines are needed, attach a worksheet. See instructions below.

A

B

C

D

Qualifying Employee Name

Employee
Social Security Number

Check if
Resident of
Connecticut

Date
of
Hire

E
Number of Full
Calendar Months
Employed in 2014

F
Column E Multiplied
by
$200

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

Tax credit: Add Lines 1 through 10, Column F. Enter here and on Form CT-1120K, Part I-B, Column A
and/or Form CT-207K, Part 1B, Column B. See instructions.

Line Instructions
Lines 1 through 10 - Enter corresponding amounts.
Line 11 - If filing Form CT-1065/CT-1120SI, allocate the amount on Line 11 among members in Part VII, Line 1. If filing Form CT-1041, enter
the amount on Line 11, 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 11, on Schedule CT-IT Credit, Line 2, Column C.