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Get Form Ct-1120 Fcic 0 0 0 - Formsend
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How to fill out the Form CT-1120 FCIC - FormSend online
Filling out the Form CT-1120 FCIC is essential for corporations seeking to claim the Fixed Capital Investment Credit in Connecticut. This guide provides a straightforward, step-by-step approach to completing the form online for a smooth submission experience.
Follow the steps to successfully complete your form.
- Click the ‘Get Form’ button to access the form and open it in the online editor. This will allow you to work on your submission directly.
- Begin by entering your corporation's name and the Connecticut tax registration number at the top of the form.
- In Part I, provide details of your fixed capital investment expenditures made during the income year. Ensure you attach a detailed schedule that outlines the fixed capital acquired, including the date of acquisition, cost, location in Connecticut, and the vendor.
- On Line 2 of Part I, list any fixed capital expenditures that were also applied to other corporate business tax credits.
- Subtract the amount in Line 2 from Line 1 and enter the result on Line 3, as this will determine the eligible credit amount.
- Multiply the amount in Line 3 by 5% (0.05) to calculate the tax credit. Enter this amount on Line 4 as well as on Form CT-1120K, Part I-D, Line 20, Column B.
- Proceed to Part II to compute the credit carryforward for five succeeding income years. Complete the required lines based on previous filings.
- In Part III, calculate any fixed capital investment credit amounts from previous years that need to be recaptured. Make sure to attach detailed schedules for these amounts.
- Add the recapture amounts and enter the total on Line 3 of Part III, also noting it on Form CT-1120, Schedule C, Line 1b.
- Once all entries are complete, review the form carefully for any errors. You may then save changes, download, print, or share the completed form.
Start filling out your Form CT-1120 FCIC online to claim your credit today!
The due date for filing Form CT-1120 FCIC 0 0 0 - FormSend generally falls on the 15th day of the fourth month after the end of your tax year. For many businesses, this means the deadline is April 15 if your tax year aligns with the calendar year. However, if you need more time, you can file for an extension. Using US Legal Forms can help you stay organized and meet your deadlines efficiently.
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