Manufacturing, Plastics, and Plastics-Related Trades
For manufacturing, plastics, and plastics-related trades, the credit against the Connecticut corporation business tax is computed by multiplying the total number of apprentice work hours during the income year by $4. This credit may only be taken during the first half of a two-year apprenticeship or the first three-quarters of a four-year apprenticeship.
The credit may not exceed 50% of actual wages paid to each apprentice in the income year or $4,800, whichever is less.
No carryforward or carryback is allowed. How to Apply
To apply for the credit, contact CTDOL at 860-263-6085 or www.ctapprenticeship.com to obtain an Apprenticeship Tax Credit Worksheet and a Monthly Worksheet. Completed worksheets with verification of hours worked by each apprentice should be submitted to:
Connecticut Department of Labor Apprenticeship Training Unit 200 Folly Brook Blvd. Wethersfield CT 06109
For construction trades, the credit is computed by multiplying the total number of hours completed by each apprentice over the first four income years of the apprenticeship by $2.
Where to Get Additional Information
The credit may not exceed 50% of actual wages paid to each apprentice in the income year or $4,000, whichever is less.
Direct inquires to CTDOL,Apprenticeship Training Unit, at the above address and telephone number.
The credit is awarded upon completion and notification of completion, in the income year in which completion and notification of completion of the apprenticeship program occur.
Conn. Gen. Stat. §§12-217g and 31-51b; Conn. Agencies Regs. §§12-217g-1 through 12-217g-10
How to Compute the Credit
The Connecticut Department of Labor (CTDOL) will compute the tax credit and issue a Corporate Tax Credit Certification letter to the taxpayer. The amount listed on the Corporate Tax Credit Certification letter should be entered on Form CT-1120K, Business Tax Credit Summary.
Informational Publication 2006(15), Guide to Connecticut Business Tax Credits Issued: 04/24/07