How to Compute the Credit
Employer-Assisted Housing Tax Credit
Complete Form CT-1120 EAH, Employer-Assisted Housing Credit, to claim this credit. Attach Form CT-1120 EAH to Form CT-1120K, Business Tax Credit Summary.
This credit was repealed effective June 7, 2006.
The Employer-Assisted Housing Tax Credit was formerly allowed against the taxes administered under Chapters 207, 208, 209, 210, 211, or 212 of the Connecticut General Statutes. Business firms received tax credits equal to the amount contributed into a revolving loan fund established to provide loans for housing in Connecticut for low and moderate income employees of the business firm or any subsidiary of the business firm.
Tax credits earned before the credit was repealed may be carried forward or back for five succeeding or preceding income years.
Forms are available anytime from the DRS website at www.ct.gov/DRS or by calling the DRS Forms Unit at 1-800-382-9463 (Connecticut calls outside the Greater Hartford calling area only) and selecting Option 2 from a touch-tone phone, or 860-297-4753 (from anywhere).
TTY, TDD, and Text Telephone users only may transmit inquiries anytime by calling 860-297-4911.
Where to Get Additional Information
Direct inquiries to:
Connecticut Housing Finance Authority Employer Assisted Housing Tax Credit Unit 999 West Street Rocky Hill CT 06067-4005
Any business firm that does not loan at least 60% of the fund's capital within three years after the date the revolving loan fund is established will be required to recapture some or all of the previous tax credits claimed. The Connecticut Housing FinanceAuthority (CHFA) notifies the business firm and DRS that recapture is required, and the business firm must recapture the tax credit on the first tax return required to be filed on or after the date of the CHFA notice.
860-721-9501, Ext. 362 www.chfa.org
REFERENCES: Conn. Gen. Stat. §12-217p
Informational Publication 2006(15), Guide to Connecticut Business Tax Credits Issued: 04/24/07