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Recapture Provisions

A taxpayer must recapture a percentage of the credit allowed if:

  • The number of new employees on account of which a taxpayer claimed the credit decreases to less than the number for which the commissioner issued an eligibility certificate during any of the four years succeeding the first full income year following the issuance of an eligibility certificate; and

  • Those employees are not replaced by other employees who have not been shifted from an existing location of the taxpayer or a related person in this state.

The taxpayer will be required to recapture a percentage of the credit as follows:

Where to Get Additional Information

Direct inquires to:

Department of Economic and Community Development 505 Hudson Street Hartford CT 06106

860-270-8045 www.ct.gov/ecd

REFERENCES: Conn. Gen. Stat. §12-217ii

Year

Percentage

Year 1

90%

Year 2

65%

Year 3

50%

Year 4

30%

50

Informational Publication 2006(15), Guide to Connecticut Business Tax Credits Issued: 04/24/07

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