Sec. 12-745. Order of credits. - Connecticut Statutes

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Statutes > Connecticut > Title12 > Chap229 > Sec12-745

      Sec. 12-745. Order of credits. (a) Whenever a taxpayer is eligible to claim more than one income tax credit under this chapter, the credits shall be claimed for the taxable year in the following order: (1) Any credit under section 12-703; (2) any credit under section 12-704; (3) any credit under subsection (e) of section 12-700a; (4) any other credit that may not be carried forward to a succeeding taxable year or years, in the order in which the taxpayer may receive the maximum benefit; (5) any credit that may be carried forward to a succeeding taxable year or years with any credit carry-forward that will expire first being claimed before any credit carry-forward that will expire later or will not expire at all or if the credit carry-forwards will expire at the same time, in the order in which the taxpayer may receive the maximum benefit.

      (b) In no event shall any credit be claimed more than once.

      (P.A. 96-221, S. 18, 25.)

      History: P.A. 96-221 effective July 1, 1996.

State Codes and Statutes

Statutes > Connecticut > Title12 > Chap229 > Sec12-745

      Sec. 12-745. Order of credits. (a) Whenever a taxpayer is eligible to claim more than one income tax credit under this chapter, the credits shall be claimed for the taxable year in the following order: (1) Any credit under section 12-703; (2) any credit under section 12-704; (3) any credit under subsection (e) of section 12-700a; (4) any other credit that may not be carried forward to a succeeding taxable year or years, in the order in which the taxpayer may receive the maximum benefit; (5) any credit that may be carried forward to a succeeding taxable year or years with any credit carry-forward that will expire first being claimed before any credit carry-forward that will expire later or will not expire at all or if the credit carry-forwards will expire at the same time, in the order in which the taxpayer may receive the maximum benefit.

      (b) In no event shall any credit be claimed more than once.

      (P.A. 96-221, S. 18, 25.)

      History: P.A. 96-221 effective July 1, 1996.

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title12 > Chap229 > Sec12-745

      Sec. 12-745. Order of credits. (a) Whenever a taxpayer is eligible to claim more than one income tax credit under this chapter, the credits shall be claimed for the taxable year in the following order: (1) Any credit under section 12-703; (2) any credit under section 12-704; (3) any credit under subsection (e) of section 12-700a; (4) any other credit that may not be carried forward to a succeeding taxable year or years, in the order in which the taxpayer may receive the maximum benefit; (5) any credit that may be carried forward to a succeeding taxable year or years with any credit carry-forward that will expire first being claimed before any credit carry-forward that will expire later or will not expire at all or if the credit carry-forwards will expire at the same time, in the order in which the taxpayer may receive the maximum benefit.

      (b) In no event shall any credit be claimed more than once.

      (P.A. 96-221, S. 18, 25.)

      History: P.A. 96-221 effective July 1, 1996.