Tax & Financial Incentives in Connecticut
Urban and Industrial Site Reinvestment Tax Credit Program
This program allows for a dollar-to-dollar corporate tax credit up to 100% of capital investment on eligible projects with a min. investment of $5 million in distressed communities and $50 million in all other communities. The credits can be used over 10 years (see below table). If the company is not in a position to take advantage of the earned credits, they can be carried forward for 5 consecutive years or be transferred to another corporate taxpayer to be used in the same year the credits were earned.
- Years 1–3: 0%
- Years 4–7: 10%
- Years 8–10: 20%
For more information, visit the Connecticut Department of Economic & Community Development.
Category: Business, State
More Business, State