DRS: Computer Donation Tax Credit 01MAR2012

Computer Donation Tax Credit

Conn. Gen. Stat. 10-228b

 

This tax credit will not be available for income years beginning on or after January 1, 2014.

 

Description and Applicable Taxes

A tax credit may be applied against the taxes imposed under Chapters 207, 208, 209, 210, 211, or 212 of the Connecticut General Statutes for the donation of new or used computers to a local or regional board of education or a public or a nonpublic school. The used computers may not be more than two years old at the time of donation.

 

The amount of the tax credit granted to any business firm shall not exceed $75,000 annually.

 

 

Tax Credit Amount

The amount of tax credit must not exceed 50% of the fair market value of the new or used computers at the time of donation.

 

 

Carryforward and Carryback Limitations

No carryforward or carryback is allowed.

 

 

How to Apply

The business firm must submit Form CT-CDC, Computer Donation Credit Application, to the Department of Revenue Services (DRS). Along with the application, the business firm must provide a copy of the written agreement between the business firm and the local or regional board of education or public or nonpublic school. The written agreement will provide for the acceptance of the computers by the board of education or public or nonpublic school, an acknowledgement that the computers are in good working condition, and a requirement that the business firm install, set up, and provides training to school staff on these computers.

 

DRS will review each application and within 30 days following its receipt, approve or disapprove the application in writing.

 

Submit Form CT-CDC to:

Department of Revenue Services

Research Unit

25 Sigourney St Ste 2

Hartford CT 06106

 

 

How to Claim the Tax Credit

Report the tax credit amount on Form CT-1120K, Business Tax Credit Summary, and/or Form CT-207K, Insurance/Health Care Tax Credit Schedule.

 

 

Where to Get Additional Information

Direct inquiries to:

Connecticut Department of Revenue Services

Research Unit

25 Sigourney St Ste 2

Hartford CT 06106

860-297-5691

www.ct.gov/DRS

 

 

Statutory and Regulatory References

Conn. Gen. Stat. 10-228b

 

 

Last updated March 1, 2012