Form CT-AIT Angel Investor Tax Credit - Connecticut

What Is Form CT-AIT?

This is a legal form that was released by the Connecticut Department of Revenue Services - a government authority operating within Connecticut. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the CT-AIT Angel Investor Tax Credit?
A: The CT-AIT Angel Investor Tax Credit is a tax credit program offered in Connecticut to encourage investments in eligible startup businesses.

Q: Who is eligible for the CT-AIT Angel Investor Tax Credit?
A: Individuals or entities making qualified investments in eligible startup businesses in Connecticut may be eligible for the CT-AIT Angel Investor Tax Credit.

Q: How much is the CT-AIT Angel Investor Tax Credit?
A: The tax credit is equal to 25% of the amount invested in a Qualified Small Business, up to a maximum credit of $250,000 per year.

Q: What is a Qualified Small Business?
A: A Qualified Small Business is a business that is engaged in advanced technology, bioscience, information technology, green technology, or photonics and meets certain criteria specified by the program.

Q: How can I apply for the CT-AIT Angel Investor Tax Credit?
A: You can apply for the CT-AIT Angel Investor Tax Credit by submitting an application to the Department of Economic and Community Development.

Q: Are there any restrictions on the CT-AIT Angel Investor Tax Credit?
A: Yes, there are certain restrictions on the tax credit, including limits on the total amount of tax credits available and the number of tax credits that can be claimed per year.

Q: Is the CT-AIT Angel Investor Tax Credit refundable?
A: No, the CT-AIT Angel Investor Tax Credit is not refundable. It can only be used to offset your state tax liability.

Q: Are there any reporting requirements for the CT-AIT Angel Investor Tax Credit?
A: Yes, if you claim the tax credit, you are required to report certain information about the investment on your state tax return.