Form CT-1120DA Digital Animation Tax Credit - Connecticut

What Is Form CT-1120DA?

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 Form CT-1120DA?
A: Form CT-1120DA is a tax form used to claim the Digital Animation Production Tax Credit in Connecticut.

Q: Who can use Form CT-1120DA?
A: Any corporation or pass-through entity that is eligible for the Digital Animation Production Tax Credit in Connecticut can use Form CT-1120DA.

Q: What is the Digital Animation Production Tax Credit?
A: The Digital Animation Production Tax Credit is a tax incentive offered by the state of Connecticut to promote digital animation production in the state.

Q: What expenses can be claimed on Form CT-1120DA?
A: Expenses related to digital animation production, including wages, equipment purchases, and post-production costs, can be claimed on Form CT-1120DA.

Q: Is there a deadline for filing Form CT-1120DA?
A: Yes, the deadline for filing Form CT-1120DA is the same as the deadline for filing the corresponding taxpayer's return or 10 months after the close of the income year, whichever is later.

Q: Are there any limitations or restrictions on the Digital Animation Production Tax Credit?
A: Yes, there are certain limitations and restrictions on the Digital Animation Production Tax Credit, including a cap on the total amount of credits that can be issued and requirements for the minimum amount of digital animation production activity in Connecticut.

Q: Can the Digital Animation Production Tax Credit be carried forward or transferred?
A: Yes, any unused tax credits can be carried forward for up to 5 years or transferred to another eligible entity.

Q: What supporting documentation is required for Form CT-1120DA?
A: Supporting documentation such as payroll records, receipts, and invoices related to digital animation production expenses should be kept on file but do not need to be submitted with the form.