Form CT-1120GB Green Buildings Tax Credit - Connecticut

What Is Form CT-1120GB?

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-1120GB?
A: Form CT-1120GB is a tax form used in Connecticut to claim the Green Buildings Tax Credit.

Q: What is the Green Buildings Tax Credit?
A: The Green Buildings Tax Credit is a tax incentive offered by the state of Connecticut to encourage the construction or renovation of energy-efficient buildings.

Q: Who is eligible for the Green Buildings Tax Credit?
A: Any taxpayer who owns or leases a qualifying energy-efficient building in Connecticut may be eligible for the Green Buildings Tax Credit.

Q: What types of buildings are eligible for the tax credit?
A: Both new construction and renovation projects that meet certain energy-efficiency criteria may be eligible for the Green Buildings Tax Credit.

Q: How much is the Green Buildings Tax Credit worth?
A: The amount of the tax credit varies depending on the energy efficiency of the building and other factors. The maximum credit is 10% of the eligible expenses.

Q: How do I claim the Green Buildings Tax Credit?
A: To claim the Green Buildings Tax Credit, you must complete Form CT-1120GB and attach it to your Connecticut corporate income tax return.

Q: Are there any deadlines for claiming the tax credit?
A: Yes, the application for the Green Buildings Tax Credit must be filed within one year from the date the building is ready for occupancy or within 60 days after the issuance of the certificate of occupancy, whichever is later.

Q: Is the Green Buildings Tax Credit refundable?
A: Yes, the Green Buildings Tax Credit is refundable, which means that if the credit exceeds the taxpayer's liability, the excess can be refunded to the taxpayer.