There shall be allowed as a credit against the tax imposed on any corporation under this chapter which participates in the traffic reduction program established under section 13b-38p and conducted in this state, except corporations employing fewer than one hundred employees, with respect to any taxable year of such corporation commencing on or after January 1, 1997, an amount equal to fifty per cent of the amount spent in this state by such corporation, on or after January 1, 1995, for the direct costs of traffic reduction programs and services related thereto conducted in this state by such corporation in response to the provisions of sections 13b-38o, 13b-38p, 13b-38t, 13b-38v and 13b-38x, not to exceed two hundred fifty dollars annually per employee employed in this state and participating in alternative means of commuting pursuant to traffic reduction programs conducted in this state. The total amount of credits available under the provisions of this section shall not exceed one million five hundred thousand dollars. The Department of Transportation shall adopt regulations in accordance with the provisions of chapter 54 which shall include, but not be limited to, establishing procedures for a corporation to obtain and qualify for the tax credit.
(May Sp. Sess. P.A. 94-4, S. 45, 85; P.A. 95-160, S. 34, 64, 69; 95-325, S. 14, 16; P.A. 96-139, S. 12, 13; 96-223, S. 6, 8; P.A. 00-174, S. 23, 83.)
History: May Sp. Sess. P.A. 94-4, S. 45, effective June 9, 1994, and applicable to income years commencing on or after January 1, 1995; P.A. 95-160 changed on or after January 1, 1995, to January 1, 1997, re taxable years when credit is allowed, effective June 1, 1995, applicable to income years commencing on or after January 1, 1995 (Revisor's note: P.A. 95-160 also revised effective date of May Sp. Sess. P.A. 94-4 but without affecting this section); P.A. 95-325 allowed as a credit such amount spent by a corporation “on or after January 1, 1995”, effective July 13, 1995; P.A. 96-139 changed effective date of P.A. 95-160 but without affecting this section; P.A. 96-223 specified that credit be applicable to any corporation which participates in the traffic reduction program under Sec. 13b-38p, substituted “traffic reduction” for “transportation management” programs and made technical changes, effective July 1, 1996; P.A. 00-174 specified that section applies to programs conducted in this state for employees employed in this state, effective May 26, 2000, and applicable to income years commencing on or after January 1, 2000.
Structure Connecticut General Statutes
Chapter 208 - Corporation Business Tax
Section 12-213. - Definitions.
Section 12-214. - Imposition of tax. Surcharge.
Section 12-216. - Payment of tax by out-of-state corporations.
Section 12-217aa. - Order of credits.
Section 12-217aaa. - Accumulated research and development tax credits.
Section 12-217bb. - Tax credit for electric suppliers hiring displaced workers.
Section 12-217dd. - Tax credit for donation of land for open space or educational use.
Section 12-217ee. - Refund of unused credits under sections 12-217j and 12-217n.
Section 12-217gg. - Tax credit for employment expansion project.
Section 12-217hh. - Tax credit for hiring displaced worker.
Section 12-217j. - Tax credit for research and experimental expenditures.
Section 12-217jj. - Film production tax credit. Regulations.
Section 12-217k. - Tax credit for employee training.
Section 12-217ll. - Tax credit for digital animation production companies. Regulations.
Section 12-217m. - Tax credit for taxpayers occupying new facilities and creating new jobs.
Section 12-217n. - Rolling tax credit for research and development expenses. Carryforward limit.
Section 12-217o. - Tax credit for machinery and equipment expenditures.
Section 12-217p. - Tax credits for taxpayer providing housing for low and moderate income employees.
Section 12-217qq. - Tax credit for employers making certain student loan payments.
Section 12-217s. - Tax credit for expenditures related to traffic reduction programs.
Section 12-217v. - Tax credit for qualifying corporations in enterprise zones.
Section 12-217w. - Tax credit for investment in fixed capital.
Section 12-217x. - Tax credit for human capital investment.
Section 12-217z. - Business Tax Credit and Tax Policy Review Committee.
Section 12-217zz. - Limit on credits under this chapter.
Section 12-218. - Apportionment of net income.
Section 12-218a. - Apportionment of tax on insurance company.
Section 12-218b. - Apportionment of net income of financial service companies.
Section 12-218g. - Net deferred tax liability and assets. Deductions.
Section 12-219. - Capital base tax. Phase-out. Surcharge.
Section 12-219a. - Apportionment of tax base in and out of state. Insurance companies excepted.
Section 12-219b. - Election with respect to apportionment of net income.
Section 12-221a. - Petition for alternative method of apportionment. Regulations.
Section 12-222. - Annual return. Designated taxable member of combined group. Duties.
Section 12-223. - Returns of affiliated corporations.
Section 12-223a. - Combined corporation business tax return.
Section 12-223b. - Intercompany rents and business receipts.
Section 12-223c. - Minimum tax in combined return.
Section 12-223d. - Assessments against one or more taxpayers in combined return.
Section 12-223e. - Readjustment of taxes on revision of combined return.
Section 12-223f. - Preference tax due from corporations filing a combined return.
Section 12-224. - Return of fiduciary.
Section 12-225. - Supplemental and amended returns. Refund claim.
Section 12-226. - Correction of returns; additional tax; refunds.
Section 12-226a. - Adjustments by the commissioner. Regulations.
Section 12-227. - Interest on refunds.
Section 12-228. - Refunds to be made from General Fund.
Section 12-229. - Failure to pay tax or make return. Penalty. Waiver of penalty authorized.
Section 12-230. - Forfeiture of corporate rights for failure to make returns.
Section 12-231a. - Formation of insurance company affiliate of holding company to evade tax.
Section 12-232. - Authority to take testimony under oath; subpoenas.
Section 12-234. - Settlement with Treasurer.
Section 12-235. - Delinquent taxes; interest; collection.
Section 12-235a. - Disallowance of credits if taxes due and unpaid.
Section 12-236. - Hearing by commissioner.
Section 12-238. - Abatement of taxes.
Section 12-239. - Abatement of taxes on motor bus company in receivership.
Section 12-240. - Publication and disclosure of information.
Section 12-241. - Tax to be in lieu of other taxes.
Section 12-241a. - Definition.
Section 12-242. - Regulations.
Section 12-242d. - Installment payment of estimated tax. Interest on under payments.
Section 12-242e. - Disposition of installments.
Section 12-242f. - Obligations of fiduciary.
Section 12-242g. - Overpayments.