Fixed Capital Investment Tax Credit (Connecticut)
Last modified on February 12, 2015.
|Applies to States or Provinces||Connecticut|
|Name||Fixed Capital Investment Tax Credit (Connecticut)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy|
|Program Administrator||Connecticut Department of Economic and Community Development|
The Fixed Capital Investment Tax Credit allows a tax credit of 5% of the amount paid for any new fixed capital investment. Companies with fewer than 800 full-time employees may take a tax credit for machinery and equipment purchased and installed in a facility. The credit is based on a percentage of the amount spent on machinery that exceeds the amount spend on machinery in the preceding income year. A tax credit of 5% of the incremental increase is available for companies with 251 to 800 full-time employees. Companies with fewer than 250 full-time employees may take a tax credit equal to 10% of the incremental increase.
|Department||Connecticut Department of Economic and Community Development|