DECD: Qualified Small Business Job Creation Tax Credit Program

The Qualified Small Business Job Creation Tax Credit Program provides incentives to Connecticut’s small businesses to hire new full-time employees. Under this program Connecticut-based businesses with less than fifty employees are eligible for a $200 per month tax credit for each new full-time employee they hire. Below are the guidelines for the program, a link to the application and the contact.

Program Guidelines

Credit Length: Taxable years 2010-2012

Credit Amount: $200 per month for each new full-time employee

Eligible Business Structures: Tax credit applies to all business structures

Eligible Business: Connecticut based-businesses with less than fifty employees

Eligible New Hire: A new employee residing in Connecticut that is hired between May 6, 2010, and prior to January 1, 2013, to fill a new full-time job. Full-time job means a job in which an employee is required to work at least thirty-five or more hours per week for not less than forty-eight weeks in a calendar year. Full-time job does not include a temporary or seasonal work. A new employee does not include a person who was employed in Connecticut by a related person with respect to the qualified small business during the prior twelve months. No qualified small business may claim a tax credit for any new employee who is an owner, member or partner in the business or who is not employed at the close of the income year of the qualified small business.

Application Process:

1. Company submits application with supporting documents and application fee.

2. Application is reviewed by DECD and if approved an eligibility certificate is issued to the company.

Fee: Application fee of $100 to be sent with application. Please make check payable to State of Connecticut, Department of Economic and Community Development.

Click on document link below for application.

You may link to State information page via the link below. New Haven businesses or prospective businesses should contact program officer below for assistance.
Follow this link for more information.

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