Screen CTFCIC - Connecticut Fixed Capital Investment Credit (1120)

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Fixed Capital Investment Credit and Carryforward

Fixed capital expenditures made during current income year
Use the statement to enter the detail of fixed capital expenditures made during the current income year and qualify for credit. The statement detail prints as a submittable statement with the corporate return.
Less fixed capital expenditures applied against any other credit
Enter the current year fixed capital expenditures included in the total current year fixed capital expenditures, and were applied against any credit other than the fixed capital expenditure credit.
Total Credit Earned
Enter the total amount of fixed capital expenditure credit earned in each of the preceding five years which has not been fully utilized. The application uses this information to complete Form FCIC, Page 2.
Prior Year Credit Applied
Enter the total amount of fixed capital expenditure credit earned in each of the preceding five years which has been utilized in prior years. The application uses the remainder a carryover available to the current year on Form FCIC, Page 2.

Fixed Capital Investment Credit Recapture

Fixed capital investment credit subject to 50% recapture
Enter the amount of fixed capital investment credit taken in a prior year which is subject to be recaptured in the current year at 50 percent of the original credit due to not holding the fixed capital for a full five years following its acquisition. The application uses this information to complete Form FCIC, Part III.
Fixed capital investment credit subject to 100% recapture
Enter the amount of fixed capital investment credit taken in a prior year which is subject to be recaptured in the current year at 100 percent of the original credit due to not holding the fixed capital for a full three years following its acquisition. The application uses this information to complete Form FCIC, Part III.

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