CT-1120 FP: Film Production Tax Credit (2025)
Connecticut · Connecticut DRS · Used for tax years 2025
Form CT-1120FP is used to claim Connecticut’s Film Production Tax Credit for qualified film production. It reports tax credit voucher details, credits applied to taxes, any forfeited amounts, and credits available for future use.
Who files this form
Use the 2025 Form CT-1120FP to claim Connecticut’s Film Production Tax Credit for qualified film production. The claimant may be an eligible production company or an assignee.
You cannot claim the credit until the Connecticut Department of Economic and Community Development (DECD) issues a tax credit voucher listing the available credit amount.
What you'll need
- DECD tax credit voucher information: You need the voucher number, issue date, year the eligible expenses were incurred, and credit amount listed on the voucher.
- A separate Schedule A for each voucher: Attach a copy of Schedule A for each tax credit voucher.
- Taxpayer information: Enter the eligible taxpayer’s name, Connecticut Tax Registration Number, and income-year beginning and ending dates.
- Credit-use records: The credit computation asks for credits earned for 2020 through 2025, credits applied during 2020 through 2024, and credits applied to 2025.
- Assignment information, if applicable: Assignees must enter the assignor’s name and Connecticut Tax Registration Number, if available, and attach an explanation.
Common mistakes
- Using the wrong year’s form: Each form is year-specific. Use the 2025 form for the income year beginning in 2025.
- Using an unsupported ink color or staples: Complete the form in blue or black ink only. Do not use staples.
- Claiming the credit before a voucher is issued: Wait until DECD issues the tax credit voucher.
- Including forfeited credit amounts: Do not include forfeited amounts in Credit Computation Columns B through D.
- Overlooking shared credits in a combined group: Members included in the 2025 Form CT-1120CU must include in Column D credits shared to and used by another member of the combined group.
Questions people ask
How much is the Film Production Tax Credit?
The percentage depends on qualified production expenses or costs:
- At least $100,000 but no more than $500,000: 10%.
- More than $500,000 but no more than $1 million: 15%.
- More than $1 million: 30%.
When can the credit be claimed?
For vouchers issued on or after July 1, 2015, all or part of the credit may be claimed in the year the production expenses or costs were incurred or in any of the five succeeding years.
Which taxes can the credit offset?
The form lists Insurance Companies and Health Care Centers Taxes, Corporation Business Tax, Community Antenna Television Systems and One-Way Satellite Transmission Businesses Tax, and Sales and Use Tax. Assigned credits are subject to additional limits for the latter two taxes.
Can the credit be assigned to someone else?
Yes. The credit may be assigned in whole or in part no more than three times.
What limits apply to assigned credits used against Sales and Use Tax?
There must be common ownership of at least 50% between the eligible production company and the taxpayer assigned the credit. Only 92% of the credit may be claimed against Sales and Use Tax; the remainder is forfeited.