CT-1120ATP: Accredited Theater Production Tax Credit (2024)
Connecticut · Connecticut DRS · Used for tax years 2024
Form CT-1120 ATP is used to claim Connecticut’s Accredited Theater Production Tax Credit. It reports DECD tax credit voucher information, the credit applied to 2024 taxes, and the credit available in 2025.
Who files this form
Use Form CT-1120 ATP to claim the Accredited Theater Production tax credit. Schedule A allows the claimant to be an eligible production company or an assignee.
The credit may be claimed against Connecticut Insurance Companies and Health Care Centers Taxes, Corporation Business Tax, Utility Companies Tax, or Income Tax, except liability imposed by section 12-707.
You cannot claim the credit until the Connecticut Department of Economic and Community Development (DECD) issues a tax credit certification letter stating the available credit amount.
What you'll need
- A DECD tax credit certification letter stating the available credit amount.
- DECD tax credit voucher information, including the voucher number, the year eligible expenditures were incurred, and the qualified credit amount.
- A copy of Schedule A for each tax credit voucher.
- Your entity name, Connecticut Tax Registration Number, and income year beginning and ending dates.
- If you are an assignee, the assignor's name and Connecticut Tax Registration Number, if available, plus an attached explanation.
- Form CT-1120K, Business Tax Credit Summary, if you are applying the credit against Corporation Business Tax.
How to file
Complete the 2024 form in blue or black ink. Enter your entity information and income year dates, and complete a separate Schedule A for each tax credit voucher.
For the credit computation:
- On Line 4, Column A, enter the total from Schedule A, Line 3, attributable to DECD vouchers for eligible production and performance expenses or costs incurred in 2024.
- Enter the amounts for each corresponding period in Columns B through D. Do not include forfeited credits.
- On Line 4, Column E, subtract Column D from Column A.
- On Line 5, total Lines 1 through 4, Column D, for the credit applied to 2024.
- On Line 6, total Lines 2 through 4, Column E, for the credit available in 2025.
If applying the credit against Corporation Business Tax, attach Form CT-1120 ATP to Form CT-1120K, Business Tax Credit Summary.
The form does not provide a mailing address or e-file instructions.
Common mistakes
- Using the wrong year's form. The form says the correct year's version must be used.
- Using ink other than blue or black, or using staples.
- Claiming the credit before DECD issues a tax credit certification letter.
- Failing to attach a copy of Schedule A for each tax credit voucher.
- Including forfeited credit amounts in Columns B through D.
- For members included in the 2024 Form CT-1120CU combined return, omitting from Column D credits shared to and used by another member of the combined group.
Questions people ask
How much is the credit?
A credit of 30% of the accredited theater production's production and performance expenditures may be allowed. Schedule A asks for the qualified credit amount shown on the DECD tax credit voucher.
What is an accredited theater production?
It is a for-profit live stage presentation that is a pre-Broadway production, a post-Broadway production, or a live theatrical tour, performed at a qualified production facility.
What kinds of expenditures are included?
The definition includes a contemporaneous exchange of cash or cash equivalent for goods or services related to development, production, or performance, or operating expenditures incurred in Connecticut for an accredited theater production. Examples include sets, costumes, sound, lighting, facility expenses, payroll, advertising, and transportation.
Can unused credit be carried forward?
The credit must be claimed for the income or taxable year in which it was earned. It may be carried forward for no more than the three immediately succeeding income or taxable years.
Where can I find more information?
The form directs taxpayers to the Guide to Connecticut Business Tax Credits on the Department of Revenue Services website at portal.ct.gov/DRS.