Recordkeeping: investment tax credit
When claiming this credit, you must keep the following required documentation for your records:
- detailed description of the property
- explanation of how the property is used in the manufacturing process
- if the property is also used for research and development (R and D), an explanation that:
- describes how the property is used in R and D
- identifies the percentage of the property used in manufacturing and R and D compared to the total
- if claiming a building, provides a breakdown of the square footage used in manufacturing compared to the amount used in R and D
- depreciation reports and any related supporting schedules
- organizational chart that includes entity names, identification numbers, and percentage of ownership
Note: We may require additional information based on the specific facts of your credit claim.
To claim the credit, you’ll need to file either:
- Form CT-46, Claim for Investment Tax Credit, if you’re a corporation; or
- Form IT-212, Investment Tax Credit, if you’re not a corporation.
See Investment tax credit for detailed information about the credit and to access the credit forms.
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