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Department of Revenue Services State of Connecticut (Rev. 12/24)Form CT1120RCResearch and Experimental Expenditures Tax Credit2024For Income Year Beginning: ___ , 2024 and Ending: ___ , ___ . Connecticut
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The term 'for income year beginning' refers to the start date of a tax year during which individuals or entities must report their income and calculate their taxes owed.
Individuals or entities that earn income during the tax year, including self-employed individuals, corporations, and partnerships, are required to file for the income year beginning.
To fill out for the income year beginning, taxpayers must gather all relevant income documents, utilize the appropriate tax forms, complete sections regarding income, deductions, and credits, and submit the forms by the designated deadline.
The purpose of the income year beginning is to establish a reporting period for taxpayers to accurately report their earnings, pay taxes owed, and comply with tax regulations.
Taxpayers must report all sources of income, including wages, interest, dividends, and business income, as well as any deductions and credits they may be eligible for during the income year beginning.
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