CT SB01017

Allows affected business entities to use manufacturing apprenticeship tax credits to offset state taxes due under chapters 208 or 219, effective for income years commencing on or after January 1, 2015.

Permits affected business entities to sell, assign, or transfer apprenticeship tax credits to other taxpayers to offset state taxes under chapters 208, 212, or 227.

Limits the number of times a credit may be sold, assigned, or transferred to no more than three times.

Manufacturing apprenticeship tax credits are calculated at six dollars per hour worked during the income year, capped at $7,500 or 50 percent of actual wages paid to apprentices, whichever is less.

Effective July 1, 2015, and applicable to taxable and income years commencing on or after January 1, 2015.