CT HB05357

Allows a tax credit against income tax for agricultural food commodities (fruits, vegetables, dairy, eggs, poultry, or meat) grown or produced by the taxpayer and donated to recognized food banks or emergency feeding organizations in the state.

Credit amount equals 15 percent of the market value of donated products during the income year, with a maximum credit of $5,000 per year.

Unused credits may be carried forward for up to five succeeding income years until fully claimed.

Prohibits donors from receiving any compensation for donations and restricts the credit to commodities that are not embargoed, destroyed, adulterated, or unfit for human consumption.

S corporations, partnerships, and single-member LLCs may claim the credit through their shareholders, partners, or owners subject to Connecticut income tax.