CT SB00261

Extends the manufacturing apprenticeship tax credit to pass-through entities including S corporations, partnerships, and single-member limited liability companies, effective for income years commencing on or after January 1, 2018

Allows shareholders or partners of S corporations and partnerships to claim the apprenticeship tax credit, and permits owners of disregarded single-member LLCs to claim the credit

Maintains the existing credit amount of six dollars per hour multiplied by total hours worked by apprentices in the first half of a two-year term or first three-quarters of a four-year term, capped at $7,500 or 50% of actual wages paid, whichever is less

Applies the credit against taxes imposed under income tax chapters and chapter 229, excluding certain liabilities under section 12-707

Grandfathers prior rules allowing credit transfers by affected business entities for income years before January 1, 2018