Connecticut § 12-217cc - Tax credit for certain small businesses obtaining financing from federal Small Business Administration. For income years commencing prior to January 1, 2014.
Full text of Connecticut Connecticut General Statutes § 12-217cc — Tax credit for certain small businesses obtaining financing from federal Small Business Administration. For income years commencing prior to January 1, 2014., with citation guidance and answers to common questions.
§ 12-217cc. Tax credit for certain small businesses obtaining financing from federal Small Business Administration. For income years commencing prior to January 1, 2014.
Sec. 12-217cc. Tax credit for certain small businesses obtaining financing from federal Small Business Administration. For income years commencing prior to January 1, 2014. (a) As used in this section, “small business” means any business entity qualifying as a small business under 13 CFR Part 121 which has gross receipts of not more than five million dollars for the income year in which the credit is first allowed.
(b) In any income year commencing prior to January 1, 2014, there shall be allowed as a credit against the tax imposed by this chapter in any income year an amount equal to the amount paid during such income year by a small business to the federal Small Business Administration as a guaranty fee to obtain guaranteed financing from the federal Small Business Administration, provided the credit shall not reduce the tax in any income year below any minimum tax required under this chapter.
(c) If the amount of the credit allowable under this section exceeds the sum of any taxes paid by the small business after all other credits have first been applied, any such excess amount of the credit allowable under this section may be taken in any of the four succeeding income years.
(P.A. 99-173, S. 42, 65; P.A. 10-75, S. 28.)
History: P.A. 99-173 effective June 23, 1999, and applicable to income years commencing on or after January 1, 1999; P.A. 10-75 amended Subsec. (b) to specify that credit shall be allowed in any income year commencing prior to January 1, 2014, effective July 1, 2010.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 12-217cc
What does Connecticut General Statutes § 12-217cc cover?
Section 12-217cc ("Tax credit for certain small businesses obtaining financing from federal Small Business Administration. For income years commencing prior to January 1, 2014.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 12-217cc?
A common citation format is "Connecticut General Statutes § 12-217cc" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 12-217cc apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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