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Recordkeeping: investment tax credit

When claiming this credit, you must keep the following required documentation for your records:

  • detailed description of the property
  • explanation of how the property is used in the manufacturing process
  • if the property is also used for research and development (R and D), an explanation that:
    • describes how the property is used in R and D
    • identifies the percentage of the property used in manufacturing and R and D compared to the total
    • if claiming a building, provides a breakdown of the square footage used in manufacturing compared to the amount used in R and D
  • depreciation reports and any related supporting schedules
  • organizational chart that includes entity names, identification numbers, and percentage of ownership

Note: We may require additional information based on the specific facts of your credit claim.

To claim the credit, you’ll need to file either:

  • Form CT-46, Claim for Investment Tax Credit, if you’re a corporation; or
  • Form IT-212, Investment Tax Credit, if you’re not a corporation.

See Investment tax credit for detailed information about the credit and to access the credit forms.