Application Instructions

General Description
This request for Business Assistance is a brief outline to enable the DECD to determine, on a preliminary basis, the suitability and eligibility of the business to apply for the Accumulated Tax Credit Expansion Program. A current business plan should be included (consult with your Project Manager if assistance is needed). The business plan should include a complete description of the firm, its products and services, and the expansion project.

All information accompanying this Application is confidential and exempt from the Freedom of Information Act.

  • Business Legal Name: List the full legal name of the applicant for financial assistance.
  • Address: Mailing address where correspondence should be sent.
  • Contact Person: If appropriate, include title, phone and email.
  • Project Address (if different): Include full address and country.
  • Type of Business: Include Type of product/service, NAICS Code, federal employer ID#and state tax registration #.
  • Business Ownership: Provide name, title, % of ownership, social security # and indicate if business if minority or woman-owned.
  • Form of Ownership: Indicate the type and date established.
  • Unpaid Taxes: List any including type, amount, past due and payment terms.
  • Estimated Stranded Tax Credits currently on company’s balance sheet must include:
    • R&D amount
    • Outstanding, pending or anticipated claims or litigation against company
    • Personal declaration of bankruptcy or an officer of a company or organization where bankruptcy was declared
    • Receipt of prior state financing and company that provided financing along with amount, program and date received.
  • Environmental Compliance
  • OSHA Compliance
  • Public Disclosure
  • Required documents include:
    • Letter of Good Standing from the Connecticut Department of Revenue Services
    • Interested companies must submit a plan to DECD for investing in venture related activities and the expected outcomes of the investment including:
      • Target markets for investments
      • Expected investment amount/company
      • Stage of companies
      • Expected new jobs in the state
      • Location of companies
  • Certification by Applicant: Must review, sign and date.

Accumulated Tax Credit Venture Investment Program

  • Type of Business

  • Business Ownership

  • Form of Ownership

  • Unpaid Taxes (list any below)

  • Estimated Stranded Tax Credits currently on company's balance sheet

  • Environmental Compliance

  • OSHA Compliance

  • Public Disclosure

  • Required Documents

  • A. Letter of Good Standing from the Connecticut Department of Revenue Services (DRS). B. Interested companies must submit a plan to DECD for investing in venture related activities and the expected outcomes of the investment including: • Target markets for investments • Expected investment amount/company (# of expected investments) • Stage of companies (i.e., pre-revenue, early stage, or growth. Preference given for early stage investing) • Expected new jobs in the State • Expected returns • Location of the companies
  • Certification by Applicant

    It is hereby represented by the undersigned as an inducement to the Department of Economic and Community Development to consider the financial assistance requested herein, that to the best of my knowledge and belief no information or data contained in the application or in the attachments are in any way false or incorrect and that no material information has been omitted, including the financial statements. The undersigned agrees that banks, credit agencies, the Connecticut Department of Labor, the Connecticut Department of Revenue Services, the Connecticut Department Environmental Protection, and other references are hereby authorized now, or anytime in the future, to give the Department of Economic and Community Development any and all information in connection with matters referred in this application, including information concerning the payment of taxes by the applicant. In addition, the undersigned agrees that any assistance provided pursuant to this application will be utilized exclusively for the purposes represented in this application, as may be amended.