Definitions

# (1)

''American Institute of Certified Public Accountants (AICPA)'' shall mean the national organization which establishes financial, accounting and auditing procedures to which certified public accountants (CPAs) must adhere.

# (2)

''Applicant'' or ''the applicant'' shall mean, as the context of these regulations shall require:

# (A)

A digital animation production company which applies to the Commission for certification as a state-certified digital animation production company; or,

# (B)

A state-certified digital animation production company which applies to the Commission for a digital animation tax credit voucher.

# (3)

''Commission'' shall mean the Connecticut Commission on Culture and
Tourism.

# (4)

''Commissioner'' shall mean the Commissioner of Revenue Services.

# (5)

''Detailed cost report'' or ''cost report'' shall mean the itemized expenses or costs report filed with the Commission by an applicant for a tax credit voucher as described in section 12-217ll-7 of the Regulations of Connecticut State Agencies.

# (6)

''Digital animation production activity'' shall have the same meaning as provided in subsection (a) of section 12-217ll of the Connecticut General Statutes.

# (7)

''Digital animation production company'' shall have the same meaning as provided in subsection (a) of section 12-217ll of the Connecticut General Statutes.

# (8)

''Financial Accounting Standards Board (FASB)'' shall mean the board designated by the AICPA to have the authority to set and specify generally accepted accounting principals (GAAP).

# (9)

''Full-time employee'' shall have the same meaning as provided in subsection

(a) of section 12-217ll of the Connecticut General Statutes.

# (10)

''Income year'' shall mean the period established by an applicant for federal income tax purposes.

# (11)

''Production expenses or costs'' shall have the same meaning as provided in subsection (a) of section 12-217ll of the Connecticut General Statutes.

# (12)

''State'' shall mean the State of Connecticut;

# (13)

''State-certified digital animation production company'' shall have the same meaning as provided in subsection (a) of section 12-217ll of the Connecticut General Statutes; and,