Virginia Form Gjc - Application For Green Jobs Creation Tax Credit - 2016 Page 2
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1
2
3Application for Green Jobs Creation Tax Credit
Instructions
General Information
When to Submit Application
For taxable years beginning on and after January 1, 2010, but before
Form GJC and any supporting documentation must be completed
January 1, 2018, a $500 income tax credit is allowed for the creation
and mailed at least 90 days prior to the due date of your return. You
of “green” jobs paying an annual salary in excess of $50,000. Each
must apply each year you are eligible to earn credit for each job that
taxpayer is allowed a credit for up to 350 new green jobs. In order
is continuously filled (not to exceed 5 years).
to qualify for the tax credits, the taxpayer must have created the
Where to Submit Application
green job and filled it during the taxable year in which the credit is
Submit Form GJC and attachments to the Department of Taxation,
claimed. The credit is allowed for the taxable year in which the job
ATTN: Tax Credit Unit, P.O. Box 715, Richmond, VA 23218-0715
has been filled for at least 1 year and for each of the 4 succeeding
or fax it to (804) 774-3902.
taxable years provided that the job is continuously filled during the
respective taxable year. Any unused tax credits may be carried over
What Does the Taxpayer Need to Do
for 5 taxable years.
Upon receiving notification of the allowable credit amount, taxpayers
In order to qualify for the tax credit, the taxpayer must demonstrate
may claim the allowable credit amount on the applicable Virginia
that the green job was created by the taxpayer and the job was
income tax return and compute any carryover credit amount.
filled for the taxable year in which the credit is claimed.
IMPORTANT
“Green job” means employment in industries relating to the field
of renewable, alternative energies, including the manufacture
All business taxpayers should be registered with the Department
and operation of products used to generate electricity and other
before completing Form GJC. If you are not registered, complete
forms of energy from alternative sources that include hydrogen
Form R-1.
and fuel cell technology, landfill gas, geothermal heating
Taxpayers who do not receive notification of allowable credit amounts
systems, solar heating systems, hydropower systems, wind
before their Virginia income tax return due date may file during the
systems, and biomass and biofuel systems. The Secretary of
extension period or file their regular return without the credit and
Commerce and Trade is required to develop a detailed definition
then file an amended tax return after receipt of notification of the
and list of jobs that qualify for the credit. This information is
allowable credit amount to claim the tax credit.
available on the Secretary of Commerce and Trade’s website at
Pass-Through Entities
Each pass-through entity must file Form PTE with the Department
“Job” means employment of an indefinite duration of an individual
within 30 days after the credit is granted. This information should
whose primary work activity is related directly to the field of
be sent to: Department of Taxation, ATTN: Tax Credit Unit,
renewable, alternative energies and for which the standard fringe
P.O. Box 715, Richmond, VA 23218-0715 or you may fax it to
benefits are paid by the taxpayer, requiring a minimum of either
(804) 786-2800. Please do not do both.
(i) 35 hours of an employee’s time per week for the entire normal
year of such taxpayer’s operations, which “normal year” must
Credit must be allocated among owners in proportion to each owner’s
consist of at least 48 weeks, or (ii) 1,680 hours per year. Positions
percentage of ownership or participation in the pass-through entity.
created when a job function is shifted from an existing location in
All pass-through entities distributing this credit to their owners,
the Commonwealth do not qualify as a job.
shareholders, partners, or members must give each a Schedule VK-
Any credits granted to a partnership, limited liability company,
1, Owner’s Share of Income and Virginia Modifications and Credits.
or electing small business corporation (S corporation) must be
Where to Get Help
allocated to the individual partners, members, or shareholders,
respectively, in proportion to their ownership or interest in such
Write to the Virginia Department of Taxation, ATTN: Tax
business entities.
Credit Unit, P.O. Box 715, Richmond, VA 23218-0715 or call
(804) 786-2992.
If the taxpayer is eligible for the Green Jobs Creation Tax Credit and
creates green jobs in an enterprise zone, the taxpayer may also
qualify for the benefits under the Enterprise Zone Grant Program.
What to Enclose
Provide a copy of the W-2 for each eligible employee.
Guaranteed payments – provide a copy of the Schedule K-1
(Form 1065) and a statement indicating if the payments were for
services or the use of capital.
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