Fillable Form 320 - Grow New Jersey Assistance Tax Credit printable pdf download

Form 320 - Grow New Jersey Assistance Tax Credit

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320

NEW JERSEY CORPORATION BUSINESS TAX

FORM

(10-16)

GROW NEW JERSEY ASSISTANCE TAX CREDIT

2016

Name as Shown on Return

Federal ID Number

NJ Corporation Number

READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM

PART I

QUALIFICATIONS

1. Does the taxpayer have an executed project agreement with the New Jersey Economic Development Authority? ¨ YES

¨ NO

¨ YES

¨ NO

2. Has the taxpayer received the original tax credit certificate issued by the New Jersey Division of Taxation? . . .

3. The taxpayer acknowledges that the original Tax Credit Certificate issued by the New Jersey Division of

Taxation must be submitted prior to credit application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If the answer to question 1 or 2 is “NO”, do not complete the rest of this form. The taxpayer is not eligible for this tax credit. Otherwise, go to

Part II.

PART II

CALCULATION OF THE AVAILABLE GROW NEW JERSEY ASSISTANCE TAX CREDIT

4. Enter the approved credit amount as reported on the attached certificate . . . . . . . . . . . . . . . . . . . . . . . . .

5. Enter the amount of credit carry forward from the prior tax period - from line 10 of the prior tax period

Form 320 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Total tax credit available - add lines 4 and 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART III

CALCULATION OF THE ALLOWABLE CREDIT AMOUNT

7. Enter tax liability from page 1, line 9 of CBT-100 or BFC-1, or line 4 of the CBT-100S . . . . . . . . . . . . . . .

8. Total tax credits taken on current years’ return

a)____________________

____________________

b)____________________

____________________

c)____________________

____________________

d)____________________

____________________ . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total

9. Remaining tax liability after other credits - subtract line 8 from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Enter lesser of line 6 or line 9 here - carry to Grow New Jersey Assistance Tax Credit line on

Schedule A-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10.

11. If line 6 is greater than line 9 - enter the difference here and carry forward . . . . . . . . . . . . . . . . . . . . . . . .

11.