Form 301 - Urban Enterprise Zone Investment Tax Credit And Credit Carry Forward
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1
2301
NEW JERSEY CORPORATION BUSINESS TAX
FORM
(09-14, R-16)
URBAN ENTERPRISE ZONE INVESTMENT TAX CREDIT
AND CREDIT CARRY FORWARD
FOR TAXABLE PERIODS ENDING ON AND AFTER JULY 31, 2014
Name as Shown on Return
Federal ID Number
NJ Corporation Number
IMPORTANT NOTE:
This investment tax credit is available only to an approved “Qualified Business” which has made an investment or other expenditure in an Urban
Enterprise Zone, which has been made pursuant to an agreement with the governing body of the qualifying municipality which was approved by the
by the New Jersey Urban Enterprise Zone Authority (in but not of the New Jersey Department of Community Affairs). A taxpayer may not claim the
investment tax credit or carryover for any year in which it has claimed a new employees tax credit or carryover.
READ THE INSTRUCTIONS ON THE REVERSE SIDE BEFORE COMPLETING THIS FORM.
PART I
TAXPAYER QUALIFICATIONS
1. Is the taxpayer certified by the New Jersey Urban Enterprise Zone Authority (in but not of the New Jersey
Department of Community Affairs) as a “qualified business” under the Urban Enterprise Zones Act? . . . . . . . . ¨ YES
¨ NO
2. Enter your Urban Enterprise Zone permit number ____________________________________
3. Was the taxpayer engaged in the active conduct of a trade or business in the zone for at least one year
prior to the zone designation? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¨ YES
¨ NO
4. Does the taxpayer employ fewer than 50 full-time, permanent employees? . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¨ YES
¨ NO
5. Was the investment made pursuant to an agreement with the governing body of the qualifying municipality
which was approved by the New Jersey Urban Enterprise Zone Authority (in but not of the New Jersey
Department of Community Affairs)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¨ YES
¨ NO
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO”, DO NOT COMPLETE THE REST OF THIS FORM, THE TAXPAYER DOES NOT
QUALIFY FOR THE URBAN ENTERPRISE ZONE INVESTMENT TAX CREDIT, OTHERWISE, GO TO PART II.
PART II
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
6.
Enter the amount of the approved investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7.
Enter 8% (.08) of the amount on line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8.
Investment tax credit carried forward from prior tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9.
Total investment tax credit (add lines 7 and 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10.
Enter tax liability from Page 1, line 9 of CBT-100 or BFC-1, or line 4 of CBT-100S . . . . . . . . . . .
10.
11.
Enter the required minimum tax liability as indicated in instruction (b) for Part II . . . . . . . . . . . . . .
11.
12.
Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
13. List
Tax Credits taken on the current year’s tax return, if applicable.
a)
______________________________
______________________________
______________________________
______________________________
b)
______________________________
______________________________
c)
______________________________
______________________________
d)
Total
13.
14.
14.
Subtract line 13 from line 12. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . .
15.
Allowable credit for the current tax period - Enter the lesser of line 9 or line 14 here and on
Schedule A-3 of the CBT-100, the CBT-100S or the BFC-1. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.
PART III
CALCULATION OF CREDIT CARRY FORWARD
16.
Enter amount from line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.
17.
Enter amount from line 15, Part II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.
18.
Amount of Urban Enterprise Zone Investment Tax Credit Carry Forward to following year’s return
(line 16 minus line 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.
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