Form 308 - Small New Jersey-Based High-Technology Business Investment Tax Credit - 2012 Page 3
Download a blank fillable Form 308 - Small New Jersey-Based High-Technology Business Investment Tax Credit - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 308 - Small New Jersey-Based High-Technology Business Investment Tax Credit - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3SPECIFIC INSTRUCTIONS FOR FORM 308
PART I
provided however that for a taxpayer that is a member of an
affiliated or controlled group which has a total payroll of
CREDIT CALCULATION FOR QUALIFIED INVESTMENTS
$5,000,000 or more for the return period, the minimum tax
The tax credit is computed in this section and is based on an
shall be $2,000. Tax periods of less than 12 months are
amount equal to 10% of the qualified investment made by the
subject to the higher minimum tax if the prorated total payroll
taxpayer during the current tax period in a small New Jersey-
exceeds $416,667 per month.
based high-technology business up to a maximum allowed credit
of $500,000 for the tax year for each qualified investment made
c)
The priorities set forth in this Corporation Business Tax form
by the taxpayer. The total credit available is reported on line 6.
follow Regulation N.J.A.C. 18:7-3.17.
PART II
PART III
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
SMALL
NEW
JERSEY-BASED
HIGH-TECHNOLOGY
BUSINESS INVESTMENT TAX CREDIT CARRYOVER
a)
The allowable Small New Jersey-Based High-Technology
Business Investment Tax Credit for the current period is
Unused tax credits may be carried forward for fifteen years
calculated in Part II. The amount of this credit, in addition to
following a credit’s tax year. However, a taxpayer may not carry
the amount of any other tax credits taken, is limited to 50%
over any amount of unused credit to a tax year during which a
of the taxpayer’s total tax liability and cannot exceed an
corporate acquisition, with respect to which a taxpayer was a
amount which would reduce the total tax liability below the
target corporation, occurred or during which the taxpayer was a
statutory minimum.
party to a merger or a consolidation. The amount of the carryover
is calculated in Part III.
b)
The minimum tax is assessed based on the New Jersey
Gross Receipts as follows:
New Jersey Gross Receipts
CBT-100
CBT-100S
Less than $100,000
$500.00
$375.00
$100,000 or more but less than $250,000
$750.00
$562.00
$250,000 or more but less than $500,000
$1,000.00
$750.00
$500,000 or more but less than $1,000,000 $1,500.00 $1,125.00
$1,000,000 or more
$2,000.00 $1,500.00
Form 308-A (09-12, R-7)
Page 2
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial