Form 305 - Manufacturing Equipment And Employment Investment Tax Credit - New Jersey Corporation Business Tax - 2012
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5NEW JERSEY CORPORATION BUSINESS TAX
305
FORM
MANUFACTURING EQUIPMENT AND EMPLOYMENT
2012
INVESTMENT TAX CREDIT
FOR TAXABLE PERIODS ENDING ON AND AFTER JULY 31, 2012
Name as Shown on Return
Federal ID Number
NJ Corporation Number
READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM
PART I
CREDIT CALCULATION FOR INVESTMENT IN QUALIFIED EQUIPMENT IN
NEW JERSEY IN THE CURRENT YEAR
1. Enter the cost of qualified equipment placed in service in N.J. during the current year . . . . . . . . . . . . . . .
1.
2. Enter 2% (.02) or 4% (.04) of line 1, whichever applies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Enter the lesser of line 2 or $1,000,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
IF YOU HAVE PRIOR YEARS MANUFACTURING EQUIPMENT INVESTMENTS COMBINED WITH
INCREASED EMPLOYMENT, COMPLETE PARTS II AND/OR III; OTHERWISE GO TO PART IV.
PART II
EMPLOYMENT INVESTMENT TAX CREDIT CALCULATION FOR INVESTMENT
IN QUALIFIED EQUIPMENT IN NEW JERSEY MADE 1 YEAR PRIOR TO THE
CURRENT TAX YEAR
4. Average number of N.J. employees in the current year (Measurement Year) . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Average number of N.J. employees in the tax year prior to the year that qualified equipment
was placed in service in N.J. (Base Year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Subtract line 5 from line 4 (if zero or less, enter zero on line 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Multiply line 6 by $1000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Enter the cost of qualified equipment placed in service in N.J. one year prior to the current
tax year (from line 1, Form 305 of prior year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Enter 3% (.03) of line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Enter the lesser of line 7 or line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10.
PART III
EMPLOYMENT INVESTMENT TAX CREDIT CALCULATION FOR INVESTMENT
IN QUALIFIED EQUIPMENT IN NEW JERSEY MADE 2 YEARS PRIOR TO THE
CURRENT TAX YEAR
11. Average number of N.J. employees in the prior tax year (Measurement Year) . . . . . . . . . . . . . . . . . . . . . .
11.
12. Average number of N.J. employees in the tax year prior to the year that qualified equipment was
placed in service in N.J. (Base Year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
13. Subtract line 12 from line 11 (if zero or less, enter zero on line 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.
14. Multiply line 13 by $1000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14.
15. Enter the cost of qualified equipment placed in service in N.J. two years prior to the current tax
year (from line 1, Form 305, 2 years prior) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.
16. Enter 3% (.03) of line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.
17. Enter the lesser of line 14 or line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17.
PART IV
COMBINED CREDIT CALCULATION - CURRENT YEAR
18. Enter the total of the amounts on lines 3, 10 and 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.
19. Enter carryover from Part VI, line 3, column (H) from prior year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.
20. Total Credit Available - Enter the total of line 18 plus line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20.
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