Form 310 - Hmo Assistance Fund Tax For Taxable Periods Ending On And After July 31, 2008 Page 2
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2Form 310-A (7-08, R-3)
INSTRUCTIONS FOR FORM 310
HMO ASSISTANCE FUND TAX CREDIT
The HMO Assistance Fund Tax Credit is available to health maintenance organizations that paid assessments to the New
Jersey Health Maintenance Organization Assistance Association in accordance with Chapter 12, P.L. 2000 which was
enacted on April 6, 2000. The total available credit is equal to 50% of the paid assessments for which a certificate of
contribution was issued by the association. One-fifth of the credit amount can be taken in five consecutive privilege
periods and is limited to 20% of the taxpayer’s Corporation Business Tax liability. There is no carryover provision for this
tax credit, however, taxpayers that cease doing business in New Jersey before the end of the five year period may claim
any credit amounts not yet applied against its tax liability on its final return.
SPECIFIC INSTRUCTIONS FOR FORM 310
PART I
QUALIFYING ASSESSMENTS
Qualifying assessments are those for which the taxpayer received a certificate of contribution and those that are
permitted to be applied against the current return period’s tax liability. The period covered by the tax return on which
the credit is claimed must begin on or after the third calendar year commencing after the assessment was paid. The
credit can be taken for five consecutive privilege periods. Only list assessments that meet these criteria along with
the related payment dates.
PART II
CALCULATION OF ALLOWABLE CREDIT AMOUNT
a) The total and allowable HMO Assistance Fund Tax Credit is calculated in Part II. The amount of this credit
cannot exceed 20% of the Corporation Business Tax liability otherwise due for the period covered by the return
and shall not reduce the tax liability below the statutory minimum.
b) The minimum tax is assessed based on the New Jersey Gross Receipts as follows:
New Jersey Gross Receipts
Minimum Tax
Less than $100,000
$500
$100,000 or more but less than $250,000
$750
$250,000 or more but less than $500,000
$1,000
$500,000 or more but less than $1,000,000
$1,500
$1,000,000 or more
$2,000
provided however that for a taxpayer that is a member of an affiliated or controlled group which has a total payroll
of $5,000,000 or more for the return period, the minimum tax shall be $2,000. Tax periods of less than 12
months are subject to the higher minimum tax if the prorated total payroll exceeds $416,667 per month.
c) There is no carryover provision for this tax credit. Any credit amount remaining after the five consecutive
privilege periods pass shall be forfeited.
d) The priorities set forth in this Corporation Business Tax form follow Regulation N.J.A.C. 18:7-3.17.
REFUNDS ISSUED BY THE NJ HMO ASSISTANCE ASSOCIATION
Any refunds issued to the taxpayer by the association are deemed to be assessment amounts for which an HMO
Assistance Fund tax credit was allowed. If the taxpayer claimed an HMO Assistance Fund tax credit on a New Jersey
Corporation Business Tax Return, then the taxpayer shall pay 50% of the refund amount to the State of New Jersey
up to the amount of tax credit claimed.
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