Virginia Form Gjc - Application For Green Jobs Creation Tax Credit Page 2
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1
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3Instructions
Application for Green Jobs Creation Tax Credit
General Information
When to Submit Application
For taxable years beginning on and after January 1, 2010, but
Form GJC and any supporting documentation must be
before January 1, 2015, a $500 income tax credit is allowed
completed and mailed at least 90 days prior to the due date
for the creation of “green” jobs paying an annual salary in
of your return. You must apply each year you are eligible
excess of $50,000. Each taxpayer is allowed a credit for up
to earn credit for each job that is continuously filled (not to
to 350 new green jobs. In order to qualify for the tax credits,
exceed 5 years).
the taxpayer must have created the green job and filled it
Where to Submit Application
during the taxable year in which the credit is claimed. The
Submit Form GJC and attachments to the Department of
credit is allowed for the taxable year in which the job has been
Taxation, ATTN: Tax Credit Unit, P.O. Box 715, Richmond,
filled for at least one year and for each of the 4 succeeding
VA 23218-0715 or fax it to 804-774-3902.
taxable years provided that the job is continuously filled during
What Does the Taxpayer Need to Do
the respective taxable year. Any unused tax credits may be
carried over for 5 taxable years.
Upon receiving notification of the allowable credit amount,
taxpayers may claim the allowable credit amount on the
In order to qualify for the tax credit, the taxpayer must
applicable Virginia income tax return and compute any
demonstrate that the green job was created by the taxpayer
carryover credit amount.
and the job was filled for the taxable year in which the credit
is claimed.
IMPORTANT
"Green job" means employment in industries relating to
All business taxpayers should be registered with the
the field of renewable, alternative energies, including the
Department before completing Form GJC. If you are not
manufacture and operation of products used to generate
registered, complete Form R-1.
electricity and other forms of energy from alternative sources
Taxpayers who do not receive notification of allowable credit
that include hydrogen and fuel cell technology, landfill
amounts before their Virginia income tax return due date
gas, geothermal heating systems, solar heating systems,
may file during the extension period or file their regular return
hydropower systems, wind systems, and biomass and biofuel
without the credit and then file an amended tax return after
systems. The Secretary of Commerce and Trade is required
receipt of notification of the allowable credit amount to claim
to develop a detailed definition and list of jobs that qualify for
the tax credit.
the credit. This information is available online at
Pass-Through Entities
commerce.virginia.qov/lnitiatives/GreenJobsTaxCredit.cfm.
Each pass-through entity must file Form PTE with the
"Job" means employment of an indefinite duration of an
Department within 30 days after the credit is granted. This
individual whose primary work activity is related directly to
information should be sent to: Department of Taxation, Attn:
the field of renewable, alternative energies and for which the
Tax Credit Unit, P.O. Box 715, Richmond, VA 23218-0715
standard fringe benefits are paid by the taxpayer, requiring
or you may fax it to 804-786-2800. Please do not do both.
a minimum of either (i) 35 hours of an employee's time per
Credit must be allocated among owners in proportion to each
week for the entire normal year of such taxpayer's operations,
owner’s percentage of ownership or participation in the pass-
which "normal year" must consist of at least 48 weeks, or (ii)
through entity.
1,680 hours per year. Positions created when a job function
is shifted from an existing location in the Commonwealth do
All pass-through entities distributing this credit to their
not qualify as a job.
owners, shareholders, partners or members must give each
a Schedule VK-1, Owner’s Share of Income and Virginia
Any credits granted to a partnership, limited liability company,
Modifications and Credits.
or electing small business corporation (S corporation)
must be allocated to the individual partners, members, or
Where to Get Help
shareholders, respectively, in proportion to their ownership
Write to the Virginia Department of Taxation, ATTN: Tax
or interest in such business entities.
Credit Unit, P.O. Box 715, Richmond, VA 23218-0715 or
If the taxpayer is eligible for the Green Jobs Creation
call 804-786-2992.
Tax Credit and creates green jobs in an enterprise zone,
the taxpayer may also qualify for the benefits under the
Enterprise Zone Grant Program.
What to Attach
Provide a copy of the W-2 for each eligible employee.
3002010 REV 10/14
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