Form 304 - New Jobs Investment Tax Credit - 2011 Page 2
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4FORM 304 (1-12, R-18)
Page 2
PART III
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
11. Compensation of all employees in New Jersey attributable to the qualified investment . . . . . . . . . . . . . . .
11.
12. Total compensation of all employees in New Jersey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
13. Divide line 11 by line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13.
14. Enter tax liability from page 1, line 9 of CBT-100 or BFC-1, or line 4 of the CBT-100S . . . . . . . . . . . . . . . .
14.
15. Multiply line 14 by line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.
16. Enter 50% (.50) of line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16.
17. Enter the required minimum tax liability as indicated in instruction (c) for Part III . . . . . . . . . . . . . . . . . . . .
17.
18. Subtract line 17 from line 14. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . .
18.
19. Enter the lesser of line 16 or line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.
20. Tax Credits taken on current year’s tax return, if applicable:
(a) Urban Transit Hub Tax Credit
_________________________
(b) HMO Assistance Fund Tax Credit
_________________________ . . . . . . . . . . . . . . . . . . . . . . .
20.
21. Subtract line 20 from line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21.
22. Allowable credit for the current tax period - Enter the lesser of line 10 or line 21 here and on
Schedule A-3 of the CBT-100, the CBT-100S or the BFC-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22.
IF LINE 10 IS GREATER THAN LINE 22, PROCEED TO LINE 23. OTHERWISE, GO TO PART IV.
23. Subtract line 22 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23.
24. Property taxes attributable to qualified investment: (See instruction (e) for Part III)
(a) Property tax paid on new property or
Total N.J. property tax paid ___________________________ multiplied by line 13 . . . . . . . . . . . . . . . 24(a)
(b) Imputed property tax on new property (15% of rent) ____________________ or Imputed property
tax on all rented property in N.J. (15% of rent) _____________________ multiplied by line 13 . . . . . 24(b)
25. Add lines 24(a) and 24(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25.
26. Enter 50% (.50) of line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26.
27. Refund request - Enter the lesser of line 23 or line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27.
PART IV
CERTIFICATION
The following certifications are required in accordance with N.J.S.A. 54:10A-5.9 of the New Jobs Investment Tax Credit Act.
1. For qualified investments made during the current tax year, the taxpayer certifies that the number of new jobs reported on line 6(e) of
Part II, is a reasonable estimate of the number of new jobs directly attributable to the qualified investment; and
2. For qualified investments made in prior years for which a New Jobs Investment Tax Credit was claimed, the taxpayer certifies:
(a) The new jobs factor for: . . . . . . . . . . . . . . the first prior year
____________________
the second prior year
____________________
the third prior year
____________________
the fourth prior year
____________________
(b) The maximum annual tax credit for:
the first prior year
____________________
the second prior year
____________________
the third prior year
____________________
the fourth prior year
____________________
(c) That the qualified investment property continues to be used in the business or has been disposed of after the expiration of its recovery
period; and
(d) That the new jobs used in the calculation of the new jobs factor continue to qualify as eligible new jobs as defined for the purposes of
this credit.
__________________________________________________________________________________________________________
(Signature of Duly Authorized Officer of Taxpayer)
(Date)
NOTE: If the taxpayer is unable to make the above certifications, amended returns must be filed reflecting the correct new jobs factors
and qualified investments for all affected tax years.
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