Form 303 - Recycling Equipment Tax Credit - 2008
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1
2303
FORM
NEW JERSEY CORPORATION BUSINESS TAX
(7-08, R-7)
RECYCLING EQUIPMENT TAX CREDIT
FOR TAXABLE PERIODS ENDING ON AND AFTER JULY 31, 2008
Name as Shown on Return
Federal ID Number
NJ Corporation Number
READ THE INSTRUCTIONS ON THE REVERSE SIDE BEFORE COMPLETING THIS FORM
NOTE: The legislation governing this tax credit expired on December 31, 1996. Any unused tax credits claimed prior to January 1, 1997 are
allowable subject to the limitations set forth on this form.
PART I
QUALIFICATIONS
1. Has the taxpayer received and attached a copy of the recycling equipment certification issued by the
Department of Environmental Protection? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
2. Was the recycling equipment used exclusively in New Jersey during the period covered by the tax return, or
in the case of vehicles only, primarily in New Jersey during this period? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
If the answer to either question #1 or #2 is “NO”, do not complete the rest of this form. The taxpayer may not claim the recycling equipment
tax credit. Also, no tax credit may be claimed for qualified equipment which is disposed of during the period covered by the return.
PART II
CERTIFIED RECYCLING EQUIPMENT
(A)
(B)
(D)
(E)
(F)
(G)
(H)
(I)
(C)
MONTH &
LOAN AMOUNT
COLUMN (C)
# OF
COLUMN (F) X
CREDIT USED
DESCRIPTION
COST
50% OF
YEAR
FROM DEPT. OF
MINUS
MONTHS
COLUMN (G)
IN PRIOR
COLUMN (E)
PLACED IN
ENVIRONMENTAL
COLUMN (D)
USED
DIVIDED
YEARS
SERVICE
PROTECTION
IN N.J.
BY 12
1.
2.
3.
4.
5.
TOTAL
PART III
CALCULATION OF RECYCLING EQUIPMENT TAX CREDIT
1. Enter the total of column (H), PART II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.
2. Enter the total of column (I), PART II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.
3. Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
4. ENTER 20% (.20) OF LINE 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
5. Enter the lesser of line 3 or line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
6. Enter tax liability from page 1, line 11 of CBT-100, or BFC-1, or line 6 of CBT-100S . . . . . . . . . . . . . . . . . .
6.
7. Enter the required minimum tax liability as indicated in instruction (b) for Part III . . . . . . . . . . . . . . . . . . . .
7.
8. Subtract line 7 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Enter 50% (.50) of the tax liability reported on line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Enter the lesser of line 8 or line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Tax credits taken on current year’s return if applicable:
a) Urban Transit Hub Tax Credit
____________________________
b) HMO Assistance Fund Tax Credit
____________________________
c) New Jobs Investment Tax Credit
____________________________
d) Urban Enterprise Zone Tax Credit
____________________________
e) Redevelopment Authority Project Tax Credit
____________________________ . . . . . . . . .TOTAL 11.
12. Subtract line 11 from line 10. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Allowable credit for the current tax period - Enter the lesser of line 5 or line 12 here and on
Schedule A-3 of the CBT-100, the CBT-100S or the BFC-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.
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