Form 302 - Redevelopment Authority Project Tax Credit (Formerly The Urban Development Project Employees Tax Credit)
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3302
NEW JERSEY CORPORATION BUSINESS TAX
FORM
(7-08, R-9)
REDEVELOPMENT AUTHORITY PROJECT TAX CREDIT
(FORMERLY THE URBAN DEVELOPMENT PROJECT EMPLOYEES 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.
PART I
TAXPAYER AND EMPLOYEE PRELIMINARY QUALIFICATIONS
1. Is the taxpayer conducting a business within a project location as defined in the New Jersey Urban
Development Corporation Act, P.L. 1985, c. 227, N.J.S.A. 55:19-13, under an agreement with the
Redevelopment Authority or one of its project developers? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
2. If the answer to the above question is “YES”, state the name of the municipality encompassing the project in
which the taxpayer’s place of business is located._______________________________________________
3. Is the taxpayer primarily a manufacturing concern, or other business which is not retail sales or warehousing
oriented? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
4. Was the new employee hired during the tax year for which the credit is claimed? . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
5. Was the new employee employed for at least six continuous months during the tax year of first employment
or for six continuous months in the tax year of first employment plus the succeeding tax year? . . . . . . . . . . . . . . .
YES
NO
6. Was the new employee hired on or after the date of closing of the development project? . . . . . . . . . . . . . . . . . . . .
YES
NO
NOTE: IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS “NO”, DO NOT COMPLETE THE REST OF THIS FORM - THE TAXPAYER
DOES NOT QUALIFY FOR THE REDEVELOPMENT AUTHORITY PROJECT TAX CREDIT. OTHERWISE, GO TO PART II.
PART II
EMPLOYEE QUALIFICATIONS FOR THE $1500 CREDIT
7. Was the new employee a resident of the qualified municipality in which the project is located? . . . . . . . . . . . . . . .
YES
NO
8. Was the new employee immediately prior to employment by the taxpayer either unemployed for at least
90 days or dependent upon public assistance as the primary source of income? . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
If the answer to both questions 7 and 8 is “YES”, enter the information required on the schedule below.
If the answer to either question 7 or 8 is “NO”, the taxpayer does not qualify for the $1500 credit.
EMPLOYEES QUALIFYING THE TAXPAYER FOR THE $1500 CREDIT
Enter the required information for each employee meeting the qualifications stated in PART I and PART II.
Employment Dates
Municipality in Which
Social Security Number
Name
the Employee Resides
From
To
1.
2.
3.
4.
5.
6.
Total number of employees qualifying the taxpayer for $1500 Credit _____________________ (Carry to Part III, Line 9).
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