Form 314 - Remediation Tax Credit - 2011

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314
NEW JERSEY CORPORATION BUSINESS TAX
FORM
(6-11, R-6)
REMEDIATION TAX CREDIT
FOR RETURN PERIODS ENDING ON AND AFTER JULY 31, 2011
Name as Shown on Return
Federal ID Number
NJ Corporation Number
READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM
PART I
TAXPAYER QUALIFICATIONS
1. Has the taxpayer received an approved certification, along with the certified eligible costs
of the remediation from the Department of Environmental Protection? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
2. Is the remediated site located within an area designated as a Planning Area 1 (Metropolitan) or Planning
Area 2 (Suburban) as designed pursuant to the "State Planning Act," sections 1 through 12? . . . . . . . . . . . . . . .
YES
NO
3. Does the subsequent business activity at the remediated site represent new corporation
business tax, or sales and use tax or gross income tax receipts? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
4. Is there a high probability that the estimated new tax receipts derived from the business activity at
that remediated site, within a three year period from the inception of the business activity, will equal
or exceed the value of tax credits issued for that site? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
5. If the subsequent business activity at the remediated site is as a result of a relocation of an existing
business from within the State of New Jersey, then go to question 5(a) below, if not leave blank.
(a) Does the taxpayer feel the tax credit authorized for the location will be equal to the difference in
aggregate value of tax receipts from the corporation business tax, the sales and use tax, and the
gross income tax generated by the business activity in the privilege period immediately following
the business relocation less the aggregate value of tax receipts generated in the privilege period
immediately prior to relocation, up to 100% of the eligible costs? (If the difference in aggregate
value is zero or less, no tax credit shall be awarded. Also see instruction for Part I) . . . . . . . . . . . . . . . . . .
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
remediation tax credit, otherwise, go to Part II.
PART II
CALCULATION OF THE REMEDIATION TAX CREDIT
Note: Refer to the specific line item instructions for Part II before completing this section.
6. Enter the amount of eligible costs of the remediation certified by the Department of Environmental
Protection. Attach a copy of the "Application for Reimbursement of Remediation Costs Under the
Brownfield and Contaminated Site Remediation Act" submitted to the Director of the Division of Taxation . .
6.
7. Enter the amount of property tax exemption received. (See instruction for Part II) . . . . . . . . . . . . . . . . . . . .
7.
8. Enter the amount of any in lieu tax payments made, tax incentives and grants received to remediate the
qualifying site. (See instruction for Part II) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Total line 7 and line 8 and enter here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Subtract line 9 from line 6. Total amount of Remediation Tax Credit Available for this site. . . . . . . . . . . . . . . 10.
PART III
CALCULATION OF THE AVAILABLE REMEDIATION TAX CREDIT
Note: Refer to the specific line item instructions for Part III before completing this section.
11. Enter the amount of available remediation tax credit from Part II, line 10. If the taxpayer had more than
one qualifying remediation sites, enter the aggregate of all available remediation tax credits from Part II,
line 10 of all forms completed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Enter the total Remediation Tax Credit carryover from the prior tax period . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.
13. Total amount of Remediation Tax Credit Available (Add lines 11 and 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.

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