Form 313 - Economic Recovery Tax Credit - New Jersey Corporation Business Tax - 2013 Page 4
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4provided however that for a taxpayer that is a member of an
Line 1 - Enter the tax credit calculated for each applicable tax year
affiliated or controlled group which has a total payroll of
excluding the amount of any credit carried over from a prior tax year.
$5,000,000 or more for the return period, the minimum tax shall
Line 2(a) - (f) - Enter the allowable tax credit amount from Part IV,
be $2,000. Tax periods of less than 12 months are subject to
line 18 of the economic recovery tax credit form filed for the
the higher minimum tax if the prorated total payroll exceeds
applicable tax year. Apply the allowable credit amount for each year
$416,667 per month.
to the earliest calculation year until line 3 for that particular column
equals zero. This credit can only be carried forward for five years at
c) The priorities set forth in this Corporation Business Tax form
which time any remaining amount is forfeited.
follow Regulation N.J.A.C. 18:7-3.17.
Line 3 - Subtract the amount(s) reported on lines 2(a) through 2(f)
from the amount reported on line 1 for the appropriate tax year listed
PART V
in columns A through F. The amount calculated on line 4 represents
Economic Recovery Tax Credit Carryover
the total tax credit carryover to be reported on line 9, Part III of next
Complete this schedule if the allowable tax credit is less than the
year’s form.
total credit available for the current year or if a tax credit has been
carried forward from a previous tax year.
Form 313 (09-13, R-09)
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