Form Gjc - Virginia Application For Green Jobs Creation Tax Credit (Page 2 of 3) in pdf

Instructions

Application for Green Jobs Creation Tax Credit

General Information

When to Submit Application

For taxable years beginning on and after January 1, 2010, but

Form GJC and any supporting documentation must be

before January 1, 2015, a $500 income tax credit is allowed

completed and mailed at least 90 days prior to the due date

for the creation of “green” jobs paying an annual salary in

of your return. You must apply each year you are eligible

excess of $50,000. Each taxpayer is allowed a credit for up

to earn credit for each job that is continuously filled (not to

to 350 new green jobs. In order to qualify for the tax credits,

exceed five years).

the taxpayer must have created the green job and filled it

Where to Submit Application

during the taxable year in which the credit is claimed. The

Submit Form GJC and attachments to the Department of

credit is allowed for the taxable year in which the job has been

Taxation, ATTN: Tax Credit Unit, P.O. Box 715, Richmond,

filled for at least one year and for each of the four succeeding

VA 23218-0715 or fax it to 804-367-3021.

taxable years provided the job is continuously filled during

What Does the Taxpayer Need to Do

the respective taxable year. Any unused tax credits may be

carried over for five taxable years.

Upon receiving notification of the allowable credit amount,

taxpayers may claim the allowable credit amount on the

In order to qualify for the tax credit, the taxpayer must

applicable Virginia income tax return and compute any

demonstrate that the green job was created by the taxpayer

carryover credit amount.

and the job was filled for the taxable year in which the credit

is claimed.

IMPORTANT

"Green job" means employment in industries relating to

All business taxpayers should be registered with the

the field of renewable, alternative energies, including the

Department of Taxation before completing Form GJC. If you

manufacture and operation of products used to generate

are not registered, complete Form R-1.

electricity and other forms of energy from alternative sources

Taxpayers who do not receive notification of allowable credit

that include hydrogen and fuel cell technology, landfill

amounts before their Virginia income tax return due date

gas, geothermal heating systems, solar heating systems,

may file during the extension period or file their regular return

hydropower systems, wind systems, and biomass and biofuel

without the credit and then file an amended tax return after

systems. The Secretary of Commerce and Trade is required

receipt of notification of the allowable credit amount to claim

to develop a detailed definition and list of jobs that qualify for

the tax credit.

the credit. This information is available online at

Pass-Through Entities

commerce.virginia.qov/lnitiatives/GreenJobsTaxCredit.cfm.

Each pass-through entity must file Form PTE with the

"Job" means employment of an indefinite duration of an

Department of Taxation within 30 days after the credit is

individual whose primary work activity is related directly to

granted. This information should be sent to: Department of

the field of renewable, alternative energies and for which the

Taxation, Attn: Tax Credit Unit, P.O. Box 715, Richmond, VA

standard fringe benefits are paid by the taxpayer, requiring

23218-0715 OR you may fax it to 804-786-2800. Please do

a minimum of either (i) 35 hours of an employee's time per

not do both.

week for the entire normal year of such taxpayer's operations,

All pass-through entities distributing this credit to their

which "normal year" must consist of at least 48 weeks, or (ii)

owners, shareholders, partners or members must give each

1,680 hours per year. Positions created when a job function

a Schedule VK-1, Owner’s Share of Income And Virginia

is shifted from an existing location in the Commonwealth do

Modifications And Credits.

not qualify as a job.

Where To Get Help

Any credits granted to a partnership, limited liability company,

or electing small business corporation (S corporation)

Write the Department of Taxation, ATTN: Tax Credit

must be allocated to the individual partners, members, or

Unit, P. O. Box 715, Richmond, VA 23218-0715 or call

shareholders, respectively, in proportion to their ownership

804-786-2992.

or interest in such business entities.

If the taxpayer is eligible for the Green Jobs Creation

Tax Credit and creates green jobs in an enterprise zone,

the taxpayer may also qualify for the benefits under the

Enterprise Zone Grant Program.

3002010 REV 12/11

Form Gjc - Virginia Application For Green Jobs Creation Tax Credit Page 2

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