Form Git-317 - Sheltered Workshop Tax Credit - 2006 Page 4
Download a blank fillable Form Git-317 - Sheltered Workshop Tax Credit - 2006 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Git-317 - Sheltered Workshop Tax Credit - 2006 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
47.
NJ Tax (after credit for taxes paid to other jurisdictions)
Enter amount of NJ Tax after the credit for taxes paid to other jurisdictions.. This amount can be found on line 40 of
Form NJ-1040, line 39 of Form NJ-1040NR, or line 27 of Form NJ-1041.
8.
Apportioned NJ tax
Multiply line 7 by line 6 and enter this amount onto line 8.
9.
Maximum Allowable Credit
Multiply line 8 by 50% and enter this amount onto line 9.
10.
Earned Income Tax Credit
This amount can be taken from line 50 of Form NJ-1040 (this credit is only allowable to NJ residents). If taxpayer is
including more than one entity, then the EITC should be prorated based on the combined NJ allocated income.
11.
Allowable credit
Subtract line 10 from line 9 and enter onto line 11. If this subtraction is zero or less, make no entry.
12.
Current year credit
Choose the lesser of line 3 or line 11 and enter onto line 12.
13.
Carryover credit
Subtract line 12 from line 3 and enter onto line 13. This amount should also be entered into line 42 of Form NJ-1040,
line 40 of Form NJ-1040NR, or line 28 of Form NJ-1041.
Part V
SHELTERED WORKSHOP TAX CREDIT CARRYOVER WORKSHEET
The amount of the tax credit that cannot be applied to the current tax period due to the applicable limitations can be carried
over to the seven privilege periods following the privilege period for which the credit was allowed. Complete this worksheet to
validate the tax credit carryover amount.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial