Form 311-MISC Neighborhood Revitalization State Tax Credit for Business Taxes Other Than the New Jersey Corporation Business Tax - New Jersey

Form 311-MISC is a New Jersey Department of the Treasury form also known as the "Neighborhood Revitalization State Tax Credit For Business Taxes Other Than The New Jersey Corporation Business Tax". The latest edition of the form was released in September 1, 2008 and is available for digital filing.

Download an up-to-date fillable Form 311-MISC in PDF-format down below or look it up on the New Jersey Department of the Treasury Forms website.

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311-MISC
NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT FOR BUSINESS
FORM
(9-08, R-2)
TAXES OTHER THAN THE NEW JERSEY CORPORATION BUSINESS TAX
FOR RETURN PERIODS ENDING AFTER DECEMBER 31, 2007
Return period beginning ___________________, ___________ and ending ___________________, ___________
Name as Shown on Return
Federal ID Number
NJ Corporation Number
READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM
PART I
QUALIFICATIONS
1. Has the taxpayer received and attached a copy of the tax credit certificate issued by the commissioner
of the Department of Community Affairs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
2. Did the taxpayer provide the assistance within the same year in which the commissioner issued the
certificate?
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
If the answer to either question 1 or 2 is “NO”, do not complete the rest of this form. The taxpayer is not eligible for this tax credit. Otherwise,
go to Part II.
PART II
CALCULATION OF THE NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT
3. Enter the amount of assistance approved by the Department of Community Affairs . . . . . . . . . . . . . . . . .
3.
4. Total tax credit available - enter the lesser of line 3 or $1,000,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
NOTE: Taxpayers other than those subject to the public utility taxes or the marine insurance tax should continue to Part III. Taxpayers
subject to the public utility taxes or the marine insurance tax should only complete Parts I and II and send this form to the
appropriate address in the instructions for the credit to be included in their tax calculations.
PART III
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
5. Enter the name of the tax to which the credit will be applied
6. Enter the appropriate tax liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Other tax credits taken on the current year’s tax return (from Part IV). . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Subtract line 7 from line 6. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Enter the amount from Part II, line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Allowable credit for the current tax period - Enter the lesser of line 8 or line 9 here and on the
appropriate tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
NOTE: There are no carryover provisions for this tax credit.
PART IV
OTHER TAX CREDITS TAKEN FOR CURRENT YEAR
11. Guaranty Fund Assessment Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Other (enter name) ___________________________________________________ . . . . . . . . . . . . . . . 12.
13. Other (enter name) ___________________________________________________ . . . . . . . . . . . . . . .. 13.
14. Other (enter name) ___________________________________________________ . . . . . . . . . . . . . . . 14.
15. Total of lines 11 through 14. Enter here and on line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
311-MISC
NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT FOR BUSINESS
FORM
(9-08, R-2)
TAXES OTHER THAN THE NEW JERSEY CORPORATION BUSINESS TAX
FOR RETURN PERIODS ENDING AFTER DECEMBER 31, 2007
Return period beginning ___________________, ___________ and ending ___________________, ___________
Name as Shown on Return
Federal ID Number
NJ Corporation Number
READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM
PART I
QUALIFICATIONS
1. Has the taxpayer received and attached a copy of the tax credit certificate issued by the commissioner
of the Department of Community Affairs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
2. Did the taxpayer provide the assistance within the same year in which the commissioner issued the
certificate?
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
NO
If the answer to either question 1 or 2 is “NO”, do not complete the rest of this form. The taxpayer is not eligible for this tax credit. Otherwise,
go to Part II.
PART II
CALCULATION OF THE NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT
3. Enter the amount of assistance approved by the Department of Community Affairs . . . . . . . . . . . . . . . . .
3.
4. Total tax credit available - enter the lesser of line 3 or $1,000,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
NOTE: Taxpayers other than those subject to the public utility taxes or the marine insurance tax should continue to Part III. Taxpayers
subject to the public utility taxes or the marine insurance tax should only complete Parts I and II and send this form to the
appropriate address in the instructions for the credit to be included in their tax calculations.
PART III
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
5. Enter the name of the tax to which the credit will be applied
6. Enter the appropriate tax liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.
7. Other tax credits taken on the current year’s tax return (from Part IV). . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
8. Subtract line 7 from line 6. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
9. Enter the amount from Part II, line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9.
10. Allowable credit for the current tax period - Enter the lesser of line 8 or line 9 here and on the
appropriate tax return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
NOTE: There are no carryover provisions for this tax credit.
PART IV
OTHER TAX CREDITS TAKEN FOR CURRENT YEAR
11. Guaranty Fund Assessment Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Other (enter name) ___________________________________________________ . . . . . . . . . . . . . . . 12.
13. Other (enter name) ___________________________________________________ . . . . . . . . . . . . . . .. 13.
14. Other (enter name) ___________________________________________________ . . . . . . . . . . . . . . . 14.
15. Total of lines 11 through 14. Enter here and on line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
Form 311-MISC
Instructions for Form 311-MISC
(9-08, R-2)
NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT FOR BUSINESS
TAXES OTHER THAN THE NEW JERSEY CORPORATION BUSINESS TAX
Purpose of this Form - This schedule must be completed by any taxpayer that claims a tax credit as provided for in the Neighborhood
Revitalization State Tax Act, N.J.S.A. 52:27D-490 et seq. and N.J.A.C. 5:47 et seq. Qualifying taxes include those taxes imposed on
business related income including but not limited to the tax imposed on marine insurance companies, the tax on insurers generally, the sewer
and water public utility taxes and the petroleum products gross receipts tax. In order to qualify for this tax credit, the taxpayer must have
received a tax credit certificate from the Department of Community Affairs for providing funds to implement a qualified neighborhood
preservation and revitalization project. If the taxpayer claims this credit on a tax return, a completed Form 311-MISC must be attached to
the return to validate the claim.
PART I
QUALIFICATIONS
In order to be eligible for the tax credit, the answer to both questions 1 and 2 must be “YES”. If the answer to either question is “NO”, the
taxpayer is not entitled to the Neighborhood Revitalization State Tax Credit.
A copy of the tax credit certificate issued by the commissioner of the Department of Community Affairs must be attached along with Form
311-MISC to the tax return. Failure to attach this certificate will result in the denial of the tax credit claimed.
PART II
CALCULATION OF THE NEIGHBORHOOD REVITALIZATION STATE TAX CREDIT
The tax credit amount is equal to 100% of the approved assistance provided to DCA to implement a qualified neighborhood preservation
and revitalization project. The maximum credit allowed in any taxable year is $1,000,000.
NOTE: If you are subject to any of the designated taxes below, do not continue to Part III. Send this form to the address below to insure
that the tax calculation will reflect the allowable Neighborhood Revitalization State tax credit.
TAX
ADDRESS
Public Utility Franchise Tax
NJ Division of Taxation
Public Utility Gross Receipts Tax
Public Utility Tax Section
Public Utility Excise Tax
PO Box 246
Trenton, NJ 08695-0246
NJ Division of Taxation
Marine Insurance Tax
Special Audit Section
PO Box 269
Trenton, NJ 08695-0269
PART III
CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
Line 5 - Enter the name of the tax that this credit will be applied against. Qualifying taxes include those taxes imposed on business related
income including but not limited to the tax imposed on the tax on insurers generally and the petroleum products gross receipts tax.
Line 6 - Enter the tax liability for the tax reported on line 5 from the appropriate tax return.
Line 7 - Enter the total of any other tax credits claimed on the current tax return as reported on line 15, Part IV.
Line 10 - The allowable credit for the current tax period is reported on line 10 and carried to the appropriate tax return.
PART IV
OTHER TAX CREDITS TAKEN FOR CURRENT YEAR
Complete Part IV if any other tax credits were claimed for the current tax period.
UNUSED TAX CREDITS
There are no carryover provisions for this tax credit. Any unused tax credits are forfeited.
FOR ADDITIONAL INFORMATION CONTACT: New Jersey Department of Community Affairs, Division of Community Resources, PO Box
811, 101 South Broad Street, Trenton, NJ 08625, phone (609) 633-6286.

Download Form 311-MISC Neighborhood Revitalization State Tax Credit for Business Taxes Other Than the New Jersey Corporation Business Tax - New Jersey

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