Form 304 New Jobs Investment Tax Credit - New Jersey

What Is Form 304?

This is a legal form that was released by the New Jersey Department of the Treasury - a government authority operating within New Jersey. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 304?A: Form 304 is the New JobsInvestment Tax Credit application form in New Jersey.

Q: What is the New Jobs Investment Tax Credit?A: The New Jobs Investment Tax Credit is a tax incentive program in New Jersey that provides credits to businesses for creating new jobs.

Q: How can I qualify for the New Jobs Investment Tax Credit?A: To qualify for the New Jobs Investment Tax Credit, a business must create at least 10 new full-time jobs in New Jersey and make a qualified capital investment.

Q: What is a qualified capital investment?A: A qualified capital investment is an investment in a qualified business facility in New Jersey that meets certain criteria set by the state.

Q: How much is the tax credit for each new job created?A: The tax credit for each new job created is equal to $5,000 per employee.

Q: Can the tax credit be carried forward?A: Yes, any unused portion of the tax credit can be carried forward for up to 20 consecutive taxable years.

Q: Is there a limit to the total amount of tax credits that can be claimed?A: Yes, the total amount of tax credits that can be claimed is limited to $15 million per taxpayer per year.

Q: How can I apply for the New Jobs Investment Tax Credit?A: You can apply for the New Jobs Investment Tax Credit by completing and submitting Form 304 to the New Jersey Division of Taxation.