N.J. Admin. Code § 18:7-3.17

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:7-3.17 - Tax credits

(a) The following are credits permitted against the corporation business tax:

1. Business Employment Incentive Grant (BEIP), N.J.S.A. 34:1B-129;

2. Urban Enterprise Zone Employee Tax Credit, N.J.S.A. 52:27H-78;

3. Urban Enterprise Zone Investment Tax Credit, N.J.S.A. 52:27H-78;

4. Redevelopment Authority Project Tax Credit, N.J.S.A. 55:19-13;

5. Research and Development Tax Credit, N.J.S.A. 54:10A-5.24;

6. Manufacturing Equipment and Employment Investment Tax Credit, N.J.S.A. 54:10A-5.18;

7. New Jobs Investment Tax Credit, N.J.S.A. 54:10A-5.6;

8. Business Retention and Relocation Assistance Act (BRRAG), N.J.S.A. 34:1B-114;

9. Small New Jersey Based High Technology Business Investment Tax Credit, N.J.S.A. 54:10A-5.30;

10. HMO Assistance Fund Tax Credit, N.J.S.A. 17B:32B-12;

11. Effluent Equipment Tax Credit, N.J.S.A. 54:10A-5.31;

12. Neighborhood Revitalization State Tax Credit, N.J.S.A. 52:27D-492;

13. AMA Tax Credit, N.J.S.A. 54:10A-5a.f;

14. Economic Recovery Tax Credit, N.J.S.A. 52:27BBB-55;

15. Sheltered Workshop Tax Credit, N.J.S.A 54:10A-5.38;

16. Urban Transit Hub, N.J.S.A 34:1B-209;

17. Offshore Wind Economic Development, N.J.S.A. 34:1B-209.4;

18. Grow New Jersey Assistance Tax Credit, N.J.S.A. 34:1B-244;

19. Angel Investor Credit, N.J.S.A. 54:10A-5.30; and

20. Residential Economic Recovery and Growth Tax Credit, N.J.S.A. 52:27D-489f.

(b) Any credit carryover should be taken in the manner set forth in the section granting the relevant credit and should be applied in the sequence that the credits are listed in (a) above. If the credit carryover section is silent about whether a carryover is allowed, no carryover is permitted.

(c) Corporate tax credits may not be used to decrease the tax due calculated under the alternative minimum assessment. 54:10A-5a.

N.J. Admin. Code § 18:7-3.17

Amended by 49 N.J.R. 1694(a), effective 6/19/2017