New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 7 - CORPORATION BUSINESS TAX ACT
Subchapter 3 - COMPUTATION OF TAX
Section 18:7-3.17 - Tax credits
Universal Citation: NJ Admin Code 18:7-3.17
Current through Register Vol. 56, No. 18, September 16, 2024
(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.
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