Form 322 Wind Energy Facility Tax Credit - New Jersey

What Is Form 322?

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 322?
A: Form 322 is a tax form used in New Jersey for claiming the Wind Energy Facility Tax Credit.

Q: Who is eligible for the Wind Energy Facility Tax Credit?
A: Eligible entities include owners of wind energy facilities in New Jersey.

Q: What is the purpose of the Wind Energy Facility Tax Credit?
A: The tax credit encourages the development of wind energy facilities in the state.

Q: How much is the Wind Energy Facility Tax Credit?
A: The tax credit is equal to $0.04 per kilowatt-hour of electricity generated by the wind energy facility.

Q: How can I claim the Wind Energy Facility Tax Credit?
A: You need to complete and file Form 322 with the New Jersey Division of Taxation.

Q: Are there any deadlines for filing Form 322?
A: Yes, Form 322 must be filed by January 31 of the year following the year in which the wind energy facility was placed in service.

Q: Can the tax credit be carried forward?
A: Yes, any unused tax credit can be carried forward for up to 10 years.

Q: Can the Wind Energy Facility Tax Credit be transferred?
A: No, the tax credit cannot be transferred or sold to another entity.