Form 323 Residential Economic Redevelopment and Growth Tax Credit - New Jersey

What Is Form 323?

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 323 Residential Economic Redevelopment and Growth Tax Credit?
A: Form 323 Residential Economic Redevelopment and Growth Tax Credit is a tax credit program offered by the state of New Jersey to incentivize residential economic redevelopment and growth.

Q: Who is eligible to claim the tax credit?
A: Eligible entities include developers, owners, and operators of qualified residential projects in New Jersey.

Q: What are the requirements to qualify for the tax credit?
A: To qualify for the tax credit, a residential project must meet certain criteria such as being located in a designated growth area, creating a minimum number of residential units, and meeting affordability requirements.

Q: How much is the tax credit?
A: The amount of the tax credit varies depending on the size and location of the residential project. The tax credit can be up to 20% of eligible project costs.

Q: How can I claim the tax credit?
A: To claim the tax credit, eligible entities must complete and submit Form 323 to the New Jersey Economic Development Authority.

Q: Is there a deadline for submitting Form 323?
A: Yes, there is a deadline for submitting Form 323. The specific deadline may vary, so it's important to check with the New Jersey Economic Development Authority for the most up-to-date information.

Q: Are there any limitations or restrictions for the tax credit?
A: Yes, there are certain limitations and restrictions for the tax credit. For example, the tax credit cannot exceed the entity's tax liability, and the tax credit cannot be transferred or sold to another entity.