Form 311 Neighborhood Revitalization State Tax Credit - New Jersey

What Is Form 311?

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 311?
A: Form 311 is a document used for claiming the Neighborhood RevitalizationState Tax Credit in New Jersey.

Q: What is the Neighborhood Revitalization State Tax Credit?
A: The Neighborhood Revitalization State Tax Credit is a tax incentive program in New Jersey that encourages private investment in eligible neighborhoods.

Q: Who is eligible for the Neighborhood Revitalization State Tax Credit?
A: Eligible entities include individuals, corporations, and partnerships who make qualified investments in eligible neighborhoods.

Q: What is a qualified investment?
A: A qualified investment is a cash contribution made by an eligible entity to a qualified neighborhood revitalization entity.

Q: How much tax credit can be claimed?
A: The tax credit amount is equal to 100% of the qualified investment.

Q: Is there a maximum amount of tax credits that can be claimed?
A: Yes, there is a $10 million cap on the total amount of tax credits that can be claimed in a fiscal year.

Q: What is the application process for claiming the tax credit?
A: To claim the tax credit, eligible entities must complete and submit Form 311 to the New Jersey Division of Taxation.

Q: Are there any deadlines for submitting Form 311?
A: Yes, the deadline for submitting Form 311 is the 15th day of the fourth month following the close of the fiscal year in which the qualified investment was made.