Examples of Urban Enterprise Zones in a sentence
A taxpayer that is engaged in the conduct of business within a qualified municipality and who is not receiving a benefit under the “New Jersey Urban Enterprise Zones Act” may claim a tax credit equal to $2,500 for each new full-time position at that location in credit year one and $1,250 for each new full-time position at that location in credit year two.To claim this credit, the taxpayer must complete Form 313 and attach it to the tax return.
Incentives are paid to the installation contractor and the contractor will invoice the customer for the remaining balance of the installation.The Program Manager will investigate additional/enhanced incentives for distressed communities such as Urban Enterprise Zones (UEZ) and work with Board Staff to determine if additional incentives are appropriate.Religious facilities15 which are metered residentially will be permitted to participate in the Direct Install Program.
Further information can be obtained from the New Jersey Urban Enterprise Zones Authority, Department of Commerce and Economic Development, PO Box 829, Trenton, New Jersey 08625-0829, phone (609) 292-1912.The forms required to validate the employee tax credit (Form 300) and the investment tax credit (Form 301) are available from Taxpayer Forms Services, which can be contacted by following the instructions on page 11.
To qualify for the credit, the investment must be approved by the Urban Enterprise Zones Authority.
A taxpayer that has been designated as a “qualified business” as defined in the New Jersey Urban Enterprise Zones Act, N.J.S.A. 52:27H-60 et seq., may qualify for either an employee tax credit or an investment tax credit.
This tax abatement program should be distinguished from the automatic, 10-year tax abatements the State allows for certain investment with Urban Enterprise Zones.
To be eligible, the taxpayer must have been certified as a qualified business by the Urban Enterprise Zones Authority.