Form 317 – Fill Out and Use This PDF

	FORM 317	NEW JERSEYCORPORATION BUSINESS TAX
		SHELTERED WORKSHOPTAX CREDIT
	(7-08, R-2)
		FOR RETURN PERIODS ENDING ON AND AFTER JULY31, 2008

READ THE INSTRUCTIONS BEFORE COMPLETING THIS FORM

PART I		QUALIFICATIONS
1.	Is each employee for which a credit is claimed a “Qualified Person” in accordance with P.L. 2005, c. 318? . . . .			YES				NO
2.	Did each employee for which a credit is claimed work for at least 26 weeks during the privilege period and
	work at least 25 hours per week at or under the supervision of a sheltered workshop?			YES			NO

NOTE: If the answer to either of the above questions is “NO”, do not complete the rest of this form. The taxpayer does not qualify for the sheltered workshop tax credit, otherwise, go to Part II.

PART II			CALCULATION OF THE AVAILABLE SHELTERED WORKSHOPTAX CREDIT
			(A)		(B)		(C)		(D)
		Social Security Number			Name		Total Wages	20% of Column C - Max $1,000
3.
4.
5.
6.
7.		. . . . .Total of Column D		.	. . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .
8.		Enter the carryover from Part IV, line 4, from prior year . . .				. . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .
9.		Total Credit Available - Enter the total of line 7 plus line 8 .				. . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .
PART III			CALCULATION OF THE ALLOWABLE CREDIT AMOUNT
10.	Enter tax liability from page 1, line 11 of CBT-100 or BFC-1, or line 6 of CBT-100S							10.
11.	Enter the required minimum			tax liability as indicated in instruction (b) for Part III				11.
12.	Subtract line 11 from line 10			.	. . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .	12.
13.	Enter 50% of the tax liability reported on line 10					. . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .	13.
14.	Enter the lesser of line 12 or line 13					. . . . . . . . . .	. . . . . . . . . . . . . . . . . . . . . . .	14.
15.	Tax Credits taken on current year’s return
	a)	Urban Transit Hub Tax Credit				__________________________
	b)	HMO Assistance Fund Tax Credit				__________________________
	c)	New Jobs Investment Tax Credit				__________________________
	d)	Urban Enterprise Zone Tax Credit				__________________________
	e)	Redevelopment Authority Project Tax Credit				__________________________
	f)	Recycling Equipment Tax Credit				__________________________
	g)	Manufacturing Equipment and Employment
		Investment Tax Credit . .		.	. . . . . . . . . . . . . . . . . . . . . . .	__________________________
	h)	Research and Development Tax Credit				__________________________
	i)	Small New Jersey-Based High-Technology
		Business Investment Tax Credit				__________________________
	j)	Neighborhood Revitalization State Tax Credit				__________________________
	k)	Effluent Equipment Tax Credit				__________________________
	l)	Economic Recovery Tax Credit				__________________________
	m) Remediation Tax Credit .			.	. . . . . . . . . . . . . . . . . . . . . . .	__________________________
	n)	AMATax Credit		.	. . . . . . . . . . . . . . . . . . . . . . .	__________________________
	o)	Business Retention and Relocation Tax Credit				__________________________ . .Total		15.

PART III Continued

16. Subtract line 15 from line 14. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

17. Allowable credit for the current tax period - Enter the lesser of line 16 or Part II, line 9 here and on
Schedule A-3 of the CBT-100, the BFC-1, or the CBT-100S	17.

PART IV SHELTERED WORKSHOPTAX CREDIT CARRYOVER

Complete this schedule if the allowable tax credit is less than the total credit available for the current year or if a tax credit was carried forward from a previous tax year. Read the instructions for Part IV before completing this schedule.

A	B	C	D	E	F	G	H
2006	2007	2008	2009	2010	2011	2012	2013

1.Enter the tax credit calculated for each tax year*

2.Enter the amount used in tax year:

a)2006

b)2007

c)2008

d)2009

e)2010

f)2011

g)2012

h)2013

3.Carryover amount - Line 1 minus Lines 2(a) through 2(h)

4. Total tax credit carryover, total of line 3, columns Athrough H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

* Exclude the amount of any tax credit carried over from a prior tax year.

Form 317 (7-08,R-2)

Page 2

PURPOSEOFTHISFORM-This schedule must be completed by any taxpayer claiming a Sheltered WorkshopTax Credit and/or credit carry forward as provided for in P.L. 2005, c.318. In general, a tax credit is allowed in an amount equal to 20% of the salary and wages paid by the taxpayer during the privilege period for the employment of a qualified person but cannot exceed $1,000 for each qualified person for the privilege period. If the taxpayer claims this credit on Form CBT-100, CBT-100S or BFC-1, a completed Form 317 must be attached to the return to validate the claim.

NOTE: Only complete the applicable lines from Parts II, III and IV where the full amount of the sheltered workshop tax credit claimed on the current return is the result of a sheltered workshop tax credit carried forward from a previous tax year.

DEFINITIONS:

Qualified Person - means an extended employee, within the meaning of that term as set forth in section 2 of P.L.1971, c.272 (C.34:16-40), to whom the Commissioner of Labor, under subsection (b) of section 18 of P.L.1966, c.113(C.34:11-56a17) shall have issued a special license authorizing employment at wages less than the minimum wage rate, and who, for at least 26 weeks during the privilege period, shall have performed at least 25 hours per week of work at or under the supervision of a sheltered workshop pursuant to a contract between the taxpayer and the sheltered workshop.

Sheltered Workshop - means an occupation-oriented facility operated by a nonprofit agency with which the Division of Vocational Rehabilitation Services in the Department of Labor shall have entered into a contract under section 4 of P.L.1971, c.272 (C.34:16- 42) to furnish extended employment programs to eligible individuals.

PART I - QUALIFICATIONS

The answer to both questions must be “YES”. If the answer to either question is “NO”, the taxpayer is not entitled to the sheltered workshop tax credit.

PART II - CALCULATION OF THE AVAILABLE SHELTERED WORKSHOPTAX CREDIT

Enter the information in ColumnsAthrough D for each qualified person for which a tax credit is claimed. Enter in Column D the lesser of 20% of the amount in Column C or $1,000. Attach a schedule if additional entries must be made.

PART III - CALCULATION OF THE ALLOWABLE CREDIT AMOUNT

a)The allowable sheltered workshop tax credit for the current tax period is calculated in PART III. The amount of this credit in addition to the amount of any other tax credits taken is limited to 50% of the taxpayer’s total tax liability and cannot exceed an amount which would reduce the total tax liability below the statutory minimum.

b)The minimum tax is assessed based on the New Jersey Gross Receipts as follows:

New Jersey Gross Receipts	Minimum Tax
Less than $100,000		$500
$100,000 or more but less than $250,000		$750
$250,000 or more but less than $500,000		$1,000
$500,000 or more but less than $1,000,000		$1,500
$1,000,000 or more		$2,000

provided however that for a taxpayer that is a member of an affiliated or controlled group which has a total payroll of $5,000,000 or more for the return period, the minimum tax shall be $2,000. Tax periods of less than 12 months are subject to the higher minimum tax if the prorated total payroll exceeds $416,667 per month.

c) The priorities set forth in this Corporation Business Tax form follow Regulation N.J.A.C. 18:7-3.17.

PART IV - SHELTERED WORKSHOPTAX CREDIT CARRYOVER

The amount of the tax credit that cannot be applied to the current tax period due to the applicable limitations can be carried over to the seven privilege periods following the privilege period for which the credit was allowed. Complete Part IV to validate the tax credit carryover amount.