Home
Forms Library
Form 316 Business Retention and Relocation Tax Credit For Return Periods Beginning on and After July

Form 316 Business Retention and Relocation Tax Credit For Return Periods Beginning on and After July 2026

Form 316 Business Retention and Relocation Tax Credit For Return Periods Beginning on and After July Preview on Page 1

See details

4.3 out of 5

29 votes

The document is Form 316 for the New Jersey Corporation Business Tax, specifically for claiming the Business Retention and Relocation Tax Credit. It outlines taxpayer qualifications, calculations for available tax credits, allowable credit amounts, and carryover provisions. Taxpayers must confirm eligibility by answering specific questions and attach a tax credit certificate to validate their claim. The form includes detailed instructions on how to calculate the credit based on tax liability and minimum tax requirements.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Form 316 Business Retention and Relocation Tax Credit For Return Periods Beginning on and After July with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open it in the editor.
Begin with Part I, where you must confirm your qualifications. Answer 'YES' to both questions regarding your agreement with the New Jersey Commerce Commission and the attachment of your tax credit certificate.
Proceed to Part II. Enter the approved tax credit amount from your certificate in line 3, followed by any carried forward credits from line 4. Sum these amounts for line 5.
In Part III, input your tax liability from the appropriate CBT form in line 6. Calculate the required minimum tax for line 7 based on your gross receipts.
Subtract line 7 from line 6 for line 8, then calculate 50% of your tax liability for line 9. Enter the lesser of lines 8 or 9 in line 10.
List any other tax credits taken on current year’s return in line 11 and subtract this total from line 10 for line 12.
Finally, enter the lesser of lines 5 or 12 as your allowable credit for the current period in line 13.

Start using our platform today to easily complete Form 316 online for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is the employee retention tax credit taxable?

While the ERC is technically not taxable income in and of itself, the ERC will still affect your payroll deductions. As an employer or business that receives the employee retention credit, you must reduce your payroll expense deduction by the amount of the ERC claimed.

Who doesnt qualify for ERC?

Another group who is not eligible to claim the ERC is business owners without employees. You must have at least one full-time employee to claim this credit. The ERTC is a credit specifically aimed at employee retention, making it inapplicable to business owners without employees.

Who is eligible for the employee retention tax credit?

A1. To qualify for ERC, you need to have been subject to a qualifying government order related to COVID-19 that caused a full or partial suspension of your trade or business operations. The government order may be at the local, state or federal level.

What is the employee retention tax credit 2025?

The deadline to claim ERC for taxable quarters in 2020 was April 15, 2024, and the deadline to claim ERC for taxable quarters in 2021 was April 15, 2025. The tax bill would thus appear to render ineligible all pending claims that were made after January 31, 2024, which are likely to be considerable in number.

When did the employee retention tax credit start?

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, provides for an employee retention tax credit (Employee Retention Credit) that is designed to encourage Eligible Employers to keep employees on their payroll despite experiencing an economic hardship related to COVID-19.

Is the IRS still paying out ERC?

The ERC program is still active, and claims for 2021 periods can be filed through April 15, 2025, but expect docHub processing delays and additional scrutiny from the IRS on any claims filed after that date.

What are the new rules for Employee Retention Credit?

The new law retroactively disallows any ERC claims for Q3 and Q4 of 2021 filed after January 31, 2024. Even if your claim would have been valid under prior law, the IRS is now required to deny it. The statute of limitations for ERC audits has been extended to six years for ERC claims for Q3 and Q4 of 2021.

Who is eligible for the employer retention tax credit?

To qualify for ERC, you need to have been subject to a qualifying government order related to COVID-19 that caused a full or partial suspension of your trade or business operations. The government order may be at the local, state or federal level.