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FORM (8-06, R-1) 310 NEW JERSEY CORPORATION BUSINESS TAX HMO ASSISTANCE FUND TAX CREDIT Name as Show

FORM (8-06, R-1) 310 NEW JERSEY CORPORATION BUSINESS TAX HMO ASSISTANCE FUND TAX CREDIT Name as Show 2025

FORM (8-06, R-1) 310 NEW JERSEY CORPORATION BUSINESS TAX HMO ASSISTANCE FUND TAX CREDIT Name as Show Preview on Page 1

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The document outlines the HMO Assistance Fund Tax Credit for health maintenance organizations in New Jersey, detailing the process for claiming the credit based on qualifying assessments paid. It includes instructions for calculating the allowable credit amount, which is limited to 20% of the Corporation Business Tax liability and can be claimed over five consecutive privilege periods. The document also specifies minimum tax liabilities and conditions regarding refunds issued by the NJ HMO Assistance Association.

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Click ‘Get Form’ to open it in the editor.
In Part I, enter the name as shown on your return, followed by your Federal ID Number and NJ Corporation Number.
List each qualifying assessment amount along with the corresponding payment date. Ensure that these assessments meet the criteria outlined in the instructions.
Move to Part II and calculate the total qualifying assessment amount. Enter this value in line 1.
For line 2, calculate 50% of line 1 and enter that amount.
On line 3, compute 20% of line 2 and input this figure.
Enter your tax liability from the appropriate CBT form on line 4, followed by the required minimum tax liability on line 5.
Subtract line 5 from line 4 for line 6; if negative, enter zero. For line 7, enter 20% of line 4.
Finally, determine the allowable credit for the current tax period on line 8 by entering the lesser value among lines 3, 6, or 7.

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Who qualifies for the NJ rebate?

Homeowners. If youre a New Jersey homeowner wondering if youre eligible for ANCHOR benefits, you have to meet the following criteria: You owned and occupied a home in the state that served as your primary residence on Oct. 1, 2024. Your 2024 gross New Jersey income did not exceed $250,000.

How to qualify for NJ earned income tax credit?

In general, you must claim and qualify for a 2024 federal Earned Income Tax Credit to be eligible for the NJEITC. However, New Jersey does not follow the federal age limits for the NJEITC program. Residents who are at least 18 years old by the last day of the year may apply, with or without dependents.

What is a 12 digit NJ tax ID number?

* Your New Jersey tax identification (ID) number has 12 digits. If you have a Federal Employer Identification Number (FEIN) assigned by the Internal Revenue Service (IRS), your New Jersey tax ID number is your FEIN followed by a 3 digit suffix. If you do not have a suffix, enter three zeroes.

Who qualifies for NJ earned income credit?

You can claim the NJEITC if you are married, not filing a joint return, had a qualifying child who lived with you for more than half of 2024, and you lived apart from your spouse for the last 6 months of 2024. You are eligible for an NJEITC only if you claim and are allowed a federal EITC.

What is the maximum you can make to qualify for earned income credit?

EITC income limits for 2024 Number of childrenMaximum earned income tax creditMax income: Married joint filers 0 $632 $25,511 1 $4,213 $56,004 2 $6,960 $62,688 3 or more $7,830 $66,819 Sep 8, 2025

What is the $1500 tax credit in NJ?

Sciarrotta said homeowners with incomes of $250,000 or less are eligible for an ANCHOR benefit of $1,000, plus $250 if they are 65 or older. Homeowners making $150,000 or less will receive $1,500, but will get an additional $250 if theyre at least 65.