FORM 300                                       New Jersey Corporation Business Tax
 (10-21)                                       Urban Enterprise Zone Employees Tax Credit
 2021                                          Note: 2021 is the last year this form will be available.
Name as Shown on Return                        Federal ID Number                                   Unitary ID Number, if applicable
                                                                                                   NU
                                               Read the instructions before completing this form
Combined Return Filers
  The taxpayer is included as a taxable member on a New Jersey combined return. See instructions. 
  Fill in oval if member is not sharing its credit with other members of the group.      
Part I        Taxpayer and Employee Preliminary Qualification
  1.  Is the taxpayer certified by the New Jersey Urban Enterprise Zone Authority (in but not of the New Jersey Department 
  of Community Affairs) as a “qualified business” under the Urban Enterprise Zones Act? ...............................................                                                  YES  NO
  2.  Enter your Urban Enterprise Zone city and permit number                            
  3.  Is the taxpayer in the zone primarily a manufacturing concern or other business that is not retail sales or warehousing 
  oriented?..........................................................................................................................................................................    YES  NO
  4.  Was the new employee hired on or after the date that the taxpayer was certified as a “qualified business”? ................                                                        YES  NO
  5.  Was the new employee hired as a full-time, permanent employee in the tax year immediately prior to the tax year for 
  which the credit is claimed?.............................................................................................................................................              YES  NO
  6.  Was the new employee employed as a full-time permanent employee for at least six continuous months by the 
  taxpayer during the tax year for which the credit is claimed? ..........................................................................................                               YES  NO
  7.  Is the total number of full-time, permanent employees employed by the taxpayer in the zone during the calendar 
  year greater than the total number previously employed in the zone during any prior calendar year during the period 
  beginning with the date of zone designation? .................................................................................................................                         YES  NO
Note:    If the answer to any of the above questions is “NO,” do not complete the rest of this form. The taxpayer does not qualify for this tax credit. 
         Otherwise, go to Part II.
Part II       Employee Qualifications for the $1,500 Credit
  8.  Was the new employee a resident of any qualifying municipality in which a designated zone is located? .....................                                                        YES  NO
  9.  Was the new employee immediately prior to employment by the taxpayer either unemployed for at least 90 days or 
  dependent upon public assistance as the primary source of income? ............................................................................                                         YES  NO
  If the answer to both questions 8 and 9 is “YES,” enter the information required on Schedule II. 
  If the answer to either question 8 or 9 is “NO,” the taxpayer does not qualify for the $1,500 credit. Go to Part III to see if the taxpayer qualifies for the 
  $500 credit.
Part III      Employee Qualifications for the $500 Credit
 10.  Was the new employee a resident of any qualifying municipality in which a designated enterprise zone is located? ....                                                              YES  NO
  11.  Was the new employee immediately prior to employment by the taxpayer either unemployed or employed at a 
  location outside of the municipality in which taxpayer’s business is located? .................................................................                                        YES  NO
  If the answer to both questions 10 and 11 is “YES,” enter the information required on Schedule III.
  If the answer to either question 10 or 11 is “NO,” the taxpayer does not qualify for the $500 credit.
Part IV       Calculation of Credit Available
 12.  $1,500 CREDIT: From Schedule II, line 5                      x $1,500 ..............................................                                             12.
 13.  $500 CREDIT: From Schedule III, line 5                       x $500 ...................................................                                          13.
 14.  Urban Enterprise Zone Employees Tax Credit carried forward from prior year .....................................................                                 14.
 15.  Total credit available (add lines 12, 13, and 14) ....................................................................................................           15.
Part V        Calculation of the Allowable Credit Amount and Carryforward
              (Combined return filers DO NOT complete Part V. Continue with Part VI.)
 16.  Enter tax liability from page 1, line 2 of CBT-100, CBT-100S, or BFC-1 ...............................................................                           16.
 17.  Enter the required minimum tax liability (see instructions) .........................................................................................            17.
 18.  Subtract line 17 from line 16 .................................................................................................................................. 18.
 19.  Other tax credits used by taxpayer on current year’s return (see instructions):
      (a)                          
      (b)                          
      (c)                          
      (d)                                                                             .......................................... Total                                 19.
 20.  Subtract line 19 from line 18. If zero or less, enter zero . ......................................................................................              20.
 21.  Allowable credit for the current tax period. Enter the lesser of line 15 or line 20 here and on Part I, Schedule 
     A-3 of the CBT-100, CBT-100S, or BFC-1.............................................................................................................               21.
 22.  Amount of credit carryforward to following year’s return (subtract line 21 from line 15) ........................................                                22.

Name as Shown on Return               Federal ID Number                                                             Unitary ID Number, if applicable
                                                                                                                    NU
Part VI Calculation of Allowable Credit Amount and Carryforward – Combined Return Filers ONLY
Section A – ALL Combined Return Filers
 23.  Enter the group tax liability from Schedule A, Part III, line 5, column (a) of CBT-100U ..........................................                               23.
 24.  Enter the aggregate minimum tax of combined group members (see instructions)                               ...................................................   24.
 25.  Subtract line 24 from line 23 .................................................................................................................................. 25.
 26.  Other tax credits used by combined group on current year’s return (see instructions):
 (a)                                 
 (b)                                 
 (c)                                 
 (d)                                                                                                             .......................................... Total      26.
 27.  Subtract line 26 from line 25. If zero or less, enter zero ........................................................................................              27.
 28.  Allowable credit for the current tax period. Enter the lesser of line 15 or line 27. If sharing, also enter in the 
 member’s column of Part I, Schedule A-3 of the CBT-100U .................................................................................                             28.
If SHARING credit, complete line 29.
If NOT sharing credit, skip line 29 and complete Section B.
 29.  Amount of credit carryover to following year’s return (subtract line 28 from line 15) .............................................                              29.
Section B – Combined Return Filers NOT Sharing Credit
 30.  a)  Enter combined group tax liability from line 23 .......................................               30a.
   b)  Divide line 30a by the combined group allocation factor from 
        Schedule J, line 9 .................................................................................... 30b.
   c)  Member’s share of combined group tax liability – Multiply line 30b by member’s allocation factor from 
        Schedule J, line 9 ....................................................................................                                                        30c.
 31.  Required minimum tax liability ................................................................................................................................  31. 2,000
 32.  Subtract line 31 from line 30c ................................................................................................................................. 32.
 33.  Other tax credits used by taxpayer on current year’s return (see instructions):
 (a)                                 
 (b)                                 
 (c)                                 
 (d)                                                                                                             .......................................... Total      33.
 34.  Subtract line 33 from line 32. If zero or less, enter zero .........................................................................................             34.
 35.  Allowable credit for the current tax period. Enter the lesser of line 28 or line 34 here and in the member’s 
 column of Part I, Schedule A-3 of the CBT-100U ...................................................................................................                    35.
 36.  Amount of credit carryover to following year’s return (subtract line 35 from line 15) ..............................................                             36.

                                                            Instructions for Form 300 
                                             Urban Enterprise Zone Employees Tax Credit
Purpose of This Form
Effective August 17, 2021, no new applications will be accepted  for the Urban Enterprise Zone Employees Tax Credit pursuant to P.L. 2021, c. 197.
This form must be completed by any taxpayer who is a certified “qualified business” claiming an Urban Enterprise Zone Employees Tax Credit and/or credit 
carryforward as provided for in the “New Jersey Urban Enterprise Zones Act,” P.L. 1983, c. 303, as amended by P.L. 1988, c. 93, N.J.S.A. 52:27H-60 et 
seq. If the taxpayer claims this tax credit on Form CBT-100, CBT-100U, CBT-100S, or BFC-1, a completed Form 300 must be included with the return to 
validate the claim.  
Certification as a “qualified business” must be obtained from the New Jersey Urban Enterprise Zone Authority (in but not of the New Jersey Department of 
Community Affairs), PO Box 822, Trenton, New Jersey 08625-0822.
The Urban Enterprise Zone Employees Tax Credit cannot be claimed in the same year that an Urban Enterprise Zone Investment Tax Credit is claimed 
regardless of whether those credits were earned for the tax year or carried forward from a previous year.
Parts V and VI are used to calculate the allowable credit and carryover. Taxpayers filing Forms CBT-100, CBT-100S, or BFC-1 complete Part V and 
CBT-100U filers complete Part VI.
Note:  Complete only Parts IV–VI if the full amount of the credit claimed on the current return is the result of a credit carried forward from a previous tax year.

Combined Return Filers
If filing a combined return, this form must be completed by the member that earned the credit. All combined return filers must check the combined return 
filers box at the top of the form and complete Part VI, Section A. 
Members Opting Not to Share. In general, tax credits are earned by a member of the combined group and are shareable with the combined group. 
However, members are not required to share their credits. See N.J.S.A. 54:10A-4.6.i and TB-90(R), Tax Credits and Combined Returns. In addition to 
Section A, members that choose not to share must also complete Part VI, Section B and fill in the oval at the top of the form to indicate they are not sharing 
the credit.

           Taxpayers must include the appropriate credit form in the year the credit was earned even if they are not claiming the credit on their tax 
           return.

Part I – Taxpayer and Employee Preliminary Qualifications
The preliminary qualifications must be met by the taxpayer and each employee for which the one-time credit is claimed. If an answer to any one of the 
questions listed in Part I is “NO,” the taxpayer is not entitled to the credit. Only employees hired on or after the date on which the taxpayer was certified as 
a “qualified business” can qualify for the tax credit.

Part II – Employee Qualifications for the $1,500 Credit and
Part III – Employee Qualifications for the $500 Credit
Once the preliminary qualifications have been met in Part I, the taxpayer must complete Part II and/or Part III to determine whether or not the eligible 
employee(s) qualifies the taxpayer for either the $1,500 or the $500 tax credit. It is important to note that an eligible employee may qualify the taxpayer for 
either the $1,500 credit or the $500 credit, never for both. The employee information required for Part II and Part III must be entered below on Schedule II 
and Schedule III respectively. Include a rider if additional space is required.
Schedule II          Employees Qualifying the Taxpayer for the $1,500 Credit
                     Enter the required information for each employee meeting the qualifications stated in Part I and Part II.
     Social Security Number                  Name                  Municipality in which                      Employment Dates
                                                                   the employee resides                  From                         To
1.
2.
3.
4.
5.   Total number of employees qualifying the taxpayer for $1,500 credit                                  (carry to Part IV, line 12.)
Schedule III         Employees Qualifying the Taxpayer for the $500 Credit
                     Enter the required information for each employee meeting the qualifications stated in Part I and Part III.
     Social Security Number                  Name                  Municipality in which                      Employment Dates
                                                                   the employee resides                  From                         To
1.
2.
3.
4.
5.   Total number of employees qualifying the taxpayer for $500 credit                    (carry to Part IV, line 13.)

Part IV – Calculation of Credit Available 
Follow the instructions on lines 12 through 15 to calculate the total Urban Enterprise Zone Employees Tax Credit.

Part V – Calculation of the Allowable Credit Amount and Carryforward (for CBT-100, CBT-100S, and BFC-1 
Filers only)
For CBT-100, CBT-100S, and BFC-1 filers, the allowable Urban Enterprise Zone Employees Tax Credit for the current year is calculated in Part V. 
Combined return filers do not complete Part V, and must complete Part VI instead. The amount of the credit in addition to the amount of any other tax 
credits cannot exceed an amount that would reduce the total tax liability below the statutory minimum. 
Line 17 – The minimum tax is assessed based on the New Jersey Gross Receipts as follows: 

                              New Jersey Gross Receipts                      CBT-100/BFC-1             CBT-100S
                              Less than $100,000                                         $500          $375
                              $100,000 or more but less than $250,000                    $750          $562
                              $250,000 or more but less than $500,000                 $1,000           $750
                              $500,000 or more but less than $1,000,000               $1,500           $1,125
                              $1,000,000 or more                                      $2,000           $1,500
If a taxpayer is filing a separate return and is a member of an affiliated or controlled group that has a total payroll of $5,000,000 or more for the return 
period, the minimum tax is $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.
Line 19 – Taxpayers claiming multiple credits must list any credits already applied to the tax liability to ensure accuracy of the calculation for maximum 
credit allowable.
Although there is a limitation of the amount of credit allowed in any one tax year, the amount of unused tax credit may be carried forward to a future tax 
year provided that tax year falls within a 20-year period beginning with the date of designation of the enterprise zone, or if later, a period of 20 tax years 
beginning with the date within the designation period upon which the taxpayer is first subject to the Corporation Business Tax Act (1945), P.L. 1945, c. 162, 
N.J.S.A. 54:10A-1 et seq.

Part VI – Calculation of the Allowable Credit Amount and Carryforward for Combined Return Filers
For CBT-100U filers, the allowable Urban Enterprise Zone Employees Tax Credit for the current year is calculated in Part VI. All combined return filers must 
complete Section A. Members that choose not to share their credit must also complete Section B.
Section A – To be completed by ALL combined return filers 
This section calculates the amount of credit allowable for the group. If a member chooses not to share their credit with the group, Section A must still be 
completed to ensure the credit allowed for the member does not exceed the amount that would otherwise be allowed against the group tax liability.
The amount of the credit calculated in this section cannot reduce the tax liability to an amount less than the aggregate statutory minimum tax of the group 
members.
Line 24 – Multiply the number of taxable group members by $2,000 and enter the result.
Line 26 – Combined groups claiming multiple credits must list any credits already applied to the group tax liability to ensure accuracy of the calculation for 
maximum credit allowable.

Section B
This section is used to calculate the amount of credit allowable for members that choose not to share their credit with the group. Section B is completed 
based on the member’s share of the group tax liability. The amount of the credit calculated in this section cannot reduce the tax liability to an amount less 
than $2,000. The amount of the credit is also limited to the amount that would otherwise be allowed against the group tax liability if the member had been 
sharing the credit.
Line 33 – Members claiming multiple credits must list any credits already applied to the member’s tax liability to ensure accuracy of the calculation for 
maximum credit allowable.