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FORM 304 New Jersey Corporation Business Tax
2022 New Jobs Investment Tax Credit
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 Qualifications
1. Has the taxpayer invested in property purchased for new or expanded business facilities that created at least 5
new jobs in New Jersey for small or mid-sized business taxpayers (50 for other taxpayers) with median income
of at least $44,450 for tax years beginning in 2014, or $45,100 for tax years beginning in 2015, or $44,800 for
tax years beginning in 2016, or $45,350 for tax years beginning in 2017, or $46,350 for tax years beginning in
2018, or $47,400 for tax years beginning in 2019, or $48,100 for tax years beginning in 2020, $48,800 for tax
years beginning in 2021, or $51,650 for tax years beginning in 2022 ................................................................... YES NO
2. Has the average book value of all real and tangible personal property in New Jersey of the taxpayer increased
over the prior tax year?.......................................................................................................................................... YES NO
3. Is the average employment of the taxpayer in New Jersey in the first tax year of the tax credit greater than that
of the prior tax year?.............................................................................................................................................. 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 Calculation of the New Jobs Investment Tax Credit
Note: All items pertain only to New Jersey factors. Refer to the specific line item instructions for Part II before completing this section.
4. Enter the amounts of the qualified investments made during the current tax year:
(a) 3-year life x 0.35 ..................................................................................... 4a.
(b) 5-year life x 0.70 ..................................................................................... 4b.
(c) 7-year or more life x 1.00........................................................................ 4c.
5. Add lines 4a through 4c ............................................................................................................................. 5.
6. (a) Enter the average New Jersey employment for this tax year............................................................... 6a.
(b) Enter the average New Jersey employment for last tax year............................................................... 6b.
(c) Subtract line 6b from line 6a................................................................................................................. 6c.
(d) Divide line 6a by 2 ................................................................................................................................ 6d.
(e) Enter the number of eligible new jobs. (see instruction) ...................................................................... 6e.
(f) Enter the lesser of lines 6c, 6d, or 6e.................................................................................................... 6f.
7. New Jobs Factor (see instruction):
(a) Small or mid-sized business taxpayers divide line 6(f) by 5 with no remainder. Other taxpayers
divide line 6f by 50 with no remainder ................................................................................................. 7a.
(b) For small or mid-sized business taxpayers, multiply line 7a by 0.01. For other taxpayers, multiply
line 7a by 0.005 ................................................................................................................................... 7b.
(c) For small or mid-sized business taxpayers, enter the lesser of 0.20 or line 7b. For other taxpayers,
enter the lesser of 0.10 or line 7b ........................................................................................................ 7c.
8. Maximum annual credit – Multiply line 5 x line 7c x 0.20 ........................................................................... 8.
9. Prior year qualified investment (see instruction)
Enter the maximum annual credit as determined on line 8 of this form for:
(a) First prior tax year ................................................................................................................................ 9a.
(b) Second prior tax year ............................................................................................................................ 9b.
(c) Third prior tax year ................................................................................................................................ 9c.
(d) Fourth prior tax year .............................................................................................................................. 9d.
10. Total annual credit – Add line 8 and lines 9(a) through (d) ......................................................................... 10.

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Name as Shown on Return                        Federal ID Number                           Unitary ID Number, if applicable
                                                                                           NU
Part III Calculation of the Allowable Credit Amount
         (Combined return filers DO NOT complete Part III. Continue with Part IV.)
  11.  Compensation of all employees in New Jersey attributable to the qualified investment ........................................                                       11.
 12.  Total compensation of all employees in New Jersey ..............................................................................................                     12.
 13.  Divide line 11 by line 12 .......................................................................................................................................... 13.
 14.  Enter tax liability from page 1, line 2 of CBT-100, CBT-100S, or BFC-1 ................................................................                              14.
 15.  Multiply line 14 by line 13 .......................................................................................................................................  15.
 16.  Enter the required minimum tax liability (see instructions) ..........................................................................................               16.
 17.  Subtract line 16 from line 15 ...................................................................................................................................    17.
 18.  Enter 50% of the reduced tax liability entered on line 15 .......................................................................................                    18.
 19.  Enter the lesser of line 17 or line 18 .......................................................................................................................       19.
 20.  Other tax credits used by taxpayer on current year’s return:
 (a)                                   
 (b)                                   
 (c)                                   
 (d)                                                                          .............................................Total                                           20.
 21.  Subtract line 20 from line 19. If zero or less, enter zero .........................................................................................                 21.
 22.  Allowable credit for the current tax period. Enter the lesser of line 10 or line 21 here and on Part I, Schedule A-3 
 of the CBT-100, CBT-100S, or BFC-1 ....................................................................................................................                   22.
 23.  Amount of credit available to be refunded (subtract line 22 from line 10).  ............................................................                             23.
 24.  Property taxes attributable to qualified investment (see instructions):
 (a) Property tax paid on new property or 
         Total N.J. property tax paid                             multiplied by line 13 .......................................................                            24a.
 (b) Imputed property tax on new property (15% of rent)                       or imputed property tax on all 
         rented property in N.J. (15% of rent)                               multiplied by line 13 ........................................                                24b.
 (c)  Add lines 24a and 24b ......................................................................................................................................         24c.
 25.  Enter 50% (.50) of line 24c .....................................................................................................................................    25.
 26.  Refund request. Enter the lesser of line 23 or line 25. Enter here and in Part II, Schedule A-3 of the CBT-100, 
 CBT-100S, or BFC-1 ..............................................................................................................................................         26.
Note: There is no carryover provision for this tax credit.

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Name as Shown on Return                       Federal ID Number                                                     Unitary ID Number, if applicable
                                                                                                                    NU
Part IV   Calculation of Allowable Credit Amount – Combined Return Filers ONLY
Section A – ALL Combined Return Filers
 27.  Compensation of all the member’s employees in New Jersey attributable to the qualified investment .................                                                 27.
 28.  Total compensation of all the member’s employees in New Jersey .......................................................................                              28.
 29.  Divide line 27 by line 28.......................................................................................................................................... 29.
 30.  Enter the group tax liability from Schedule A, Part III, line 5 column (a) of CBT-100U ...........................................                                  30.
 31.  Multiply line 30 by line 29 ....................................................................................................................................... 31.
 32.  Aggregate minimum tax of combined group members (see instructions) ...................................................................                              32.
 33.  Subtract line 32 from line 31 ...................................................................................................................................   33.
 34.  Enter 50% of the reduced tax liability entered on line 31 .......................................................................................                   34.
 35.  Enter the lesser of line 33 or line 34 .......................................................................................................................      35.
 36.  Other tax credits used by combined group on current year’s return (see instructions):
     (a)                              
     (b)                              
     (c)                              
     (d)                                                                                                         .......................................... Total         36.
 37.  Subtract line 36 from line 35. If zero or less, enter zero ........................................................................................                 37.
 38.  Allowable credit for the current tax period. Enter the lesser of line 10 or line line 37. If sharing, also enter in the 
 member’s column of Part I, Schedule A-3 of the CBT-100U ..................................................................................                               38.
If SHARING credit, complete lines 39–42.
If NOT sharing credit, skip lines 39–42 and complete Section B.
 39.  Amount of credit available to be refunded (subtract line 38 from line 10).  ............................................................                            39.
 40.  Property taxes attributable to qualified investment (see instructions):
 (a) Property tax paid on new property or 
        Total N.J. property tax paid                       multiplied by line 29 .......................................................                                  40a.
 (b) Imputed property tax on new property (15% of rent)                                                          or imputed property tax on all 
        rented property in N.J. (15% of rent)                                multiplied by line 29 ........................................                               40b.
 (c)  Add lines 40a and 40b ......................................................................................................................................        40c.
 41.  Enter 50% (.50) of line 40c .....................................................................................................................................   41.
 42.  Refund request. Enter the lesser of line 39 or line 41 here and in Part II, Schedule A-3 of the CBT-100U ...........                                                42.
Section B – Combined Return Filers NOT Sharing Credit
 43.  a)  Enter combined group tax liability from line 30 .......................................               43a.
   b)  Divide line 43a by the combined group allocation factor from 
        Schedule J, line 9 .................................................................................... 43b.
   c)  Member’s share of combined group tax liability – Multiply line 43b by member’s allocation factor from 
        Schedule J, line 9 ....................................................................................                                                           43c.
 44.  Multiply line 43c by line 29......................................................................................................................................  44.
 45.  Enter the required minimum tax liability..................................................................................................................          45. 2,000
 46.  Subtract line 45 from line 44 ...................................................................................................................................   46.
 47.  Enter 50% of the reduced tax liability entered on line 44 .......................................................................................                   47.
 48.  Enter the lesser of line 46 or line 47 .......................................................................................................................      48.
 49.  Other tax credits used by taxpayer on current year’s return (see instructions):
     (a)                              
     (b)                              
     (c)                              
     (d)                                                                                                         .......................................... Total         49.
 50.  Subtract line 49 from line 48. If zero or less, enter zero .........................................................................................                50.
 51.  Allowable credit for the current tax period. Enter the lesser of line 38 or line 50 here and in the member’s 
 column of Part I, Schedule A-3 of the CBT-100U ...................................................................................................                       51.
 52.  Amount of credit available to be refunded (subtract line 51 from line 10).  ............................................................                            52.
 53.  Property taxes attributable to qualified investment (see instructions):
 (a) Property tax paid on new property or 
        Total N.J. property tax paid                       multiplied by line 29 .......................................................                                  53a.
 (b) Imputed property tax on new property (15% of rent)                                                          or imputed property tax on all 
        rented property in N.J. (15% of rent)                                multiplied by line 29 ........................................                               53b.
 (c)  Add lines 53a and 53b ......................................................................................................................................        53c.
 54.  Enter 50% (.50) of line 53c .....................................................................................................................................   54.
 55.  Refund request. Enter the lesser of line 52 or line 54 here and in Part II, Schedule A-3 of the CBT-100U ...........                                                55.
Note: There is no carryover provision for this tax credit.

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Name as Shown on Return                            Federal ID Number     Unitary ID Number, if applicable
                                                                         NU
Part V    Certification
The following certifications are required in accordance with N.J.S.A. 54:10A-5.9 of the New Jobs Investment Tax Credit Act.
  1.  For qualified investments made during the current tax year, the taxpayer certifies that the number of new jobs reported on line 6e of Part II, is a 
reasonable estimate of the number of new jobs directly attributable to the qualified investment; and
  2.  For qualified investments made in prior years for which a New Jobs Investment Tax Credit was claimed, the taxpayer certifies:
     (a) The new jobs factor for:                  the first prior year 
                                                   the second prior year 
                                                   the third prior year 
                                                   the fourth prior year 
     (b) The maximum annual tax credit for:        the first prior year 
                                                   the second prior year 
                                                   the third prior year 
                                                   the fourth prior year 
     (c) That the qualified investment property continues to be used in the business or has been disposed of after the expiration of its recovery period; 
       and
     (d) That the new jobs used in the calculation of the new jobs factor continue to qualify as eligible new jobs as defined for the purposes of this credit.

(Signature of Duly Authorized Officer of Taxpayer)                                                  (Date)
Note:  If the taxpayer is unable to make the above certifications, amended returns must be filed reflecting the correct new jobs factors and qualified 
       investments for all affected tax years.

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Instructions for Form 304
New Jobs Investment Tax Credit
The New Jobs Investment Tax Credit is available for investment in new or expanded business facilities that create new jobs in New Jersey.
Investments that qualify for this tax credit must be placed in service or use during tax years beginning after July 7, 1993. The investment
must create at least 5 new jobs (50 new jobs for large businesses) with a median annual compensation of the threshold amount estab-
lished for the particular tax year. Also, to claim this tax credit, the average book value of all real and tangible personal property in New Jer-
sey must have increased over the prior year.
The New Jobs Investment Tax Credit is taken in five equal annual installments. The annual credit cannot exceed 50% of that portion of the
Corporation Business Tax liability that is attributable to and the direct result of the taxpayer’s qualified investment and cannot reduce the
tax liability below the statutory minimum. Although there is no carryover provision for this tax credit, the amount of the unused annual credit
may be refunded to the taxpayer subject to certain limitations.
Parts III and IV are used to calculate the allowable credit and carryover. Taxpayers filing Forms CBT-100, CBT-100S, or BFC-1 complete
Part III and CBT-100U filers complete Part IV.

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.

Definitions Qualified Investments are those real and tangible personal prop-
erty investments purchased for business relocation or expansion in
Expanded Business Facility means any business facility, other New Jersey. Such investments include only:
than a new business facility, resulting from acquisition, construc-
tion, reconstruction, installation, or erection of improvements or 1. Improvements to real property placed in service or use during
additions to existing property if such improvements or additions are tax years beginning after July 7, 1993;
purchased during tax years beginning after July 7, 1993, but only 2. Tangible personal property with respect to which depreciation
to the extent of a taxpayer’s qualified investment in such improve- with a recovery period of three or more years is allowable;
ments or additions.
3. Tangible personal property moved by the taxpayer into New
New Business Facility means a business facility that: Jersey provided that the property has a remaining recovery
a) Is employed by a taxpayer in the conduct of a business that is period of three or more years.
subject to the New Jersey Corporation Business Tax Act, N.J.S.A. Examples of qualified investments may not include:
54:10A-1 et seq. A business facility does not qualify if the taxpay-
er’s only activity with respect to such facility is to lease it to another 1. Property with respect to which the taxpayer’s only activity is to
person; lease it to another person;
b) Is purchased and placed in service or use during tax years be- 2. Repair costs, including materials used in the repair, unless for
ginning after July 7, 1993; federal income tax purposes, the cost of the repair must be
capitalized and not expensed;
c) Was not purchased by a taxpayer from a related person;
3. Airplanes;
d) Was not in service or use during the 90-day period immediately
prior to transfer of the title to the facility. 4. Property primarily used outside New Jersey;
New Employee means a New Jersey resident, hired to fill a reg- 5. Property that is acquired incident to the purchase of the stock
ular, permanent position that did not exist prior to the qualified or assets of the seller;
investment, and would not exist but for the qualified investment. 6. Property for which the cost or consideration cannot be quanti-
The employee must be unrelated to the taxpayer and must not fied with any reasonable degree of accuracy at the time such
have been in its employ during the six months prior to the date that property is placed in service or use.
the qualified investment is placed in service or use. Temporary or
seasonal employees are not considered new employees for the Small or Mid-Sized Business Taxpayer means a taxpayer
purposes of this tax credit. The position held by the employee may that has the following annual payroll and annual gross receipts
be full time or part time. Full time means employment for at least amounts:
140 hours per month at a wage not less than the State or federal Tax Year
minimum wage. Part time means customarily performing such du- Beginning In Payroll Gross Receipts
ties at least 20 hours per week for at least six months during the
2014 $6,599,500 or less $13,199,150 or less
tax year. The hours of part-time employees shall be aggregated to
determine the number of full-time equivalent jobs for the purposes 2015 $6,701,750 or less $13,403,650 or less
of determining the number of eligible new jobs to be used in the 2016 $6,660,800 or less $13,321,800 or less
computation of the new jobs factor. The taxpayer cannot claim a 2017 $6,744,000 or less $13,488,200 or less
credit for the number of new employees that exceeds either the 2018 $6,899,800 or less $13,799,850 or less
increase in the taxpayer’s average employment in New Jersey for 2019 $7,060,400 or less $14,121,100 or less
the tax year, or one-half of the taxpayer’s average employment in 2020 $7,166,600 or less $14,333,500 or less
New Jersey for the tax year. Also, individuals included in the deter- 2021 $7,277,800 or less $14,555,900 or less
mination of the Urban Enterprise Zone Employees Tax Credit or the 2022 $7,709,850 or less $15,420,050 or less
Redevelopment Authority Project Tax Credit must be excluded in
the determination of this tax credit.

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Aggregate Annual Credit                                                   Part I – Qualifications
The aggregate annual credit allowed for a tax year is the sum of:         The taxpayer must meet the qualifications listed in Part I. If the an-
                                                                          swer to any of the questions is “no,” the taxpayer does not qualify 
1) One-fifth of the annual credit amount calculated for prior tax 
                                                                          for the tax credit.
years plus
2) One-fifth of the annual credit amount calculated for the current 
                                                                          Part II – Calculation of the New Jobs Investment 
tax year.
                                                                          Tax Credit
This amount is calculated in Part II of Form 304.
                                                                          Line 4 – Classify property purchased by its depreciable life for fed-
                                                                          eral tax purposes.
Tax Credit Limitations
                                                                          Line 6e –  The number of eligible new jobs must reflect the number 
The New Jobs Investment Tax Credit is allowed as a credit against         of new employees (see definitions) hired by the taxpayer during the 
that portion of the taxpayer’s Corporation Business Tax liability for     tax year. To determine this number, the taxpayer should rank the 
the tax year that is attributable to and the direct result of the taxpay- new employees by annual compensation. If the middle employee’s 
er’s qualified investment and shall not reduce the tax liability for the  annual compensation is less than the required median compen-
tax year to an amount less than the required statutory minimum.           sation of $51,650 for tax years beginning in 2022, then the lowest 
If any amount of the aggregate annual credit remains after the            ranking jobs should be deleted from the list until the middle employ-
above limitations are applied, that amount may be refunded to the         ee’s annual compensation is at least the required median compen-
taxpayer. The amount of the refund cannot exceed 50% of the sum           sation amount. If there are an even number on the list, the top half 
of the property taxes paid in the tax year and the implicit property      must be greater than the required median compensation amount. 
taxes paid through rent or lease payments that are attributable to        The final number of new employees on this list is the number of eli-
and the direct result of the taxpayer’s qualified investment. If the      gible new jobs to be reported on line 6(e), Part II.
taxpayer is unable to ascertain these amounts, the attributable           Line 7a –  Taxpayers who qualify as “small or mid-sized business 
property tax amounts shall be determined by multiplying the total         taxpayers” (see definitions) must divide the amount on line 6(f) by 
New Jersey property taxes paid by a fraction, the numerator of            5. All other taxpayers must divide the amount on line 6(f) by 50.
which is the compensation paid to New Jersey employees whose 
positions are directly attributable to the qualified investment. The      Line 9 –  Report the maximum annual credit calculated for qualified 
denominator is all New Jersey compensation paid for the tax year.         investments made in prior tax years. The appropriate amount can 
                                                                          be found on line 8 of the Form 304 that was filed for the particular 
If any credit for the tax year remains, the amount shall be forfeited.    tax year.
There is no carryover provision for this tax credit.
                                                                          Part III – Calculation of the Allowable Credit 
Certification and Record Keeping
                                                                          Amount (for CBT-100, CBT-100S, and BFC-1 Filers 
The taxpayer must certify for every year during the five-year period      only)
of the credit that the number of new jobs created is as reported on 
the current and prior year tax credit forms, and that the qualified       For CBT-100, CBT-100S, and BFC-1 filers, the total and allowable 
investment property has not been disposed of prior to the end of its      New Jobs Investment Tax Credit for the current year is calculated 
depreciable life.                                                         in Part III. Combined return filers do not complete Part III, and must 
                                                                          complete Part IV instead. The amount of this credit cannot exceed 
The taxpayer must maintain sufficient records for each item of qual-      50% of that portion of the Corporation Business Tax liability that 
ified property to establish:                                              is attributable to and the direct result of the taxpayer’s qualified 
1) Its identity;                                                          investment and cannot reduce the tax liability below the statutory 
                                                                          minimum.
2) Its actual or reasonably determined cost;
                                                                          Line 11 – Include the compensation of employees attributable to all 
3) Its straight-line depreciation life;                                   the qualified investments comprising the Aggregate Annual Credit 
4) The month and the tax year in which it was placed in service;          on Part II, line 10.
5) The amount of credit taken; and                                        Line 16 – The required minimum tax liability is as follows:
6) The date it was disposed of or otherwise ceased to be quali-                        New Jersey Gross Receipts           CBT-100/
fied property.                                                                                                             BFC-1   CBT-100S
                                                                                 Less than $100,000                        $   500 $   375
Specific Instructions for Form 304                                               $100,000 or more but less than $250,000   750     562
Combined Return Filers – If filing a combined return, this form                  $250,000 or more but less than $500,000   1,000   750
must be completed by the member that earned the credit. All com-                 $500,000 or more but less than $1,000,000 1,500   1,000
bined return filers must check the combined return filers box at the             $1,000,000 or more                        2,000   1,500
top of the form and complete Part IV, Section A. 
                                                                          If a taxpayer is filing a separate return and is a member of an affil-
Members Opting Not to Share. In general, tax credits are earned           iated or controlled group that has a total payroll of $5,000,000 or 
by a member of the combined group and are shareable with the              more for the return period, the minimum tax is $2,000. Tax periods 
combined group. However, members are not required to share their          of less than 12 months are subject to the higher minimum tax if the 
credits. See N.J.S.A. 54:10A-4.6.i and TB-90(R), Tax Credits and          prorated total payroll exceeds $416,667 per month.
Combined Returns. In addition to Section A, members that choose 
not to share must also complete Part IV, Section B and fill in the        Line 20 – Taxpayers claiming multiple credits must list any credits 
oval at the top of the form to indicate they are not sharing the credit.  already applied to the tax liability to ensure accuracy of the calcula-
                                                                          tion for maximum credit allowable.

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Lines 23 through 26 – If any unused credit remains after applying would otherwise be allowed against the group tax liability if the mem-
the limitations indicated above, the excess may be refunded to the ber had been sharing the credit.
taxpayer. The amount of the refund is calculated in this section.
Line 49 – Members claiming multiple credits must list any credits
Lines 24a and 24b – Report the amount of property taxes paid already applied to the member’s tax liability to ensure accuracy of
and the amount of implicit property taxes paid through rent or lease the calculation for maximum credit allowable.
payments that were attributable to and the direct result of the tax-
payer’s qualified investment. If the taxpayer is unable to ascertain Lines 52–55 – See Section A instructions for lines 39–42 and lines
these amounts, they will be determined by multiplying the total 40a–40b.
amount of New Jersey property taxes paid and the total amount of
implicit New Jersey property taxes paid by the fraction that was de-
termined on line 13. Part V – Certification
This section must be completed for each tax year during the five-
The priorities set forth in this Corporation Business Tax form follow
year credit period for a qualified investment. If the taxpayer is
N.J.A.C. 18:7-3.17.
unable to make the certifications, amended returns must be filed
reflecting the correct new jobs factors and qualified investments for
Part IV – Calculation of the Allowable Credit all affected tax years.
Amount for Combined Return Filers
For CBT-100U filers, the total and allowable New Jobs Investment
Tax Credit for the current year is calculated in Part IV. 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 mem-
ber 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 exceed
50% of the portion of the group tax liability that is attributable to and
the direct result of the member’s qualified investment and cannot
reduce the tax liability to an amount less than the aggregate statutory
minimum tax of the group members.
Line 27 – Include the compensation of employees attributable to all
the qualified investments comprising the Aggregate Annual Credit on
Part II, line 10.
Line 32 – Multiply the number of taxable group members by $2,000
and enter the result.
Line 36 – 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.
Lines 39 through 42 – If any unused credit remains after applying
the limitations indicated above, the excess may be refunded to the
taxpayer. The amount of the refund is calculated in this section.
Lines 40a and 40b – Report the amount of property taxes paid and
the amount of implicit property taxes paid through rent or lease pay-
ments that were attributable to and the direct result of the member’s
qualified investment. If the member is unable to ascertain these
amounts, they will be determined by multiplying the total amount of
New Jersey property taxes paid and the total amount of implicit New
Jersey property taxes paid by the fraction that was determined on
line 29.
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 liabili-
ty. The amount of the credit calculated in this section cannot exceed
50% of the portion of the member’s share of the group tax liability
that is attributable to and the direct result of the member’s qualified
investment and cannot reduce the tax liability to an amount less than
$2,000. The amount of the credit is also limited to the amount that

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