FORM 325
                                         New Jersey Corporation Business Tax
 (10-21)
                                                      Public Infrastructure Tax Credit
 2021
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 government entity receiving the public infrastructure, developed by the applicant, adopted a 
     resolution and filed it with the New Jersey Economic Development Authority, consenting to the award 
     of the tax credit and the transfer of ownership of the public infrastructure to that government entity, and 
     either: (1) the construction commences after January 1, 2013; (2) the construction is completed, as 
     evidenced by a certificate of occupancy or other certificate of completion, after January 1, 2013; (3) the 
     first monetary or debt service payment occurs after January 1, 2013; or (4) the land is deeded to the 
     government entity after January 1, 2013 ...................................................................................................                  YES     NO
  2.  Does the taxpayer have a Public Infrastructure Tax Credit that was granted by the New Jersey 
     Economic Development Authority? ............................................................................................................                 YES     NO

  3.  Has the taxpayer received a paper tax credit certificate issued by the New Jersey Division of Taxation?                                                     YES     NO
   Check the box to indicate the original certificate has been submitted to the Division of Taxation ........
  4.  Does the taxpayer have a tax incentive profile on the New Jersey eCerts portal with a Public 
     Infrastructure Tax Credit amount available for use? ..................................................................................                       YES     NO
NOTE:If the answer to question 1 or both questions 3 and 4 is  NO, “do not” complete the rest of this form. The taxpayer is                                           not eligible 
        for this tax credit. Otherwise, go to Part II.
Part II     Calculation of the Available Credit
  5.  Amount of the tax credit awarded by the Economic Development Authority .....................................                                          5.
  6.  Total Realty Transfer Fees paid by the applicant for the land and real property on which the public 
     infrastructure project is built ...............................................................................................................        6.
  7.  Amount of the tax credit available to offset the total Realty Transfer Fees paid by the applicant for 
     the project .......................................................................................................................................... 7.
  8.  Amount of the tax credit available to offset the applicant’s Corporation Business Tax liability ..........                                            8.
Part III    Calculation of the Allowable Credit Amount
            (Combined return filers DO NOT complete Part III. Continue with Part IV.)
  9.  Enter tax liability from page 1, line 2 of CBT-100, CBT-100S, or BFC-1 ...........................................                                    9.
 10.  Other tax credits used by taxpayer on current year’s return (see instructions):
     (a)                             
     (b)                             
     (c)                             
     (d)                                                                     ..................................... Total                                    10.
  11.  Subtract line 10 from line 9. If zero or less, enter zero . .....................................................................                    11.
  12. Allowable credit amount. Enter the lesser of line 8 or line 11 here and on Part I, Schedule A-3 of 
  Form CBT-100, CBT-100S, or BFC-1 .................................................................................................                        12.
Note: There is no carryover provision for this tax credit.

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
 13.  Enter the group tax liability from Schedule A, Part III, line 5, column (a) of CBT-100U ......................                              13.
 14.  Other tax credits used by combined group on current year’s return (see instructions):
 (a)                      
 (b)                      
 (c)                     
 (d)                                                                     ......................................Total                              14.
 15.  Subtract line 14 from line 13. If zero or less, enter zero .....................................................................            15.
 16.  Allowable credit for the current tax period. Enter the lesser of line 8 or line 15. If sharing, also 
 enter in the member’s column of Part I, Schedule A-3 of the CBT-100U ...........................................                                 16.
If SHARING credit, complete line 17.
Note: There is no carryover provision for this tax credit.
Section B – Combined Return Filers NOT Sharing Credit
 17.  a)  Enter combined group tax liability from line 13 ............................ 17a.
   b)  Divide line 17a by the combined group allocation factor from 
       Schedule J, line 9 ........................................................................ 17b.
   c)  Member’s share of combined group tax liability – Multiply line 17b by member’s allocation factor 
       from Schedule J, line 9 .................................................................................................................. 17c.
 18.  Other tax credits used by taxpayer on current year’s return (see instructions):
 (a)                     
 (b)                     
 (c)                     
 (d)                                                                     .......................................Total                             18.
 19.  Subtract line 18 from line 17c. If zero or less, enter zero ...................................................................             19.
 20.  Allowable credit for the current tax period. Enter the lesser of line 16 or line 19 here and in the 
 member’s column of Part I, Schedule A-3 of the CBT-100U ..............................................................                           20.
Note: There is no carryover provision for this tax credit.

                                                     Instructions for Form 325 
                                              Public Infrastructure Tax Credit
Purpose of this Form
This form must be completed by any taxpayer that claims a tax credit as provided for in N.J.S.A. 34:1B-251. The credit is for the develop-
ment of public infrastructure by the applicant, which is then given to a municipality provided the statutory criteria are met. The credit is used 
to offset a taxpayer’s liability for the Realty Transfer Fees and Corporation Business Tax.

If the credit exceeds the amount of tax liability otherwise due from a business that pays tax otherwise due, the taxpayer may apply with the 
Executive Director of the Economic Development Authority for a tax credit transfer certificate.

If the taxpayer claims this credit on Form CBT-100, CBT-100U, CBT-100S, or BFC-1, a completed Form 325 must be included with the 
return to validate the claim.

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.

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 IV, 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 com-
bined 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 IV, 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 – Qualifications
To be eligible for the tax credit, the answer to question 1 and either question 3 or 4 must be “YES.” If the answer to question 1 or both 3 and 
4 is “NO,” the taxpayer is not entitled to the Public Infrastructure Tax Credit.

If the taxpayer received a paper tax credit certificate, the original certificate and a copy of the completed Form 325 must be submitted 
by mail to the New Jersey Division of Taxation, CBT Refunds/Tax Credits, PO Box 259, Trenton, NJ 08695-0259. Failure to submit this 
documentation by mail will result in the delay and/or denial of the tax credit claimed.

Part II – Calculation of Available Credit
Follow the instructions on lines 5 through 8 to calculate the total Public Infrastructure Tax Credit.

Part III – Calculation of the Residential Economic Redevelopment and Growth Tax Credit (for CBT-100, 
CBT-100S, and BFC-1 Filers only)
For CBT-100, CBT-100S, and BFC-1 filers, the allowable Public Infrastructure Tax Credit is calculated in Part III. Combined return filers do 
not complete Part III, and must complete Part IV instead. 

Line 10 – Taxpayers claiming multiple credits must list any credits already applied to the group tax liability to ensure accuracy of the 
calculation for maximum credit allowable.

Part IV – Calculation of the Allowable Credit Amount for Combined Return Filers
For CBT-100U filers, the total and allowable Public Infrastructure 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 member does not exceed the amount that would otherwise be allowed against 
the group tax liability..

Line 14 – 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 is also limited to the amount that would other-
wise be allowed against the group tax liability if the member had been sharing the credit.

Line 18 – 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.