FORM 325                                   New Jersey Corporation Business Tax
 2023                                              Public Infrastructure 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 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 tax credit certificate issued by the New Jersey Division of Taxation? ..........                                                YES  NO
   Check the box to indicate a copy of the certificate has been submitted to the Division of Taxation .....
NOTE: If the answer to question 1 or 3 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
  4.  Amount of the tax credit awarded by the Economic Development Authority .....................................                                          4.
  5.  Total Realty Transfer Fees paid by the applicant for the land and real property on which the public 
     infrastructure project is built ...............................................................................................................        5.
  6.  Amount of the tax credit available to offset the total Realty Transfer Fees paid by the applicant for 
     the project .......................................................................................................................................... 6.
  7.  Amount of the tax credit available to offset the applicant’s Corporation Business Tax liability ..........                                            7.
Part III     Calculation of the Allowable Credit Amount
             (Combined return filers DO NOT complete Part III. Continue with Part IV.)
  8.  Enter tax liability from page 1, line 2a of CBT-100 or CBT-100S .......................................................                               8.
  9.  Other tax credits used by taxpayer on current year’s return (see instructions):
     (a)                              
     (b)                              
     (c)                              
     (d)                                                                  ..................................... Total                                       9.
  10. Subtract line 9 from line 8. If zero or less, enter zero . .......................................................................                    10.
  11.  Allowable credit amount. Enter the lesser of line 7 or line 10 here and on Schedule A-3, Part I of 
  Form CBT-100 or CBT-100S ..............................................................................................................                   11.
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
 12.  Enter the group tax liability from Schedule A, Section II, Part III, line 4a, column (c) of CBT-100U ...                                    12.
 13.  Other tax credits used by combined group on current year’s return (see instructions):
 (a)                      
 (b)                      
 (c)                     
 (d)                                                                     ......................................Total                              13.
 14.  Subtract line 13 from line 12. If zero or less, enter zero .....................................................................            14.
 15.  Allowable credit for the current tax period. Enter the lesser of line 7 or line 14. If sharing, also 
 enter in the member’s column of Schedule A-3, Part I of the CBT-100U ...........................................                                 15.
If NOT sharing credit, complete Section B.
Note: There is no carryover provision for this tax credit.
Section B – Combined Return Filers NOT Sharing Credit
 16.  a)  Enter combined group tax liability from line 12 ............................ 16a.
   b)  Divide line 16a by the combined group allocation factor from 
       Schedule J, line 9 ........................................................................ 16b.
   c)  Member’s share of combined group tax liability – Multiply line 16b by member’s allocation factor 
       from Schedule J, line 9 .................................................................................................................. 16c.
 17.  Other tax credits used by taxpayer on current year’s return (see instructions):
 (a)                     
 (b)                     
 (c)                     
 (d)                                                                     .......................................Total                             17.
 18.  Subtract line 17 from line 16c. If zero or less, enter zero ...................................................................             18.
 19.  Allowable credit for the current tax period. Enter the lesser of line 15 or line 18 here and in the 
 member’s column of Schedule A-3, Part I of the CBT-100U ..............................................................                           19.
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, or CBT-100S, 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 or CBT-100S, 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 questions 1 and 3 must be “YES.” If the answer to question 1 or 3 is “NO,” the taxpayer is not 
entitled to the Public Infrastructure Tax Credit.

A copy of the tax credit 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 4 through 7 to calculate the total Public Infrastructure Tax Credit.

Part III – Calculation of the Residential Economic Redevelopment and Growth Tax Credit (for CBT-100 and 
CBT-100S Filers only)
For CBT-100 and CBT-100S, 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 9 – 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 13 – 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 17 – 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.