New Jersey HMO Assistance Fund Tax Credit (OBSOLETE)

HMO Assistance Fund Tax Credit (OBSOLETE)
Form 310 - HMO Assistance Fund Tax Credit
FORM

310

NEW JERSEY CORPORATION BUSINESS TAX

2018
(07-18, R-10)

HMO ASSISTANCE FUND TAX

Name as Shown on Return

PART I

Federal ID Number

NJ Corporation Number

READ THE INSTRUCTIONS ON THE REVERSE SIDE BEFORE COMPLETING THIS FORM.

QUALIFYING ASSESSMENTS

Enter the amount of each qualifying assessment and the date each assessment was paid.
Assessment Amount/Date

Assessment Amount/Date

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

___________________________________________________________________________________________________________

PART II

CALCULATION OF THE ALLOWABLE CREDIT AMOUNT

1. Enter the total qualifying assessment amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1.

3. Maximum annual credit amount - enter 20% of line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3.

2. Total available credit amount - enter 50% of line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Enter tax liability from page 1, line 9 of CBT-100 or BFC-1, or line 4 of CBT-100S . . . . . . . . . . . . . . . .
5. Enter the required minimum tax liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6. Subtract line 5 from line 4 - if less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Enter 20% of line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8

Enter the lesser of line 3 or line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. Tax Credits taken on the current year’s return:
a)______________________________

______________________________

c)______________________________

______________________________

b)______________________________
d)______________________________

2.
4.
5.
6.
7.
8.

______________________________
______________________________

Total

9.

10. Subtract line 9 from line 8. If the result is less than zero, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Allowable credit for the current tax period - Enter the lesser of line 7 or line 10 here and on

Schedule A-3 of the CBT-100, the CBT-100S or the BFC-1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11.

Form 310-A (7-18, R-10)

INSTRUCTIONS FOR FORM 310

HMO ASSISTANCE FUND TAX CREDIT
The HMO Assistance Fund Tax Credit is available to health maintenance organizations that paid assessments to the New
Jersey Health Maintenance Organization Assistance Association in accordance with Chapter 12, P.L. 2000 which was
enacted on April 6, 2000. The total available credit is equal to 50% of the paid assessments for which a certificate of
contribution was issued by the association. One-fifth of the credit amount can be taken in five consecutive privilege
periods and is limited to 20% of the taxpayer’s Corporation Business Tax liability. There is no carryover provision for this
tax credit, however, taxpayers that cease doing business in New Jersey before the end of the five year period may claim
any credit amounts not yet applied against its tax liability on its final return.
SPECIFIC INSTRUCTIONS FOR FORM 310

PART I

QUALIFYING ASSESSMENTS

PART II

CALCULATION OF ALLOWABLE CREDIT AMOUNT

Qualifying assessments are those for which the taxpayer received a certificate of contribution and those that are
permitted to be applied against the current return period’s tax liability. The period covered by the tax return on which
the credit is claimed must begin on or after the third calendar year commencing after the assessment was paid. The
credit can be taken for five consecutive privilege periods. Only list assessments that meet these criteria along with
the related payment dates.

a) The total and allowable HMO Assistance Fund Tax Credit is calculated in Part II. The amount of this credit
cannot exceed 20% of the Corporation Business Tax liability otherwise due for the period covered by the return
and shall not reduce the tax liability below the statutory minimum. Taxpayers claiming multiple credits must list
any credits already applied to the tax liability to ensure accuracy of the calculation for maximum credit allowable.
b) The minimum tax is assessed based on the New Jersey Gross Receipts as follows:
New Jersey Gross Receipts

Less than $100,000
$100,000 or more but less than $250,000
$250,000 or more but less than $500,000
$500,000 or more but less than $1,000,000
$1,000,000 or more

CBT-100

$500.00
$750.00
$1,000.00
$1,500.00
$2,000.00

CBT-100S

$375.00
$562.00
$750.00
$1,125.00
$1,500.00

provided however that for a taxpayer that is a member of an affiliated or controlled group which has a total payroll
of $5,000,000 or more for the return period, the minimum tax shall be $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.
c) There is no carryover provision for this tax credit. Any credit amount remaining after the five consecutive
privilege periods pass shall be forfeited.
REFUNDS ISSUED BY THE NJ HMO ASSISTANCE ASSOCIATION

Any refunds issued to the taxpayer by the association are deemed to be assessment amounts for which an HMO
Assistance Fund tax credit was allowed. If the taxpayer claimed an HMO Assistance Fund tax credit on a New Jersey
Corporation Business Tax Return, then the taxpayer shall pay 50% of the refund amount to the State of New Jersey
up to the amount of tax credit claimed.