334: Innovation Evergreen Fund Tax Credit (2025)

New Jersey · NJ Division of Taxation · Used for tax years 2025

New Jersey Form 334 is used to claim the Innovation Evergreen Fund Tax Credit against Corporation Business Tax. It calculates the available credit, the amount allowed for the current tax period, and any credit carried forward, with separate calculations for combined return filers

Who files this form

Use Form 334 to claim the New Jersey Innovation Evergreen Fund Tax Credit or a credit carryforward against Corporation Business Tax. Taxpayers that purchased the credit through the Economic Development Authority tax benefit transfer program may also use this form, subject to the applicable transfer rules and limits.

To qualify, you must answer “YES” to both questions in Part I:

  • Have you been approved by the New Jersey Economic Development Authority to receive the credit?
  • Have you received a tax credit certificate or credit transfer certificate issued by the New Jersey Division of Taxation?

Include the appropriate credit form in the year the credit was earned, even if you are not claiming the credit on that year's return.

For a combined return, the member that earned the credit must complete Form 334.

What you'll need

Have these documents and figures ready:

  • Your tax credit certificate or credit transfer certificate, signed by all parties, showing the approved credit for the current privilege period or tax year.
  • Your CBT-100, CBT-100S, or CBT-100U return and the tax liability figures requested on Form 334.
  • Any Innovation Evergreen Fund Tax Credit carried forward from the prior period.
  • Details of other tax credits already applied to your current return.
  • For CBT-100 and CBT-100S filers, the gross receipts and any applicable group payroll information needed to determine the minimum tax. S corporations filing with QSSSes use the aggregate minimum tax from Schedule Q, Part I, line 1.
  • For combined-return members not sharing the credit, the group and member allocation factors from Schedule J, line 9.

You must also mail a copy of the signed certificate and a copy of the completed Form 334 to the Division of Taxation.

How to file

  1. Complete Part I. If either qualification answer is “NO,” stop. You are not eligible for this credit.
  2. Complete Part II using the approved credit for the current period and any prior-period carryforward.
  3. If you file CBT-100 or CBT-100S, complete Part III. Enter the allowable credit from line 11 on Schedule A-3, Part I of your return.
  4. If you file CBT-100U, check the combined-return filers box and complete Part IV, Section A instead of Part III. If sharing the credit, enter line 18 in the member's column of Schedule A-3, Part I and complete line 19. If not sharing, fill in the non-sharing oval, skip line 19, and complete Section B. Enter line 25 in the member's column of Schedule A-3, Part I.
  5. Include the completed Form 334 with your CBT-100, CBT-100S, or CBT-100U return.

Separately, mail a copy of the completed Form 334 and a copy of the tax credit certificate or credit transfer certificate, signed by all parties, to:

New Jersey Division of Taxation

Grant and Credit Review Unit

PO Box 272

Trenton, NJ 08695-0272

Check the box in Part I to indicate that a copy of the certificate has been submitted.

Common mistakes

  • Continuing after a “NO” answer in Part I. Both qualification answers must be “YES.”
  • Skipping the separate mailing. Failure to mail the signed certificate copy and completed Form 334 copy can delay or result in denial of the credit.
  • Leaving out the credit form because no credit is being claimed. The appropriate credit form must be included in the year the credit was earned.
  • Using the wrong calculation section. Combined return filers must use Part IV, not Part III. Non-sharing members must complete both Sections A and B and fill in the non-sharing oval.
  • Omitting other credits already used. List credits already applied to the relevant taxpayer, group, or member tax liability on lines 9, 16, or 23, as applicable.
  • Reducing tax below the required minimum or applying the credit to the Corporate Transit Fee. Neither is allowed.

Questions people ask

Can unused credit be carried forward?

Yes. Excess credit can be carried forward for up to seven privilege periods.

Can this credit reduce my tax below the minimum tax?

No. The credit cannot reduce tax liability below the statutory minimum tax. It also cannot be used against the Corporate Transit Fee.

Must a combined-return member share its credit?

No. A member may choose not to share. It must fill in the non-sharing oval and complete Part IV, Sections A and B. Its credit remains subject to both the member and group limits described in the form.

Can I claim a credit I purchased?

Yes. Taxpayers that purchased the credit through the Economic Development Authority tax benefit transfer program may claim it using Form 334. They must follow the rules and limitations in the applicable credit transfer statute.

Official sources

All versions of 334