337: Low Embodied Carbon Concrete Tax Credit (2025)

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

Form 337 is used to claim the Low Embodied Carbon Concrete Tax Credit against New Jersey Corporation Business Tax. It reports the approved credit, prior-year carryforward, credit allowed for the current tax period, and remaining carryforward.

Who files this form

Complete Form 337 if you claim the Low Embodied Carbon Concrete Tax Credit against New Jersey Corporation Business Tax. You must also include the appropriate credit form in the year the credit was earned, even if you are not claiming the credit on your return.

The credit is available to producers of low embodied carbon concrete products or concrete incorporating carbon capture, utilization, and storage technology that either:

  • Is delivered under a State contract, or a contract with a private firm that has contracted with the State, for at least 50 cubic yards of concrete; or
  • Has received an approved environmental product declaration from the New Jersey Department of Environmental Protection.

To qualify, you must have Department of Environmental Protection approval for the credit and a tax credit certificate issued by the New Jersey Division of Taxation.

For a combined return, the member that earned the credit must complete Form 337.

What you'll need

Have these documents and figures available:

  • Your tax credit certificate showing the approved credit for the current tax year or privilege period.
  • Your CBT-100, CBT-100S, or CBT-100U return and the tax liability figures used on Form 337.
  • Any Low Embodied Carbon Concrete Tax Credit carried forward from the prior period.
  • Amounts of other tax credits already applied to the current return.
  • Information needed to determine the required minimum tax, such as New Jersey gross receipts and applicable group payroll information.

Combined return members not sharing their credit also need the group and member allocation factors from Schedule J, line 9. An S corporation filing CBT-100S with its QSSS(es) uses the aggregate minimum tax from Schedule Q, Part I, line 1.

You must include completed Form 337 with your return and separately mail copies of Form 337 and the tax credit certificate to the Division of Taxation.

How to file

  1. Complete Part I. Both qualification answers must be “YES.” Check the certificate-submission box to indicate that a copy has been submitted to the Division of Taxation.
  2. Complete Part II with the approved current-period credit and any prior-period carryforward.
  3. If filing CBT-100 or CBT-100S, complete Part III and enter the allowable credit on Schedule A-3, Part I of your return.
  4. If filing CBT-100U, check the combined return filers box and complete Part IV, Section A instead of Part III. If not sharing the credit, also fill in the nonsharing oval and complete Section B. Enter the allowable credit in the member’s column of Schedule A-3, Part I of CBT-100U.
  5. Include completed Form 337 with your CBT-100, CBT-100S, or CBT-100U return.

Separately mail a copy of the tax credit certificate and a copy of completed Form 337 to:

New Jersey Division of Taxation

Grant and Credit Review Unit

PO Box 272

Trenton, NJ 08695-0272

Common mistakes

  • Continuing after a “NO” answer in Part I. If either qualification answer is “NO,” stop. You are not eligible for the credit.
  • Skipping the separate mailing. Failure to mail copies of the certificate and completed Form 337 can delay or cause denial of the claimed credit.
  • Using the wrong calculation section. Combined return filers must use Part IV, not Part III. All must complete Section A, and members not sharing must also complete Section B.
  • Leaving out other credits already used. List those credits on line 9, 17, or 24, as applicable, so the allowable credit is calculated correctly.
  • Reducing tax below the required minimum or applying the credit to the Corporate Transit Fee. Neither is allowed.
  • Omitting the credit form because no credit is being claimed. The instructions require the appropriate credit form in the year the credit was earned, even if the credit is not claimed on the return.

Questions people ask

When must I first take the credit?

The credit must first be taken in the tax period in which the tax credit certificate is issued.

Can I carry forward unused credit?

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

Must a combined return member share its credit?

No. A member may choose not to share. It must fill in the nonsharing oval and complete both Sections A and B of Part IV.

Can the credit eliminate all of my tax liability?

The credit cannot reduce tax liability below the statutory minimum tax. It also cannot be used against the Corporate Transit Fee.

Official sources

All versions of 337