N.J. Admin. Code § 18:34-1.5
Current through Register Vol. 56, No. 21, November 4, 2024
(a) A taxpayer must include with each application a one-time, non-refundable application fee to offset the Division's costs for processing the application and performing any required due diligence. The amount of the fee shall be based on the value of the eligible program tax credit to be purchased as follows: 1. For a tax credit certificate up to $ 500,000, a $ 1,000 application fee;2. For a tax credit certificate over $ 500,000, and up to $ 1,000,000, a $ 2,500 application fee; and3. For a tax credit certificate over $ 1,000,000, a $ 5,000 application fee.(b) In addition to the fees set forth at (a) above, a taxpayer shall pay the Director a non-refundable fee of $ 1,000 for each request for any administrative change, amendment, addition, or modification to the application. If the Director deems the change, addition, amendment, or modification to be major, defined as requiring a comprehensive duplicate review of an application, the Director may either reject the application or impose a non-refundable fee of $ 2,500.(c) In addition to the fees set forth at (a) above, if a taxpayer's application is accepted, and the Division approves the purchase of the eligible program tax credit, a taxpayer shall be responsible for a non-refundable fee of $ 2,500, which shall be deducted from any amount issued by the Division for any tax credit purchased by the Division.N.J. Admin. Code § 18:34-1.5
Adopted by 54 N.J.R. 1641(b), effective 8/15/2022