Fillable Form Gjc - Application For Green Jobs Creation Tax Credit (Page 2 of 3) in pdf

Instructions

Application for Green Jobs Creation Tax Credit

General Information

When to Submit Application

For taxable years beginning on and after January 1, 2010, but

Form GJC and any supporting documentation must be

before January 1, 2018, a $500 income tax credit is allowed

completed and mailed at least 90 days prior to the due date

for the creation of “green” jobs paying an annual salary in

of your return. You must apply each year you are eligible

excess of $50,000. Each taxpayer is allowed a credit for up

to earn credit for each job that is continuously filled (not to

to 350 new green jobs. In order to qualify for the tax credits,

exceed 5 years).

the taxpayer must have created the green job and filled it

Where to Submit Application

during the taxable year in which the credit is claimed. The

Submit Form GJC and attachments to the Department of

credit is allowed for the taxable year in which the job has been

Taxation, ATTN: Tax Credit Unit, P.O. Box 715, Richmond,

filled for at least one year and for each of the 4 succeeding

VA 23218-0715 or fax it to 804-774-3902.

taxable years provided that the job is continuously filled during

What Does the Taxpayer Need to Do

the respective taxable year. Any unused tax credits may be

carried over for 5 taxable years.

Upon receiving notification of the allowable credit amount,

taxpayers may claim the allowable credit amount on the

In order to qualify for the tax credit, the taxpayer must

applicable Virginia income tax return and compute any

demonstrate that the green job was created by the taxpayer

carryover credit amount.

and the job was filled for the taxable year in which the credit

is claimed.

IMPORTANT

"Green job" means employment in industries relating to

All business taxpayers should be registered with the

the field of renewable, alternative energies, including the

Department before completing Form GJC. If you are not

manufacture and operation of products used to generate

registered, complete Form R-1.

electricity and other forms of energy from alternative sources

Taxpayers who do not receive notification of allowable credit

that include hydrogen and fuel cell technology, landfill

amounts before their Virginia income tax return due date

gas, geothermal heating systems, solar heating systems,

may file during the extension period or file their regular return

hydropower systems, wind systems, and biomass and biofuel

without the credit and then file an amended tax return after

systems. The Secretary of Commerce and Trade is required

receipt of notification of the allowable credit amount to claim

to develop a detailed definition and list of jobs that qualify for

the tax credit.

the credit. This information is available online at

Pass-Through Entities

commerce.virginia.qov/lnitiatives/GreenJobsTaxCredit.cfm.

Each pass-through entity must file Form PTE with the

"Job" means employment of an indefinite duration of an

Department within 30 days after the credit is granted. This

individual whose primary work activity is related directly to

information should be sent to: Department of Taxation, Attn:

the field of renewable, alternative energies and for which the

Tax Credit Unit, P.O. Box 715, Richmond, VA 23218-0715

standard fringe benefits are paid by the taxpayer, requiring

or you may fax it to 804-786-2800. Please do not do both.

a minimum of either (i) 35 hours of an employee's time per

Credit must be allocated among owners in proportion to each

week for the entire normal year of such taxpayer's operations,

owner’s percentage of ownership or participation in the pass-

which "normal year" must consist of at least 48 weeks, or (ii)

through entity.

1,680 hours per year. Positions created when a job function

is shifted from an existing location in the Commonwealth do

All pass-through entities distributing this credit to their

not qualify as a job.

owners, shareholders, partners or members must give each

a Schedule VK-1, Owner’s Share of Income and Virginia

Any credits granted to a partnership, limited liability company,

Modifications and Credits.

or electing small business corporation (S corporation)

must be allocated to the individual partners, members, or

Where to Get Help

shareholders, respectively, in proportion to their ownership

Write to the Virginia Department of Taxation, ATTN: Tax

or interest in such business entities.

Credit Unit, P.O. Box 715, Richmond, VA 23218-0715 or

If the taxpayer is eligible for the Green Jobs Creation

call 804-786-2992.

Tax Credit and creates green jobs in an enterprise zone,

the taxpayer may also qualify for the benefits under the

Enterprise Zone Grant Program.

What to Attach

Provide a copy of the W-2 for each eligible employee.

Guaranteed payments – provide a copy of the Schedule

K-1 (Form 1065) and a statement indicating if the payments

were for services or the use of capital.

3002010 REV 03/15

Form Gjc - Application For Green Jobs Creation Tax Credit Page 2

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