Get Form 314

This guide provides a comprehensive overview of how to accurately complete the Form 314 for the Remediation Tax Credit. Whether you are new to document management or have previous experience, following these instructions will help ensure your form is filled out correctly and efficiently.

Follow the steps to complete the Form 314 online.

1. Press the ‘Get Form’ button to access the form and open it in your editor.
2. Begin with Part I, Taxpayer Qualifications. Answer the questions regarding certifications and site qualifications. If any answer is 'NO', do not proceed further, as the taxpayer does not qualify for the remediation tax credit.
3. In Part II, Calculation of the Remediation Tax Credit, enter the eligible remediation costs certified by the Department of Environmental Protection in line 6. Be sure to attach the necessary application copy.
4. Continue in Part II by entering the amount of property tax exemption received in line 7 and in line 8, the total in lieu tax payments made or other tax incentives received.
5. In Part III, calculation of available remediation tax credit, enter the total from Part II, line 10, in line 11. Include the aggregate amounts if there are multiple remediation sites.
6. Proceed to Part IV to calculate the allowable remediation tax credit. Report the tax liability from the appropriate tax documentation in line 14, and calculate based on the guidelines provided.
7. Finally, in Part V, complete the carryover schedule if necessary. Enter the tax credit calculated for each applicable year and ensure the total reported reflects any carryover amounts appropriately.
8. Once all parts are filled, review your entries for accuracy. Then, you can save your changes, download, print, or share the completed form as needed.

Complete your Form 314 online today to take advantage of the Remediation Tax Credit.