The standard job tax credit must be claimed on the return for the tax year in which the qualified business enterprise first satisfies the capital investment and job creation requirements. Any unused credit may be carried forward to the next tax period for up to 15 years.
The additional annual job tax credit may be claimed when all the requirement for the credit have been met or may be deferred; provided, however that the qualified business enterprise must begin to apply the credit no later than the first tax year following the end of the investment period.
Reference: Tenn. Code Ann. §§ 67-4-2109(b)(1)(C); 67-4-2109(b)(2)(D).