Hi to all. This the first time I am going to file for a new client from New Jersey. I was googling and here to find out how to calculate the renter credit. Which I found out that if a renter paid 365 days in New Jersey for monthly payment $1450, client can take a credit for 12* $1450=$17400 so $17400*18%=$3132 

This credit reduces tax liability. If I am right, let me know. This is a huge credit, can not believe it. I do not have any objection about that why this is a lot, just correct me if I am wrong.

The courtesy of a reply would be appreciated.