La. Admin. Code tit. 13 § I-1515

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-1515 - Tax Incentives Available under Contract

A. Tax exemptions may be granted for any of the following:

1. state corporate franchise tax;

2. state corporate income tax;

3. any other tax imposed directly by the state on the applicant.

B. The contract will not authorize the applicant to make tax-free purchases from vendors. Rebates of taxes paid may be granted for any of the following:

1. sales and use taxes imposed by the state or local governmental subdivisions on:

a. machinery and equipment used by the applicant;

b. materials and building supplies used in the repair, reconstruction, modification, or construction of a plant or facility;

c. a tax credit may be granted against the tax liability due to the state for the corporate income tax and the corporate franchise tax, provided however, that such credit shall not exceed the cost of purchase by the concern of machinery and scientific equipment used on the premises of the concern located in the park area;

d. materials and supplies necessary for or used in the manufacturing or assembly of the applicant's product, or delivery of services but not on goods or materials that become an integral part of the product or process;

e. any other goods and services used or consumed by the applicant's facility in the park.

C. State sales and use tax rebates shall be filed according to official Department of Revenue procedures.

D. Local sales and use tax rebates shall be filed in the manner prescribed by the local governmental subdivision taxing authority.

La. Admin. Code tit. 13, § I-1515

Promulgated by the Department of Economic Development, Office of Commerce and Industry, Division of Business Incentives LR 26:633 (April 2000).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3389.