La. Admin. Code tit. 13 § I-1705
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-1705 - How to ApplyA. An "Advance Notification" of intent to file for Industry Assistance shall be filed by the company at least 90 days prior to filing an application. An advance notification fee of $100 shall be submitted with the prescribed advance notification form.B. Application to the Board of Commerce and Industry for the Industry Assistance Program must be filed with the Office of Commerce and Industry, Box 94185, Baton Rouge, LA 70804-9185 on the form prescribed, along with the required additional information.C.1. An application fee shall be submitted with the application based on the following range of taxes estimated to be exempted. Fee Amount | Range of Taxes to be Exempted |
$200 | $1 to $15,000 |
$300 | $15,001 to $50,000 |
$400 | $50,001 to $150,000 |
$500 | over $150,000 |
2. LED reserves the right to return the advance notification, application, or affidavit of final cost to the applicant if the estimated exemption or the fee submitted is incorrect. The document may be resubmitted with the correct fee. The document will not be considered officially received and accepted until the appropriate fee is submitted. Processing fees, for advance notifications, applications, or affidavits of final cost which have been accepted, will not be refundable.D. Application must be accompanied by five years of comprehensive financial statements, prepared in accordance with generally accepted accounting principles; and, which contains relevant information that will support the application justification. The justification should refer to qualitative as well as quantitative information contained in the financial statements which can materially demonstrate the need for the program benefits, and the resulting cost/impact benefits to the state on the basis of sound business plans and objectives. Qualitative information for the previous five year period should provide explanation about: economic resources, past and projected capital investment in the facilities, past and projected employment levels in the facilities and the wages, salaries and employee benefits paid to employees and projected into the future, the sources of prospective cash inflows: obligations to transfer economic resources to others, the causes of prospective cash outflows; and earnings, the financial results of operations and other events and conditions that affect the enterprise, and comparables for the applicant's similar facilities and operations in other states.La. Admin. Code tit. 13, § I-1705
Promulgated by the Department of Commerce, Office of Commerce and Industry, Finance Division, LR 11:944 (October 1985), amended by the Department of Commerce, Office of Commerce and Industry, LR 12:663 (October 1986), amended by the Department of Economic Development, Office of Business Development Services, LR 37:3497 (December 2011).AUTHORITY NOTE: Promulgated in accordance with R.S. 47:4301-4306.