La. Admin. Code tit. 13 § I-2705

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

Section I-2705 - Determination of Eligibility to Earn Tax Credits

A. Prior to earning any credits pursuant to the Technology Commercialization Credit and Jobs Program, a taxpayer must apply for and obtain an eligibility certification from DED that the taxpayer is eligible to earn such credits.

B. The application for eligibility certification must be submitted prior to the end of the taxpayer's tax year for which the taxpayer first seeks to earn a technology commercialization credit or technology jobs credit.

C. A taxpayer shall apply for an eligibility certification by submitting an application on a form specified by the DED and provide at a minimum, the following information:

1. for a Technology Commercialization Credit:

a. a description of the technology to be commercialized:

b. a description of how and from whom (what university) the technology was acquired including the terms of the acquisition;

c. if the technology is not owned by a university, in what manner research was sponsored by the university or what significant development or enhancement to the technology occurred at the university;

d. An agreement with a Louisiana regionally accredited college, technical school, university, or research company to commercialize or research a technology;

e. a description of the taxpayer's Louisiana facilities or proposed Louisiana facilities, and the taxpayer's proposed investment in machinery and equipment.

f. any other information requested by DED or LDR;

2. for a Technology Jobs Credit:

a. a description of the type of entity the taxpayer is, that is, for profit corporation, LLC, non-profit, governmental entity etc.;

b. a description of the type of research the taxpayer does,

c. a listing of proposed new direct jobs that the taxpayer expects to create along with the estimated salary;

d. a description of the taxpayer's health benefits plan that will be offered to employees.

D. DED shall review the application with an emphasis on the eligibility requirements stated in §2707 and, if DED determines that the taxpayer is eligible under the provisions of the Technology Commercialization Credit and Jobs Program to earn technology commercialization credits or technology jobs credits, DED shall issue an eligibility certificate. DED shall maintain a record of all eligibility certificates issued and shall provide a copy of each certificate to the Louisiana Department of Revenue.

E. An eligibility certification shall be valid for a period of five tax years of the taxpayer.

La. Admin. Code tit. 13, § I-2705

Promulgated by the Department of Economic Development, Office of Business Development Services, Business Resources Division, LR 30:979 (May 2004), amended LR 36:308 (February 2010).

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:2353.