La. Admin. Code tit. 13 § I-2713

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

Section I-2713 - Recapture of Credits

A. An application for eligibility certification or credit certification shall constitute:

1. a consent by the taxpayer that in the event the taxpayer must repay any technology commercialization credits:

a. the Secretary of the Department of Revenue may recover any such amounts as authorized by R.S. 47:1561.2; and

b. such amounts will be deemed to constitute refundable tax credit; and

2. a written agreement between the taxpayer and the Secretary of the Department of Revenue for the suspension of the running of prescription for any technology commercialization credits claimed by the taxpayer until one year after the end of the fourth tax year of the eligibility certification;

3. a consent by the taxpayer that the Department of Revenue may disclose to DED, any tax information of the taxpayer related to the earning of, or use of technology commercialization credits by the taxpayer or any other information required by DED for the effective administration of this program, provided that such tax information, shall remain confidential in the possession of DED.

La. Admin. Code tit. 13, § I-2713

Promulgated by the Department of Economic Development, Office of Business Development Services, Business Resources Division, LR 30:980 (May 2004), amended LR 36:310 (February 2010).

This section was formerly §2715

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