La. Admin. Code tit. 13 § I-2915
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-2915 - Transfer of Certain Research and Development CreditsA. For tax years 2018 and later, credits based upon participation in either the Small Business Technology Transfer Program or the Small Business Innovation Research Grant not previously claimed by a taxpayer shall be transferable in accordance with the following provisions.1. A single transfer or sale may involve one or more transferees.2. Notice of the credit transfer shall be submitted by the applicant to the Louisiana Department of Revenue in writing within 10 business days of the transfer or sale of credits.a. No transfer or sale of credits shall be effective until recorded in the tax credit registry in accordance with R.S. 47:1524.b. The notification shall include the transferor's tax credit balance prior to transfer, a copy of any tax credit certification letter issued by the Department of Economic Development, the transferor's remaining tax credit balance after transfer, all tax identification numbers for both transferor and transferee, the date of the transfer, the amount transferred, a copy of the credit certificate, the price paid by the transferee to the transferor, and any other information required by the Department of Revenue.c. The notification submitted to the Department of Revenue shall include a transfer processing fee of two hundred dollars per transferee.d. Failure to comply with this Paragraph shall result in the disallowance of the tax credit until the taxpayers are in full compliance.3. The transfer or sale of credits does not extend the time in which the credits can be used. The carryforward period for a credit that is transferred or sold begins on the date on which the credit was earned.La. Admin. Code tit. 13, § I-2915
Promulgated by the Department of Economic Development, Office of Business Development, LR 40:52 (January 2014), amended LR 40:1527 (August 2014), Repealed by the Office of the Secretary, LR 4242 (1/1/2016), Promulgated by the Department of Economic Development, Office of Business Development, LR 45221 (2/1/2019).AUTHORITY NOTE: Promulgated in accordance with R.S. 47:6015.