La. Admin. Code tit. 13 § I-3513

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

Section I-3513 - Certification of Tax Credits

A. Beginning July 31, 2011, employers seeking final certification of tax credits must submit to the department:

1. an audit of qualified expenditures incurred by the employer for modernization, certified by an independent certified public accountant;

a. qualified expenditures that could improve efficiency may include but not be limited to: new automation equipment, computer-driven instrumentation upgrades, NOX or VOC air emission reduction equipment;

b. investment in new equipment for a new production unit making a new or similar product may be a qualified expenditure, if an employer is competing for a new production line as part of a consolidation through competitive capital budget within family of plants either domestically or internationally;

2. evidence of continued business operation; and

3. any other information as reasonably requested by the department.

B. The department shall review requests for certification of tax credits, and upon verification of expenditures, and consultation with the Executive Director of LWC and the Secretary of LDR, shall issue a tax credit certification letter granting tax credits to an employer.

C. The final certification letter shall contain the employer's name, address and tax identification number and be accepted by LDR as proof of the credit.

D. The department shall maintain a list of the tax credit certificates issued.

La. Admin. Code tit. 13, § I-3513

Promulgated by the Department of Economic Development, Office of the Secretary, Office of Business Development and the Louisiana Economic Development Corporation, LR 36:476 (March 2010), amended LR 37:514 (February 2011).

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:104, 36:108, and 51:2332 et seq.