La. Admin. Code tit. 13 § I-4109

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

Section I-4109 - Annual Certification of Eligibility

A. The qualified business must submit certification (signed by a key employee of the business) that it continues to meet all eligibility requirements of the program as well as all performance obligations of the contract by September 1 of each year unless the contract designates another reporting deadline. A company's failure to submit the annual certification of eligibility by the deadline provided for in this section shall result in the forfeiture of benefits for the previous tax year and the secretary, in his discretion, may terminate the contract. LED may require an audit of any annual certification at the expense of the qualified business.

B. The qualified business may not file its Louisiana corporate income and franchise tax return utilizing the single sales factor for apportionment purposes until the annual certification of eligibility has been submitted to and verified by LED. Upon verification, LED shall notify the Louisiana Department of Revenue that the business remains eligible to use the single sales factor for apportionment purposes on its Louisiana corporate income and franchise tax return.

C. If a business fails to maintain the eligibility requirements for participation in the program or fails to meet the performance objectives in the contract, the department may suspend or terminate the contract. Upon suspension or termination of the contract, department will notify the Louisiana Department of Revenue that the business is not qualified to utilize the single sales factor for apportionment purposes for the tax year or years in question.

La. Admin. Code tit. 13, § I-4109

Promulgated by the Department of Economic Development, Office of Business Development, LR 38:2739 (November 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:4401.