reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 17 - Industry Assistance Program › Section I-1725 - Economically Disadvantaged Business Set-Aside

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any establishment, and its contractors,
				applying for an exemption or state-sponsored subsidy shall designate and
				set-aside for awarding to economically disadvantaged businesses an amount not
				less than ten percent of the value of the anticipated total procurement of
				goods and services including construction for the exempted project, without
				added expense; provided such economically disadvantaged businesses are
				majority-owned by Louisiana residents, operated by Louisiana residents and are
				competent to deliver the required products and services in a timely manner and
				perform the required work in a timely manner during construction and operation
				of the project.
B. The applicant
				should contact the Division of Community Outreach Services (the "division") for
				assistance in identifying qualified, economically disadvantaged
				businesses.
C. Each affected
				applicant establishment shall submit to the division, at the time of submitting
				an application for industry assistance to the Office of Business Development
				Services, and annually thereafter, its plan for compliance.
D. The Set-Aside Plan for Compliance
1. The set-aside plan for compliance prepared
				by each establishment shall include the following:
a. an affirmation that the establishment is
				committed to compliance with the intent of the economically disadvantaged
				business set-aside statutes and rules;
b. the methods it will use to:
i. encourage economically disadvantaged
				business participation;
ii. keep
				records of economically disadvantaged business participation;
iii. require compliance by its bidders,
				contractors, and subcontractors for their contracts with economically
				disadvantaged businesses;
c. on forms provided by the division, the
				annual anticipated expenditures for construction, machinery and equipment, cost
				of goods used in manufacturing, operating expenditures, and all other
				expenditures;
d. on the same forms,
				those products and services which the establishment believes:
i. cannot be purchased from an economically
				disadvantaged business without added expense, or can only be purchased from an
				out-of-state source, or which must be purchased from a sole-source
				provider;
ii. cannot be delivered
				by an economically disadvantaged business in a timely manner; or
iii. cannot be performed by an economically
				disadvantaged business in a timely manner.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1901 - General

Current through Register Vol. 50, No. 6, June 20, 2024
A. Intent of Law.
				For qualifying manufacturing establishments, headquarters, or warehousing and
				distribution establishments, the Board of Commerce and Industry may enter into
				a contract to equalize the total tax burden in Louisiana to that of a competing
				site located in another state.
B.
				Description of the Program. The Tax Equalization Program is an inducement to
				attract, retain, and encourage the expansion of, manufacturing establishments,
				headquarters, and warehousing and distribution establishments to Louisiana,
				which would not do so in Louisiana due to a higher tax burden. This program is
				designed to eliminate the tax differential through the equalization of the
				overall taxes between a Louisiana site and a competing site in another state.
				The sites under consideration must be valid and viable for the proposed
				operations. The competing site must offer comparative advantages equal to or
				greater than the comparative advantages offered at the Louisiana site. The
				governor must extend a written invitation to the company authorizing the
				company to submit an application for this program.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  47:3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1903 - Louisiana Manufacturers and Suppliers

Current through Register Vol. 50, No. 6, June 20, 2024
A. The Louisiana Department of Economic
				Development ("LED") and the Board of Commerce and Industry ("board") encourages
				applicants and their contractors to give preference and priority to Louisiana
				manufacturers, and, in the absence of Louisiana manufacturers, to Louisiana
				suppliers, contractors, and labor, except where not reasonably possible to do
				so without added expense or substantial inconvenience or sacrifice in
				operational efficiency. In considering applications under this program for
				whole or partial exemptions from taxation as provided by
				Section
				1715 herein, the secretary,
				board, governor and Joint Legislative Budget Committee may take into account:
1. the past and projected future capital
				investment of the applicant in its Louisiana facilities;
2. the applicant's use of machinery,
				supplies, and equipment manufactured in Louisiana, sold or distributed by
				Louisiana residents;
3. the
				business potential for a clustering of industries including the applicant, or
				the applicant as a factor in an existing cluster; and
4. the applicant's creation or continuance of
				new and retained employment of Louisiana residents; and
5. the applicant's use of projected use of
				Louisiana engineers, contractors and labor in the construction, maintenance and
				operation of applicant's facilities.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1905 - Economically Disadvantaged Business Set-Aside

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any establishment, and its contractors,
				applying for an exemption or state-sponsored subsidy shall designate and
				set-aside for awarding to economically disadvantaged businesses an amount not
				less than ten percent of the value of the anticipated total procurement of
				goods and services including construction for the exempted project, without
				added expense; provided such economically disadvantaged businesses are
				majority-owned by Louisiana residents, operated by Louisiana residents and are
				competent to deliver the required products and services in a timely manner and
				perform the required work in a timely manner during construction and operation
				of the project.
B. The applicant
				should contact the Division of Community Outreach Services (the "division") for
				assistance in identifying qualified, economically disadvantaged
				businesses.
C. Each affected
				manufacturing establishment shall submit to the division, at the time of
				submitting an application for tax equalization to the Office of Business
				Development Services, and annually thereafter, its plan for
				compliance.
D. The Set-Aside Plan
				for Compliance
1. The set-aside plan for
				compliance prepared by each establishment shall include the following:
a. an affirmation that the establishment is
				committed to compliance with the intent of the economically disadvantaged
				business set-aside statutes and rules;
b. the methods it will use to:
i. encourage economically disadvantaged
				business participation;
ii. keep
				records of economically disadvantaged business participation;
iii. require compliance by its bidders,
				contractors, and subcontractors for their contracts with economically
				disadvantaged businesses;
c. on forms provided by the division, the
				annual anticipated expenditures for construction, machinery and equipment, cost
				of goods used in manufacturing, operating expenditures, and all other
				expenditures;
d. on the same forms,
				those products and services which the establishment believes:
i. cannot be purchased from an economically
				disadvantaged business without added expense, or can only be purchased from an
				out-of-state source, or which must be purchased from a sole-source
				provider;
ii. cannot be delivered
				by an economically disadvantaged business in a timely manner; or
iii. cannot be performed by an economically
				disadvantaged- business in a timely manner.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1907 - Eligibility for Submission of Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. An applicant for tax equalization must be
				either a manufacturing establishment, a headquarters, or a warehousing and
				distribution establishment.
B. The
				sites under consideration must be valid and viable for the proposed
				operations.
C. An applicant must
				either be located in another state or be located in Louisiana and contemplating
				locating in another state which has equivalent or comparable advantages as
				exist at the particular area in Louisiana at which the applicant is or seeks to
				be located.
D. The state in which
				the establishment is located or is contemplating locating must have a state,
				parish (county) and local taxing structure which offers a greater tax advantage
				to such establishment than does the taxing structure of Louisiana.
E. The secretary of the Department of
				Economic Development must have made a recommendation to the governor to extend
				an invitation.
F. An invitation
				from the governor to apply must have been received by the company.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  47:3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1909 - Application Fees

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
				advance notification fee of $100 shall be submitted with the prescribed advance
				notification form.
B. An
				application fee shall be submitted with the application, which fee is 0.2
				percent of the estimated total amount of taxes to be exempted. In no case shall
				an application fee be less than $200 and in no case shall a fee exceed $5000
				per project. A fee of $50 shall be charged for the renewal of a
				contract.
C. The Office of Business
				Development Services reserves the right to return the advance notification,
				application, or affidavit of final cost to the applicant if the estimated
				exemption or the fee submitted is incorrect. The document may be resubmitted
				with the correct fee. The document will not be considered officially received
				and accepted until the appropriate fee is submitted. Processing fees, for
				advance notifications, applications, or affidavits of final cost which have
				been accepted, will not be refundable.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  47:3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1911 - Application Procedure

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Prior to the formal announcement, an "advance notification" of intent to file
				for Tax Equalization must be filed with the Office of Business Development
				Services. The company will submit, on forms provided by the Office of Business
				Development Services, a comparison of taxes for all sites under
				consideration.
B. The secretary of
				the Department of Economic Development, after review of the advance
				notification shall recommend to the governor that a written invitation to
				submit an application be extended to the company. The written invitation of the
				governor must be received before an application is submitted.
C. At the invitation of the governor an
				application, on forms furnished by the Office of Business Development Services,
				may be filed with the Office of Business Development Services. Upon staff
				review, the analysis and recommendation of the staff is presented to the
				Louisiana Board of Commerce and Industry.
D. The Board of Commerce and Industry shall
				review any recommendations for exemptions made by the Office of Business
				Development Services. All Commerce and Industry Board action on applications
				will be made at regularly scheduled meetings. If the Board of Commerce and
				Industry concurs in the recommendation it shall forward the recommendation
				together with all supporting documents to the Louisiana Department of
				Revenue.
E. The Department of
				Revenue shall within 10 days after receipt of the notice file in writing with
				the Board of Commerce and Industry any objections it has to granting the
				exemption.
F. If no objection is
				made, the Board of Commerce and Industry shall send the recommendation to the
				governor with a finding that no objection was filed by the Department of
				Revenue. If any such objection is made, the Board of Commerce and Industry
				shall hold a contradictory hearing to determine whether such exemption should
				be granted and the Board of Commerce and Industry shall act as arbitrator at
				such hearing. The Board of Commerce and Industry shall make its recommendations
				in writing to the governor for a final determination.
G. The Board of Commerce and Industry, with
				the approval of the governor, may enter into a contract of tax equalization
				with the new manufacturing establishment.
H. All contracts for tax equalization shall
				contain goals for new or retained employment, investment, and growth.
I. All information submitted will be held in
				confidence to the fullest extent permitted by the public records law.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  47:3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1913 - Application Contents

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				application shall be submitted on forms provided by the Office of Business
				Development Services. A 10-year pro-forma balance sheet and income statement
				shall be provided by the applicant as the basis for all tax calculations. The
				application shall contain the following information.
1. The chief financial officer of the
				applicant company requesting tax equalization under this program will submit a
				written certification of the following estimated costs for each site under
				consideration:
a. construction
				cost;
b. annual labor
				cost;
c. annual raw materials
				cost;
d. annual transportation
				cost:
e. annual power cost;
				and
f. site cost.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1915 - Yearly Determination of Tax Equalization Amount

Current through Register Vol. 50, No. 6, June 20, 2024
A. The contract of tax equalization shall, on
				an annual basis, effect equality in amount between the taxes payable in
				Louisiana and the taxes which would have been payable in the competing state.
				For each taxable year of the contractee, at the time of filing the contractee's
				annual Louisiana corporate income and franchise tax return, the contractee
				shall furnish. to the Department of Revenue and the Department of Economic
				Development, the following, where applicable, on an annual basis:
1. a taxable year compilation of what would
				have been the state and local sales and use taxes, including any applicable tax
				incentives, of the contractee had it located in the competing state, together
				with a compilation of the actual Louisiana state and local sales and use taxes
				paid for the contractee's taxable year;
2. using forms provided by the competing
				state, a computation of the corporate income tax and corporate franchise tax,
				including any applicable incentives, which would have been owed had the
				contractee located in the competing state;
3. all other state and local returns or tax
				payment information, including any applicable tax incentives, for the
				contractee's taxable year which would have been filed or paid by the contractee
				had the contractee located in the competing state; and
4. all other tax returns, including any
				applicable incentives, filed in the state of Louisiana with other state
				agencies or local governments.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1917 - Contract Period/Project Completion Report

Current through Register Vol. 50, No. 6, June 20, 2024
A. Contractee must file a project completion
				report, on forms provided by the Office of Business Development Services,
				within 30 days following the last day of the month after effective use of the
				structure has begun or construction is essentially complete, whichever occurs
				first.
B. The first year of the
				five-year tax equalization contract period shall be the taxable year of the
				contractee in which operations begin as specified in the project completion
				report, which report shall become an addendum to this contract. The contract
				shall expire on the last day of the forty-eighth month following the end of the
				taxable year of contractee in which operations begin.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  47:3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1919 - Affidavit of Final Cost

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Within six months after completion of construction or the purchase of facility,
				the owner of the establishment shall file on the prescribed form an affidavit
				of final cost showing complete cost of the project, together with a fee of $100
				for the inspection which will be conducted by the Office of Business
				Development Services.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  47:3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1921 - Contract Renewals

Current through Register Vol. 50, No. 6, June 20, 2024
A.
1. Except as otherwise provided in this
				Section, each contract of exemption entered into under authority of this
				Chapter shall be reviewed and reevaluated, and shall be subject to
				renegotiation, five years from the date of the execution of the contract and
				may be renewed for an additional five-year period.
2. Not more than one year prior to the
				expiration of a contract and not less than six months prior to the expiration,
				a company wishing an additional five-year contract period shall file with the
				Board of Commerce and Industry the information required in §1913. A.2 regarding certification of taxes. A renewal fee of $50 must accompany the
				renewal application.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1923 - Annual Review/Violation of Contract

Current through Register Vol. 50, No. 6, June 20, 2024
A. The contractee agrees to an annual review
				and inspection by the Department of Economic Development and shall make all
				books and records of the company available for inspection. The contractee
				agrees to have an officer of authority in attendance at the yearly review of
				the exemption by the Department of Economic Development. Included in this
				annual review shall be a review of employment data on the average number of
				jobs by month.
B. Written notice of
				any violations of the terms and conditions of this contract shall be given to
				contractee, who shall have ninety days within which to correct the violations.
				If the violation is not corrected within 90 days, any remaining portions of the
				exemption from tax granted under this contract may be terminated.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  3201-3206.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 19 - Tax Equalization Program › Section I-1925 - Environmental Report Requirement

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any applicant, the primary business of
				which is the commercial treatment, disposal, or destruction of hazardous waste
				generated outside Louisiana, shall submit with the application:
1. information relative to the impact the
				establishment will have on the environment;
2. a history of the compliance with
				environmental laws in Louisiana or any other state in which the applicant has
				operated. The history will include a list of any citations issued by any
				federal, state or local agency charged with the enforcement of any law
				concerning the environment or the transportation, treatment, disposal or
				destruction of hazardous waste.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2701 - Purpose and Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				purpose of this Chapter is to implement the Technology Commercialization Credit
				and Jobs Program as established by
				R.S.
				51:2351 et seq.
B. This Chapter shall be administered to
				achieve the following purposes:
1. to induce
				companies purchasing the rights to commercialize technology produced at a
				Louisiana university to locate and grow their businesses in
				Louisiana;
2. to expand the economy
				of the state by enlarging its base of technology and research-based
				businesses;
3. to enlarge the
				number of quality jobs available to an educated workforce to retain the
				presence of young people educated in Louisiana colleges and universities;
				and
4. to attract and retain the
				finest research faculty to Louisiana universities.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2705 - Determination of Eligibility to Earn Tax Credits

Current through Register Vol. 50, No. 6, June 20, 2024
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;
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2707 - Requirements for Eligibility

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				To be eligible for certification under §2705, the taxpayer must meet the
				following requirements:
1. for a Technology
				Commercialization Credit:
a. the taxpayer must
				invest in commercialization costs, including investment by purchase or lease of
				machinery and equipment which is placed into and maintained in service in
				Louisiana that is directly related to the production of technology or is used
				to produce resources essential to the production of technology;
b. the taxpayer must enter into an agreement
				with a Louisiana regionally accredited college, technical school, university,
				or research company to commercialize or research a technology;
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2709 - Certification of Amount of Credit

Current through Register Vol. 50, No. 6, June 20, 2024
A. The technology commercialization tax
				credit shall be:
1. equal in value to 40
				percent of the amount of money invested by the taxpayer applicant in
				commercialization costs for one business location;
2. a refundable credit which may be applied
				to any income or corporation franchise tax liability owed to the state by the
				taxpayer;
3. limited to an
				investment of $250,000 per five-year certification period.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2711 - Eligible Commercialization Costs

Current through Register Vol. 50, No. 6, June 20, 2024
A. Investment in machinery and equipment
				shall include:
1. the purchase price,
				including any taxes and costs of delivery and installation, and the capitalized
				amount of a capitalized lease;
2.
				the machinery and equipment must remain in use at the business location during
				the five tax years the taxpayer is eligible to earn the credit or its expected
				useful life, whichever is less. The sales price, trade in value, or other value
				received in the sale or disposition of the machinery or equipment shall be
				deducted from the commercialization costs for that year.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2713 - Recapture of Credits

Current through Register Vol. 50, No. 6, June 20, 2024
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
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2715 - Application Fee [Formerly Section 2711]

Current through Register Vol. 50, No. 6, June 20, 2024
A.
1. An
				application fee in the amount equal to 0.5 percent (0.005) times the total
				anticipated tax incentive with a minimum application fee of $500 and a maximum
				application fee of $15,000 shall be submitted with each application.
2. All fees shall be made payable to:
				Louisiana Department of Economic Development.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2717 - Applicant Receiving Tax Credits not Eligible to Receive Certain other Tax Credits and Exemptions

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Notwithstanding any other provision of law to the contrary, an applicant who
				receives tax credits pursuant to the provisions of this Chapter shall not be
				eligible to receive the other credits or exemptions provided for in the
				following provisions of law in connection with the activity for which the tax
				credits or rebates were received:
1. the tax
				credit for generation of new jobs provided for in
				R.S.
				47:34;
2. the Louisiana Quality Jobs Program
				provided for in
				R.S.
				51:2451 et seq.;
3. the employer credit for employment of
				previously unemployed persons provided for in
				R.S.
				47:6004;
4. the Louisiana basic skills training tax
				credit provided for in
				R.S.
				47:6009;
5. the tax credit for employee alcohol and
				substance abuse treatment programs provided for in
				R.S.
				47:6010;
6. the sales tax rebate and income tax
				credits of the Enterprise Zone Program provided for in
				R.S.
				51:1787;
7. the reentrant jobs credit for formerly
				incarcerated employees provided for in
				R.S.
				47:287.748;
8. the corporation income tax credit for new
				jobs provided for in
				R.S.
				47:287.749;
9. the neighborhood assistance tax credit
				provided for in
				R.S.
				47:287.753.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 27 - Technology Commercialization Credit and Jobs Program › Section I-2719 - Applicability of Act 125 of the 2015 Legislative Session to the Technology Commercialization Credit and Jobs Program

Current through Register Vol. 50, No. 6, June 20, 2024
A. Pursuant to Act 125 of the 2015 Regular
				Session of the Louisiana Legislature, applications approved on or after July 1,
				2015, are subject to the following reductions from July 1, 2015, through June
				30, 2018:
1. technology commercialization
				credits-28.8 percent of the amount of the investment;
2. technology jobs credits-4.32 percent of
				payroll for new direct jobs.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 29 - Research and Development Tax Credit › Section I-2901 - Purpose and Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				purpose of this Chapter is to implement the Research and Development Tax Credit
				Program as established by
				R.S.
				47:6015.
B. This Chapter shall be administered to
				achieve the following purposes:
1. encourage
				the development, growth, and expansion of the private sector within the state;
				and
2. encourage new and continuing
				efforts to conduct research and development activities within this
				state.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 29 - Research and Development Tax Credit › Section I-2904 - Type, Amount and Duration of Credit

Current through Register Vol. 50, No. 6, June 20, 2024
A. Type. Any taxpayer meeting the following
				criteria shall be allowed a tax credit to be applied against income and
				corporation franchise taxes due:
1. employs
				50 or more persons (including affiliates) and claims for the taxable year a
				federal income tax credit under
				26 U.S.C. §
											41(a) for increasing
				research activities;
2. employs
				less than 50 persons (including affiliates), and claims for the taxable year a
				federal income tax credit under
				26 U.S.C.
				41(a) for the taxable year,
				or incurs qualified research expenses for the taxable year, as defined in
				26 U.S.C. §
											41(b); and
3. receives a small business innovation
				research grant, as defined in
				R.S.
				47:6015(D).
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 29 - Research and Development Tax Credit › Section I-2911 - Recapture of Credits

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
				application for credit certification shall constitute:
1. a consent by the taxpayer that credits
				granted under this Section, but later disallowed in whole or in part, may be
				recovered by the secretary of the Department of Revenue from the taxpayer
				applicant through any collection remedy authorized by the provisions of
				R.S.
				47:6015(H); and
2. a consent by the taxpayer that the
				Department of Revenue may disclose to LED, any tax information of the taxpayer
				related to the earning of, or use of research and development tax credits by
				the taxpayer or any other information required by LED for the effective
				administration of this program, provided that such tax information, shall
				remain confidential in the possession of LED.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 29 - Research and Development Tax Credit › Section I-2913 - Ineligible Businesses

Current through Register Vol. 50, No. 6, June 20, 2024
A. For
				tax years beginning on or after January 1, 2013, the following types of
				businesses will be ineligible to participate in the program, unless
				specifically invited by the secretary of LED to:
1. professional services firms that do not
				have a pending or issued United States patent related to the qualified research
				expenditures claimed; and
2.
				businesses primarily engaged in custom manufacturing or custom fabricating that
				do not have a pending or issued United States patent related to the qualified
				research expenditures claimed.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 29 - Research and Development Tax Credit › Section I-2915 - Transfer of Certain Research and Development Credits

Current through Register Vol. 50, No. 6, June 20, 2024
A. 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.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 31 - Assessment of Tax-Exempt Pollution Control Equipment › Section I-3101 - Assessment of Tax-Exempt Pollution Control Equipment

Current through Register Vol. 50, No. 6, June 20, 2024
A. Six months prior to the date of expiration
				of an industrial tax exemption contract on air or pollution control equipment,
				the subject company will file with the Board of Commerce and Industry the
				following information:
1. four copies of the
				tax exemption contract covering the equipment;
2. four copies of the certification by the
				Louisiana Air and/or Stream Control Commission(s) that the subject equipment is
				a valid pollution control device;
3. four certified copies of a rendition of
				the actual market value of the equipment at the time the tax exemption is to
				expire, according to the method set forth in Act 69.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 33 - Angel Investor Tax Credit › Section I-3301 - General

Current through Register Vol. 50, No. 6, June 20, 2024
A. The intent of
				the Angel Investor Tax Credit Program Act of 2011 (Act 414 of 2011;
				R.S.
				47:6020, the provisions of which shall
				hereinafter be referred to as "Act 414") is to enhance the entrepreneurial
				business environment and raise ready sources of capital for this environment
				through encouraging third parties to invest in early stage wealth-creating
				businesses expanding the economy of the state, enlarging the quality jobs
				available in Louisiana to retain the presence of young people in Louisiana.
				These provisions are to be read in parimateriae with Act 414. For the purposes
				of this Chapter, the "department" shall be Louisiana Economic
				Development.
B. Act 414 repealed
				the Angel Investor Tax Credit Program Act of 2005 and replaced it with the
				reenacted provisions of
				R.S.
				47:6020. Therefore, effective July 8, 2011,
				which is the date the governor signed Act 414, the department must recertify
				all Louisiana entrepreneurial businesses and all annual and program caps for
				individual businesses will start over.
C. Effective date of the 2021 Angel Investor
				Tax Credit Program rule changes.
1. The
				provisions of the 2021 rule changes shall apply to applications filed after the
				date of promulgation, detailed in the Louisiana Register published on (Month)
				20, 2021, except for the provisions of
				Section
				3303 codifying current
				administrative practice.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 33 - Angel Investor Tax Credit › Section I-3302 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Terms not
				otherwise defined in this Chapter shall have the same meaning given to them in
				R.S.
				47:6020 unless the context clearly requires
				otherwise.
B. In this Chapter, the
				following terms shall have the meaning provided in this Section, unless the
				context clearly requires otherwise.
Angel Pool
-a group of persons including
				  corporations, partnerships, limited liability partnerships and limited
				  liability corporations composed of persons meeting the qualifications of an
				  accredited investor.
Certification
-certification by the
				  department recognizing the company as an eligible Louisiana Entrepreneurial
				  Business
.
Department
-the Department of Economic
				  Development
LEB
-Louisiana Entrepreneurial
				  Business
NAICS
-North American Industrial
				  Classification System.
Opportunity Zone
-a community development
				  program established by Congress in the Tax Cuts and Jobs Act of 2017 defined as
				  a population census tract that is a low-income community that is designated as
				  a qualified opportunity zone.
Professional Services
-occupations requiring
				  specialized education, knowledge, labor, judgment or are predominantly mental
				  or intellectual in nature; and which may require the holding of a professional
				  license. Professional services firms may engage in activities which include,
				  but are not limited to, architecture, engineering, legal services and
				  accounting.
Qualified Investment
-a cash investment into
				  a Louisiana Entrepreneurial Business by an Accredited Investor which may be in
				  the form of equity, convertible debt, or other types of subordinate debt as
				  approved by the department. Only the initial principal amount of any debt
				  investment is eligible for the credit.
Reservation Letter
-letter issued by the
				  department provisionally indicating the dollar amount of credits which their
				  investors may be eligible to receive if proof of qualified investment can be
				  shown.
Subordinate Debt-
a.
				by its terms requires no repayment of principal for the first three years after
				issuance;
b. is not guaranteed by
				any other person or secured by any assets of the LEB or any other person;
				and
c. is subordinated to all
				indebtedness and obligations of the LEB to its general creditors.
Tax Credit Certification Letter
-letter
				  issued by the department certifying the dollar amount of Angel Investor Tax
				  Credits earned by an investor for a particular tax year.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 33 - Angel Investor Tax Credit › Section I-3303 - Accredited Investor

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
accredited investor
shall meet the definition established by
				Rule
				501 in Regulation D of the
				General Rules and Regulations promulgated under the Securities Act of 1933,
				which may include but not be limited to the following:
1. an angel pool (which may be a limited
				liability corporation or limited liability partnership, as provided below) as
				determined by the department, all of whose participants shall be accredited
				investors;
2. a person who has
				individual net worth, or joint net worth with the person's spouse, that exceeds
				$1 million at the time of the purchase;
3. a person with income exceeding $200,000 in
				each of the two most recent years or joint income with a spouse exceeding
				$300,000 for those years and a reasonable expectation of the same income level
				in the current year;
4. the
				qualified investment in the Louisiana Entrepreneurial Business must be
				maintained for three years unless otherwise approved by the Department of
				Economic Development;
5. persons,
				including corporations, partnerships, limited liability partnerships and
				limited liability corporations composed of persons meeting the qualifications
				of Paragraphs A.2 and 3 above, provided that the person's share of the tax
				credits of the entrepreneurial business shall not exceed that person's share of
				the profits of the entrepreneurial business or a person's share of the tax
				credits as a partner or a member of a limited liability corporation or
				partnership shall not exceed that person's share of the profits of the
				LLC.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 33 - Angel Investor Tax Credit › Section I-3305 - Louisiana Entrepreneurial Business

Current through Register Vol. 50, No. 6, June 20, 2024
A. A
Louisiana Entrepreneurial
				Business
shall be defined as those businesses approved by the
				department under Act 414 and that meet the following requirements.
1. A business shall provide the department
				with a business plan that includes all appropriate long and short term
				forecasts and contingencies of business operations, including research and
				development, profit, loss and cash flow projections and details of expenditure
				of angel investor funding in accordance with Act 414 and shall also include the
				following:
a. the principal business
				operations of the business are located in Louisiana including Louisiana as the
				primary place of employment for the employees of the business;
b. demonstrating a plan or progression
				through which more than 50 percent of its sales will be from outside of
				Louisiana;
c. employs 50 or fewer
				full-time employees; and
d. the
				business has either gross annual sales of less than $10 million or a business
				net worth of less than $2 million.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 33 - Angel Investor Tax Credit › Section I-3309 - Applicability of Act 125 of the 2015 Legislative Session to the Angel Investor Tax Credits

Current through Register Vol. 50, No. 6, June 20, 2024
A. Act
				125 of the 2015 Regular Session of the Louisiana Legislature makes the
				following changes to the Angel Investor Tax Credits from July 1, 2015 until
				June 30, 2018:
1. credits shall be reserved
				and issued at a rate of 25.2 percent of the investment amount in the LEB and
				credits shall be issued at the reserved rate regardless of the date of
				issuance;
2. the total amount of
				credits that may be reserved and issued in a calendar year is $3.6 million,
				exclusive of any un-granted credits carried forward from previous years;
				and
3. an investor may be issued
				credits on investments up to $720,000 per business per year and up to $1.44
				million total per business.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 35 - Retention and Modernization Program › Section I-3501 - Purpose and Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				purpose of this Chapter is to implement the Retention and Modernization Act as
				established by
				R.S. 51:2399.1
				et seq.
B. The Chapter shall be
				administered to achieve the following purposes:
1. to induce businesses to remain in the
				state and not relocate outside the state; and
2. to modernize existing business operations
				in Louisiana.
Louisiana Administrative Code › Title 13 - ECONOMIC DEVELOPMENT › Part I - Financial Incentive Programs › Chapter 35 - Retention and Modernization Program › Section I-3505 - Eligibility Requirements

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
				employer must meet two sets of requirements.
1. Qualifying Manufacturer
a. Eligible Employers. To qualify for a
				contract pursuant to this Chapter, employers must be a manufacturer, as defined
				by North American Industry Classification System (NAICS) codes: 113310, 211,
				213111, 541360, 311-339, 511-512 and 54171 as the employer's primary
				function.
b. Ineligible Employers.
				Employers engaged in the following professions or services, and identified by
				the following NAICS codes, shall not be eligible for any credits under this
				Chapter:
i. retail employers (44 and
				45);
ii. business associations and
				professional organizations (8139);
iii. state and local governmental
				enterprises;
iv. real estate
				agents, operators and lessors;
v.
				automotive rental and leasing; local solid waste disposal, local sewer systems,
				and local water systems business;
vi. non-profit organizations;
vii. gaming industry (713219 and
				721120);
viii. attorneys.
c. The department may promulgate
				rules annually listing other employers, professions or service industries which
				are eligible and not eligible for any credit pursuant to this Chapter, and such
				rules shall not take effect unless presented to LEDC and approved by both the
				House Ways and Means Committee and the Senate Committee on Revenue and Fiscal
				Affairs in a public meeting held for such purpose.