California Code of Regulations
Title 10 - Investment
Chapter 7.72 - Rural Investment Tax Exemption
Section 5480.2 - Eligible Entity Application
Universal Citation: 10 CA Code of Regs 5480.2
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
(a) A complete Application consists of a written request containing all of the following items:
(1) Name of Applicant;
(2) Address of Eligible Facility;
(3) Primary classification code from the SIC
or NAICS for the Eligible Facility;
(4) Applicant contact person name, title,
address, phone number, fax number and email address;
(5) Date the Application is signed;
(6) Signature of an Authorized Applicant
Representative;
(7) The following
information relating to Direct Jobs:
(A) For
FTE Employees hired on or before the date of the Application:
1. The job title of each employee;
2. The date of hire of each
employee;
3. The primary job
location for each employee. As used in this subsection "primary job location"
means the location where the employee performs a minimum of 50% of their work
duties;
4. The hours worked by each
employee in the last year. If the employee has been employed less than one year
and the position was in existence prior to the hiring of the employee, include
the hours allocated to this position prior to the hiring of this employee. If
the position has existed for less than a year the number of hours for the
position when extrapolating existing hours to an annualized basis, e.,g. 600
hours for 6 months is a 1,200 hour annualized position. In no case shall one
employee, or one job position, if more than one person held the same job
position (e.g. one employee left the firm and was replaced with another
employee) account for more than 1,750 hours annually; and
5. A certification by the Authorized
Applicant Representative that as of the date the Application is signed each
employee listed is still working for the Applicant at approximately the FTE
Employee hours listed in the Application, their primary job location is in the
county where the Eligible Facility is located, and the Direct Jobs and
Supporting Jobs will be maintained for at least 24 months following the
Attainment Date.
(B) For
FTE Employees to be hired after the date of the Application;
1. The job title of each employee that will
be hired;
2. The estimated date of
hire of each employee;
3. An
estimate of annual hours of employment for that employee; and
4. A certification that the Applicant has a
good faith intention to hire employees for the job positions as listed,
approximately when listed, agrees and understands that each employee must be
primarily employed in the county where the Eligible Facility is located and
must be maintained for at least 24 months following the Attainment
Date.
(8)
Detailed listing of the items making up the Investment including the following
information:
(A) For item(s) already
purchased:
1. Date of purchase;
2. Amount and proof of purchase, e.,g.
invoice;
3. Description of item and
use; and
4. A certification that as
of the date the Application is signed this portion of the Investment is still
owned by the Applicant, located in the county where the Eligible Facility is
located, and that the Investment will be owned by the Applicant and maintained
in the county for at least 24 months after the Attainment
Date.
(B) For item(s) to
be purchased in the future;
1. Estimated date
of purchase;
2. Estimated amount of
purchase and written basis for the estimate, e.g. invoices, purchase orders or
vendor materials;
3. Description of
item and use; and
4. A
certification that the Investment will be made by the Applicant and located in
the county where the Eligible Facility is located, and that the Investment will
be owned by the Applicant and maintained in the county for at least 24 months
after the Attainment Date.
1. New section filed 8-15-2002; operative 9-14-2002 (Register 2002, No. 33).
Note: Authority cited: Section 11152, Government Code; and Section 6378.1, Revenue and Taxation Code. Reference: Section 6378.1, Revenue and Taxation Code.
Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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