California Code of Regulations
Title 10 - Investment
Chapter 7.72 - Rural Investment Tax Exemption
Section 5480.3 - Partial Exemption Allocation Request
Universal Citation: 10 CA Code of Regs 5480.3
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
(a) A complete Request, when submitted with an Eligible Entity Application, shall consist of the following:
(1) The amount of Partial Exemption requested
for the current year;
(2) The
Partial Exemption Use Date, if known;
(3) A certification that the Request is based
on a good faith estimate by Applicant to fully utilize the amount of the
Request; and
(4) A certification
that includes the following language: "I hereby certify that [name of Eligible
Entity] will [or has] purchased during calendar year 20__ tangible personal
property meeting the requirements of the California Code of Regulations, title
18, section
1525.7 in an amount that would
entitle [name of Eligible Entity] to a partial exemption of [amount], pursuant
to Revenue and Taxation Code section
6378.1;"
(b) A complete Request, when submitted subsequent to the Eligible Entity Application, shall consist of a written document signed and dated by an Authorized Applicant Representative and containing all of the following information:
(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) The amount of Partial Exemption requested
for the current year;
(6) The
Partial Exemption Use Date, if known;
(7) A certification that the Request is based
on a good faith estimate by Applicant to fully utilize the amount of the
Request;
(8) A certification that
includes the following language: "I hereby certify that [name of Eligible
Entity] will [or has] purchased during calendar year ___ tangible personal
property meeting the requirements of the California Code of Regulations, title
18, section
1525.7 in an amount that would
entitle [name of Eligible Entity] to a partial exemption of [amount], pursuant
to Revenue and Taxation Code section
6378.1;"
and
(9) For Applicants that have
already received a Eligibility Letter:
(A) A
copy of the Eligibility Letter.
(B)
A certification by an Authorized Applicant Representative that the Applicant is
on schedule to meet the Investment, and filling of new Direct Jobs plus
Supporting Jobs, each as required by section
5480.1(i).
(C) A copy of any Certification Letter that
was submitted as described in Section
5480.7.
(D) A Copy of Extension Requests granted
pursuant to Section
5480.6, if applicable.
(E) A copy of any previously received
Exemption Allocation Letter(s); and either
1.
The Partial Exemption Use Date; or
2. Written authorization for the CIEDB Staff
to obtain confirmation from the Board of Equalization that the Applicant has
not used the Partial Exemption.
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.
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