Form Int-2 - Report Of Investment In Project For Income Tax Capital Credit Page 4
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4throughout the life of the credit. To verify the wage and new employee require-
mencement of the project.
ments, a list of all employees working at the project should be attached to
Line 9b – Check applicable box. If the investing company closed a facility
Form INT-2. The list should include employee name, social security number,
in Alabama within two years of the project being placed in service, list the date
date of hire, date of termination (if applicable) and average hourly wage.
of the closure for the facility, the number of employees at the facility on the date
Projects whose Form INT was filed on or before May 22, 2009, the base
of closure, and the location of the facility. If an investing company places a
wage requirement is either an average hourly wage of not less than eight dol-
qualifying project in service within two years following a facility closure, only
lars ($8) per hour or an average total compensation of not less than ten dol-
the number of employees in excess of the number of employees who worked
lars (10) per hour, including benefits.
at the existing facility at the time of the closure shall be treated as new employ-
ees for purposes of meeting the employee requirements.
The above wage requirements do not include employees of direct proces-
sors of agriculture food products. These employees’ wages shall be deter-
Line 10 – Check applicable box. Property previously owned or leased
mined by the local labor market or a source established by the Department of
before the commencement of the qualifying project by the investing company
Revenue if reliable local labor market statistics is not available.
or a related party shall not be included as a part of the project’s capital cost
unless such property was located outside of Alabama at least one year prior
Line 9a – Check the applicable box. The qualifying project must create new
to the date the project is placed in service.
jobs and those jobs must be a net increase in employment for the investing
company. If the investing company reduced its workforce within two years of
Line 12 – Enter the name of the person to which all correspondence should
the qualifying project being placed in service, only the number of employees in
be directed regarding the project. Include a telephone number if different from
excess of the Alabama employee level prior to the reduction shall be treated
the number indicated on the top of this form.
as new employees for purposes of meeting the employee requirements. A two
year look back period from the placed in service date may be required to deter-
Allocations of Capital Credit – List all participants of the project entity
mine if the existing employee base decreased prior to or during the com-
entitled to receive the capital credit. Attach additional sheets if necessary.
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