Form Int - Report Of Intent To Invest In Project For Income Tax Capital Credit - 2009 Page 3
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4created, and the average hourly wage of all new employees at the project must
as an enterprise zone by law or that is governed by the Alabama Enterprise
meet the base wage requirement. A project that produces electricity from
Zone Act, or any Alabama county which is considered to be less developed as
hydropower that is located in a Favored Geographic Area qualifies for the lower
determined by Section 40-18-190(6). The Department of Industrial Relations is
job creation requirement of five (5) jobs for new employees but the capital costs
responsible for determining what counties are considered less developed based
must not be less than $5,000,000.
on statutory criteria and must re-determine these counties every January 1. A
Alabama State Docks Project
current Favored Geographic Area listing is available on the Department of
Revenue’s website at under Tax Incentives. A proj-
ect that qualifies in a Favored Geographic Area will continue to be a qualified
A project with capital costs which are not less than $8,000,000, and at which the
project with Favored Geographic Area status, even if the county later loses its
predominant trade or business activity conducted will constitute industrial, ware-
designation as a Favored Geographic Area, as long as the project otherwise
housing, or research activity as defined in Section 40-18-240(4) as North
remains in compliance with the law.
American Industry Classification System (NAICS) Subsector 493 (Warehousing
and Storage), or Industry Number 488320 (Marine Cargo Handling), when the
A project at which the predominant trade or business activity is an industrial,
trade or business is conducted on premises in which the Alabama State Port
warehousing, or research activity as defined in Section 40-18-190(8), research
Authority has an ownership, leasehold, or other possessory interest and such
and development facility, or a renewable energy facility that is located in a
premises are used as part of the operations of the Alabama State Port Authority.
Favored Geographic Area can qualify for the capital credit with a lower invest-
The state docks project is provided under Section 40-18-240 et seq., Code of
ment threshold of at least $500,000 and a minimum of 5 jobs for new employ-
Alabama 1975. Written approval of the Governor, Finance Director, and
ees created. A data processing center located in a Favored Geographic Area
Alabama State Port Authority must be included with Form INT for state docks
may qualify for the lower investment threshold of $500,000 but must create 50
projects as required under Section 40-18-241.
Line By Line Instructions
jobs for new employees. An electricity production project located in a Favored
Geographic Area may qualify for the lower job creation of five (5) jobs for new
Project Entity – Enter the name of the entity that will receive the capital credit.
employees but the capital costs must not be less than minimum capital costs as
required for the business activity.
Line 2 – Describe the type of trade or business that the project will be engaged
The entity qualifying for the capital credit must be the entity meeting the require-
ments for the capital credit. If the qualifying project is a joint venture, a legal proj-
ect entity must be created in order for the investing companies to receive the
in. For projects that do not require a NAICS code, provide a detailed description
capital credit.
that will identify the activities as qualifying activities. If the project is a SMLLC
or Q-sub, please include this information here. Attach additional sheets if
Single Member Limited Liability Companies (“SMLLC”) will be classified as they
necessary.
Line 3 – Enter a full description of the proposed activities of the project. Please
are classified for federal income tax purposes under the Internal Revenue
Service’s (IRS) “check-the-box” regulations.
If the investing company is a
SMLLC that elects to be treated as a corporation for federal tax purposes, enter
be very detailed in the activities with which the project will be associated. If the
the SMLLC as the project entity. If the investing company is a SMLLC that does
project shall be completed in multiple stages (i.e., phases), all phases must be
not “check-the-box” for federal income tax purposes, the SMLLC shall be treat-
identified in the description of the project. Indicate if the project consists of
ed as a disregarded entity for Alabama tax purposes and the parent must be
new investment at a new site in Alabama, or new investment that will
entered as the project entity.
expand the capacity and the number of employees at an existing facility.
Attach additional sheets if necessary.
Line 4a – Indicate if the project will be a phased project for capital credit pur-
Qualified Subchapter S Subsidiaries (Q-subs) under 26 U.S.C. Section
1361(b)(3) shall be treated as disregarded entities for Alabama income tax pur-
poses. If the investing company is a Q-sub, the parent must be entered as the
poses. This form must be filed with the Department before any phase is placed
project entity.
in service.
Project Name – If the project is identified internally by a project name, enter the
Line 4b – Enter the projected date the project will be placed in service. The
project name. For example, ABC, Inc. is the project entity, but the project is
Form INT will not be processed without the estimated placed in service date(s).
known as Alpha Division. If the project is doing business as (dba), enter the dba
If the project shall be completed in multiple stages (i.e., phases), enter the pro-
name. If the project entity has more than one qualifying project for the capital
jected dates each phase will be placed in service. Placed in service is defined
credit, include a project name that can identify each project. If the qualifying proj-
as the earlier of the date on which either a) the period for depreciation with
ect is a SMLLC treated as a disregarded entity for tax purposes, enter the name
respect to the project begins; or b) the project begins a specifically designed
of the SMLLC as the project name. If the qualifying project is a Q-sub, enter the
function for the production of revenue. NOTE: If the project is a phased project,
name of the Q-sub as the project name.
the capital credit will not begin until the last phase is placed in service and any
Address – Enter the mailing address to which all correspondence regarding this
tax liability incurred prior to the last phase being placed in service will not be
subject to the credit.
Line 5 – Enter the capital costs estimated for the proposed project. If the proj-
project should be sent.
Location of Project – Enter the address where the project will be physically
ect is a phased project, enter the total projected costs of all phases. Capital
located, if not the same as the above address.
costs shall not include property previously owned or leased by the investing
FEIN – Enter the Federal Employer Identification Number.
company or a related party before the commencement of the acquisition, con-
struction, installation or equipping of the qualifying project unless such property
NAICS Code – If the predominant business activity is a headquarters facility, or
was physically located outside the state for a period of at least one year prior to
the date on which the qualifying project was placed in service. For other specif-
an industrial, warehousing or research activity as defined in Section 40-18-190
ic inclusions and exclusions of capital costs, see Section 40-18-190(2),
or a state docks project as defined in Section 40-18-240(4), enter the 2007
Departmental Rule 810-2-7-.01(2)(c), or Section 40-18-240(8).
Line 6 – Total all estimated costs from line 5. The qualifying project must meet
North American Industrial Classification System (NAICS) code for project.
Project Filing Status – Check the applicable box.
the minimum capital investment for the type of project indicated. The capital
Line 1a – Check the applicable box. See “Statutory Requirements for the
credit will be determined by the amount of the actual capital costs of the quali-
fying project, which is reported on Form INT-2.
Line 7 – For all projects except state docks projects, enter the number of new
Capital Credit” instructions for project descriptions.
Line 1b – Indicate if the project is located in a Favored Geographic Area. If the
employees expected to be hired at this project.
project is located in a Favored Geographic Area, the physical address, including
county, must be included on application. Please note that a headquarters facil-
For headquarters and data processing centers, not less than 50 jobs for new
ity does not have Favored Geographic Area status.
employees must be created. For all projects except for headquarters, data pro-
cessing centers, small business additions and projects located in favored geo-
A Favored Geographic Area is defined as either any area designated or created
graphic areas, not less than 20 jobs for new employees must be created. For
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