Form Rv-F1308601 - Franchise And Excise Tax - Job Tax Credit Business Plan Page 2
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1
2FRANCHISE AND EXCISE TAX
JOB TAX CREDIT BUSINESS PLAN
INSTRUCTIONS
Who must file
3) Job Tax Credit
A qualified business enterprise must file this business plan in
order to qualify for the job tax credit provided by Tenn. Code
Check the box next to the level of credit for which you are
Ann. § 67-4-2109(b).
applying.
When to file
(a) Standard Job Tax Credit (Including Tier 1
The business plan must be filed and approved before any job
enhancement counties)
tax credit can be taken on the franchise and excise tax return.
Minimum investment - $500,000
Minimum qualified jobs - 25
Completing the Business Plan
Provide the complete legal name of the taxpayer, mailing
Credit per job - $4,500
address, FEIN, and franchise and excise tax account number.
In order to qualify for the standard job tax credit the qualified
business enterprise must, within 12 months of the effective
1) Capital Investment and Job Creation
date of the business plan, make the required capital
Effective date of the Business Plan: This is the date that the
investment and create at least 25 qualified jobs.
investment period is deemed to begin. Qualified jobs and
required capital investments made on and after this date will be
(b) Additional Annual Job Tax Credit
counted to determine if the requirements have been met in
order to qualify for the job tax credit.
Tier 2 and Tier 3 Enhancement Counties
Investment period: The period during which qualified jobs will
Provide the name of the county where the capital investment
be created as a result of a required capital investment;
will be made and the jobs created.
provided that it does not exceed 3 years from the effective date
of the business plan.
Jobs created outside the investment
A list of enhancement counties is available on the Department
period do not qualify for job tax credit. The investment period
of Economic and Community Development’s website at
may be extended under certain circumstances upon request to
the Commissioner of Revenue.
Enhancement
Minimum
Minimum
Per job
Duration of
The amount of
County
investment
Qualified
credit
annual
Amount of required capital investment:
investment to be made in real property, tangible personal
jobs
credit
Tier 2
$500,000
25
$4,500
3 years
property, or computer software owned or leased in Tennessee
Tier 3
$500,000
25
$4,500
5 years
and valued in accordance with GAAP. The capital investment
is deemed to have been made as of the date of payment or the
date the business enterprise enters into a legally binding
commitment or contract for purchase or construction.
(c) Higher Level of Investment Requirements
Number of new jobs: The number of qualified new jobs to be
Minimum
Qualified
Per job
Duration of
created during the investment period. A qualified job is a job
investment
jobs
credit
annual credit
$1,000,000,000
500
$5,000
20 years
position that is a permanent, rather than seasonal or part-time,
employment position providing employment in a qualified
$500,000,000
500
$5,000
12 years
business enterprise for at least 12 consecutive months to a
$250,000,000
250
$5,000
6 years
person for at least 37 ½ hours per week with minimum health
$100,000,000
100
$5,000
3 years
care.
*$10,000,000
100
$5,000
3 years
*Headquarters facility as defined in § 67-6-224
Principal business activity: Describe the taxpayer’s principal
business activity in Tennessee.
Mail the completed Business Plan to:
Tennessee Department of Revenue
Describe the creation or expansion of the qualified
Provide a brief description of the
P.O. Box 190644
business enterprise:
investment made and how the investment relates to the
Nashville, TN 37219-0644
number of qualified jobs created. Attach any documentation
that would support your description.
For tax assistance call (800) 397-8395 in Tennessee, or if you
are located in the Nashville call area or out-of-state, call (615)
253-0700.
For industrial recruitment information, call the
2) Qualified Business Enterprise
Department of Economic and Community Development at
Check the box next to the type of business that is being
(615) 741-3282 in Tennessee or (800) 251-8594 from outside
created or expanded by the required capital investment.
Tennessee.
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