Indiana Code — Title 6 (Taxation)
IC 6-1.1-40-9
Manufacturing equipment; statement of benefits; review;
findings
Sec. 9. (a) Before a person acquires new manufacturing equipment for which the person wishes to claim a deduction under this chapter, the person must submit to the commission a statement of benefits, in a form prescribed by the department of local government finance.
The statement of benefits must include the following information:
# (1)
A description of the new manufacturing equipment that the person proposes to acquire.
# (2)
An estimate of the number of individuals who will be employed or whose employment will be retained by the person as a result of the installation of the new manufacturing equipment and an estimate of the annual salaries of these individuals.
# (3)
An estimate of the cost of the new manufacturing equipment.
(b) The statement of benefits may contain any other information required by the commission. If the person is requesting or will be requesting the designation of a district, the statement of benefits must be submitted at the same time as the request for designation is submitted.
(c) The commission shall review the statement of benefits if required under subsection (b) and subject to subsection (d). The commission shall make findings determining whether the estimate of:
(1) the number of individuals who will be employed or whose employment will be retained;
(2) the annual salaries of those individuals;
(3) the value of the new manufacturing equipment; and
# (4)
any other benefits about which the commission requires information;
are benefits that can be reasonably expected to result from the installation of the new manufacturing equipment.
(d) The commission shall not review a statement of benefits for new manufacturing equipment installed in a district after June 30, 2018.
As added by P.L.62-1988, SEC.1. Amended by P.L.90-2002, SEC.273; P.L.146-2008, SEC.299; P.L.212-2018(ss), SEC.15.
Amendment history
As added by P.L.62-1988, SEC.1. Amended by P.L.90-2002, SEC.273; P.L.146-2008, SEC.299; P.L.212-2018(ss), SEC.15.
Source: view the official text
Nearby sections (25 sections)
- 6-1.1-39-8 · Expiration of district designation
- 6-1.1-39-9 · Industrial development program obligations; ordinance;
- 6-1.1-39-10 · Authorization to enter into an agreement with a taxpayer…
- 6-1.1-40-1 · "Commission"
- 6-1.1-40-1.5 · "Affiliate"
- 6-1.1-40-2 · "District"
- 6-1.1-40-3 · Repealed
- 6-1.1-40-4 · "New manufacturing equipment"
- 6-1.1-40-5 · "Redevelopment"
- 6-1.1-40-6 · "Rehabilitation"
- 6-1.1-40-7 · Designation as district
- 6-1.1-40-8 · Description of district; resolution; remonstrance; appeal
- 6-1.1-40-9 · Manufacturing equipment; statement of benefits; review;
- 6-1.1-40-10 · Deduction for manufacturing equipment
- 6-1.1-40-11 · Application for deduction; review; change of ownership
- 6-1.1-40-12 · Additional application information; compliance with…
- 6-1.1-40-13 · Benefit performance waiver certificate
- 6-1.1-40-14 · Correction of deduction errors
- 6-1.1-40-15 · Expiration of chapter
- 6-1.1-41-1 · Application of chapter
- 6-1.1-41-2 · Authorization of fund and tax levies
- 6-1.1-41-3 · Notice of proposal; hearing
- 6-1.1-41-4 · Submission of proposal to department of local government
- 6-1.1-41-5 · Repealed
- 6-1.1-41-6 · Objections to establishment of fund or increase in tax rate