State Tax Credit News Briefs – March 2019

Monday, March 4, 2019

The Utah Governor’s Office of Economic Development amended and made effective Dec. 24, 2018, Utah Administrative Rules Sections R357-15-1 through R357-15-6 for the Utah Enterprise Zone Tax Credit. Changes include providing definitions for software, qualified-business-use vehicle, payment documentation and purchase documentation. In addition, required documentation to qualify for the private capital investment tax credit is expanded. Changes clarify that the administrator may deny a tax credit for the trade-in allowance of a vehicle, certain software purchases, applications older than three years and fixed assets purchased from another entity with the same ownership.

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The Rhode Island Commerce Corporation amended and made effective Dec. 19, 2018, the regulation, 870-RICR-30-00-3, regarding the Rebuild Rhode Island Tax Credit program. The regulation was amended to reflect that it is jointly promulgated with the Rhode Island Division of Taxation to reduce redundant regulations. In addition, the amended regulation specifies that at the election of the commerce corporation, the certification may provide for the issuance of all tax credit certificates for each year of the eligibility period at one time. The division must issue all tax credit certificates for all such years as provided in the certification.

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Indiana Gov. Eric J. Holcomb announced Dec. 6, 2018, his 2019 Next Level Agenda. The agenda focuses on jobs, economic growth, health, infrastructure and government service. One of Holcomb’s key points was on maintaining and building the state’s infrastructure. His $1 billion Next Level Connections program will expand broadband services in rural Indiana, grow the state’s systems of trails, create more nonstop international flights and move up the completion of major highway projects. 

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