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APPLICATION FOR A COMMUNITY CONTRIBUTION TAX CREDIT

By Nancy Foster,2014-02-17 21:32
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APPLICATION FOR A COMMUNITY CONTRIBUTION TAX CREDIT ...

    COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM

    APPLICATION FOR A COMMUNITY CONTRIBUTION TAX CREDIT

    FORM 8E-17TCA#01 (revised 07/2006)

    INSTRUCTIONS

    WHO MUST FILE: Business firms must submit this application for approval in order to obtain a tax credit or a

    sales tax refund authorized under sections 212.08 (5) (p), 220.183 or 624.5105, F.S.

    WHEN TO FILE: This application may be filed at any time when tax credits are available. However,

    contributions made prior to the approval of the project will not qualify for the tax credit or sales tax refund.

    Pursuant to legislative revisions, tax credit applications will be accumulated for the first 10-business days of the

    fiscal year (July 2 July 16) prior to processing them. If requests for tax credits exceed the tax credit allocation

    during the first 10-business days of the fiscal year, tax credit applications will be approved on a pro rata basis.

    There will be $10.5 million tax credits for projects that provide homeownership opportunities for low-income

    households and $3.5 million tax credits for all other projects.

SIGNATURE AND MAILING: This application must be signed by an authorized official of the firm making

    the donation and an authorized official from the sponsor acknowledging receipt of the contribution. Also attach

    the following: a copy of the check; itemized invoice; or deed, appraisal and “Real Property Donation Affidavit";

    proof that the donation was received (see Item 7 below); and a copy of OTTED’s sponsor approval letter (or

    recertification letter). Submit the original form and attachments to the:

    EXECUTIVE OFFICE OF THE GOVERNOR

    OFFICE OF TOURISM, TRADE AND ECONOMIC DEVELOPMENT

    COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM

    THE CAPITOL; SUITE 2001

    TALLAHASSEE, FLORIDA 32399-0001.

    CLAIMING A TAX CREDIT: You will receive an OTTED donation approval letter and a signed copy of this

    application form upon approval of a donation for a tax credit. Attach the a copy of OTTED’S donation approval

    letter when filing your Corporate Income Tax Return (Form F-1120) or Insurance Premium Tax Return (Form DR-

    908) with the Florida Department of Revenue

    CLAIMING A SALES TAX REFUND: You will receive an OTTED donation approval letter and a signed

    copy of this application form upon approval of a donation for a tax credit or a sales tax refund. Attach a copy of

    OTTED’S donation approval letter when filing for a Sales Tax Refund (Form DR-26S) with the Florida Department of Revenue. Only one application for a Sales Tax Refund may be submitted within a 12-month

    period. If the application for a sales tax refund exceeds the sales tax remitted in the previous 12 months, the

    balance may be claimed as a refund against sales tax remitted in each of the three years subsequent to the

    application date.

ONE TAX LIMITATION: A business is limited to taking a tax credit/refund against one tax.

    HOW TO COMPLETE THE APPLICATION FORM:

    SECTION 1: Section 1 is to be completed by the business or individual that made the contribution.

     Item 1: Indicate the exact name of the donor.

     Item 2: Indicate the donor’s Federal Employer Identification Number or Social Security Number.

     Item 3: Indicate the address where correspondence regarding this application should be directed.

     Item 4: Provide the firm’s telephone and fax numbers.

     Item 5: Indicate the name of the sponsoring agency and the sponsor’s project approval number.

     Attach a copy of the sponsor approval or recertification letter.

     Item 6: Describe the purpose of the contribution by giving a brief explanation of the way in

     which this contribution will assist the sponsor with their approved project.

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(continued)

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    APPLICATION FOR A COMMUNITY CONTRIBUTION TAX CREDIT

    INSTRUCTIONS

    (continued)

    Item 7: Indicate the type and value of the contribution and provide proof of the donation by attaching one of the

     following:

    (a) Cash Contributions: A photocopy of the check made payable to the approved sponsor; a receipt

    signed by the sponsor; a letter signed by the sponsor acknowledging receipt of the donation; or a notation

    in Section 1 Item 7 of the application (next to the amount of the contribution) which indicates that the

    sponsoring agency’s officer has “received”, the date, and his or her initials.

    (b) Real Estate Contributions: A copy of the deed, an appraiser’s report and, if applicable, a “Real

    Property Donation Affidavit” (a copy of the check and listing of the number of hours that employees or

    volunteers recruited by the donor volunteered to construct the house via a “Deed of Improvements”); and a

    letter signed by the sponsor acknowledging receipt of the donation.

     (c) Equipment and/or Goods: Copies of the itemized invoices and/or receipts; and a letter signed

     by the sponsor acknowledging receipt of the donation.

    Valuation of goods must be calculated in a manner consistent with US Internal Revenue Service rules.

    The donor must provide supporting documentation of the fair market value of the claimed donation.

    Item 8: Indicate whether or not the donation was made to provide home ownership opportunities

    for low-income persons.

    Item 9: Indicate the business firm’s fiscal year for tax purposes for the year in which the donation was made.

    Item 10: Indicate the type of tax that you will be taking the credit against (a business may only receive a tax credit

    or sales tax refund under one tax).

    If applying for a Sales Tax Refund, indicate the firm’s Sales Tax Registration Number. If the donor is a

    consolidated filer, please provide your consolidated Sales Tax Registration Number. However, if the

    donor is not a consolidated filer and has multiple locations in different counties, please provide a list of

    Sales Tax Registration Numbers to which the credit is to be applied against.

    SECTION II: Section II is to be completed by an authorized official of the business who made the donation.

    SECTION III: Section III is to be completed by an authorized official of the approved sponsor.

    REAL PROPERTY DONATION AFFIDAVIT (via a Deed of Improvements): If the donor is conveying

    improvements as a charitable contribution via a Deed of Improvements the applicant must complete and sign the

    Real Property Donation Affidavit. A copy of the financial donation (check) must be enclosed and a donor is required to provide a minimum of 200 volunteer hours by employees or volunteers to be eligible for a tax credit or

    a sales tax refund. A listing of the names of employees and volunteers that were recruited by the donor must be made

    available for verification purposes.

    SPECIAL INSTRUCTIONS

    It is incumbent upon the sponsor to inform any prospective contributor that the contributing business may not have

    any financial interest in the sponsor to which the donation is being provided.

    If there are any questions by either the sponsor or the contributing business concerning the eligibility,

    appropriateness, value or timing of the donation, the issue should be raised with the Office of Tourism, Trade and

    Economic Development (850/487-2568) prior to making the donation. Businesses making non-cash contributions

    are particularly advised to verify their donations. EXECUTIVE OFFICE OF THE GOVERNOR OFFICE OF TOURISM, TRADE AND ECONOMIC DEVELOPMENT COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM THE CAPITOL; SUITE 2001 TALLAHASSEE, FLORIDA 32399-0001 PHONE: 850/487-2568

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AX: 850/487-3014

F

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    COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM

    REAL PROPERTY DONATION AFFIDAVIT

    Via a Deed of Improvements

    INSTRUCTIONS

WHO MUST FILE: In addition to a completed Application For A Community Contribution Tax

    Credit (Form 8E-17TCA#01; revised 01/2005) a donor must submit a completed Real Property

    Donation Affidavit and a Deed of Improvements when the donor is conveying improvements as a

    charitable contribution in order to obtain a tax credit or a sales tax refund authorized under sections

    212.08 (5) (p), 220.183 or 624.5105, F.S.

SIGNATURE: An authorized corporate officer or a registered dealer of the firm making the

    donation must sign the Real Property Donation Affidavit and a Deed of Improvements.

FINANCIAL RESOURCES: To be eligible for a tax credit or a sales tax refund when

    improvements are conveyed as a charitable contribution via a Deed of Improvements, a donor is

    required to provide the financial resources to convey the improvements. The dollar amount of

    financial resources that has been provided is required to be listed on the Real Property Donation

    Affidavit. In addition, a copy of the check is required to be enclosed as verification that the donation of financial resources has been made to the approved sponsor prior to applying for a tax

    credit or sales tax refund.

EMPLOYEES/VOLUNTEER: To be eligible for a tax credit or a sales tax refund when

    improvements are conveyed as a charitable contribution via a Deed of Improvements, a donor is

    required to provide the volunteers to convey the improvements. The total number of employees

    or volunteers recruited by the donor that provided the necessary labor to convey the improvements

    is required to be listed on the Real Property Donation Affidavit

    200 VOLUNTEER HOURS REQUIREMENT: To be eligible for a tax credit or a sales tax credit when conveying improvements as a charitable contribution via a Deed of Improvements, a

    donor is required to provide a minimum of 200 volunteer hours (employees or volunteers recruited

    by the donor). The total number of volunteer hours must be listed on the Real Property Donation

    Affidavit.

DEED OF IMPROVEMENTS: To be eligible for a tax credit or a sales tax refund when

    improvements are conveyed as a charitable contribution, a completed and notarized Deed of

    Improvements must be submitted. The Deed of Improvements must identify the improvements that are being conveyed to the approved sponsor and identify the location of the improvements

    (legal description).

EMPLOYEE/VOLUNTEER SIGN-IN SHEETS: The donor or approved sponsor is required to C:\convert\temp\64490608.doc maintain and provide documentation that the donor has provided the required amount of employee/volunteer

    hours for the donor to be eligible for a tax credit or a sales tax refund. The donor must provide a listing of

    the names of the volunteers and employees that were recruited by the donor. This list must be made

    available for verification purposes during donation monitoring visits.

    COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM

    APPLICATION FOR A COMMUNITY CONTRIBUTION TAX CREDIT

    FORM 8E-17TCA#01 (revised 07/2006)

    Under the provisions of sections 212.08 (5) (p), 220.183 and 624.5105, F. S., an application for a tax credit is hereby

    made. The following information is given in support of this application. Please attach the following to this

    application:

     (1) A copy of the check, itemized invoice, or deed, appraisal and “Real Property Donation

    Affidavit”.

     (2) Proof that the donation was received (see Instructions, Item 7 on page two).

     (3) A copy of OTTED’s sponsor approval or recertification letter.

    SECTION I

    1. APPLICANT’S NAME:

    2. F. E. I. N. or S. S. NUMBER:

    3. ADDRESS:

    4. PHONE: FAX:

    5. SPONSOR’S NAME:

     PROJECT APPROVAL NUMBER:

    6. PURPOSE OF THE CONTRIBUTION:

7. TYPE OF CONTRIBUTION VALUE

     ? Check

     ? Real Estate

     ? Goods

     ? Other

8. DOES THE PROJECT PROVIDE HOME OWNERSHIP OPPORTUNITIES?

    YES: ; NO:

9 BUSINESS TAX YEAR:

     FROM , TO ,

10. Please indicate the tax that you will be taking the credit against:

    ? Corporate Income Tax; ? Insurance Premium Tax; ? Sales & Use Tax

     STATE SALES TAX REGISTRATION NUMBER (If applicable):

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     ? ? - ? ? - ? ? ? ? ? ? - ? ? / ?

    APPLICATION FOR A COMMUNITY CONTRIBUTION TAX CREDIT

    FORM 8E-17TCA#01 (revised 07/2006)

    SECTION II

    I,

     (Name) (Title)

    of

     (Name of Firm)

hereby certify that this application has been examined by me and, to the best of my knowledge and

    belief, the information is true, correct and complete. Pursuant to s. 220.183 (2) (c), F. S., I also

    hereby certify that there is no financial interest between the contributing business and the

    sponsoring agency.

Date: Signature:

    SECTION III

    I,

     (Name of Officer) (Title)

    of

     (Name of Sponsoring Agency)

hereby agree to accept the terms and conditions as set forth in this application and in sections

    212.08 (5) (q), 220.183 and 624.5105, F. S. I hereby express my acceptance of the contribution

    in the name of the above-referenced sponsoring agency.

Date: Signature:

    FOR OFFICE USE ONLY

    Application Number Project Approval Number

    A tax credit in the amount of $ is hereby approved.

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(Authorized Signature) (Date)

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    COMMUNITY CONTRIBUTION

    TAX CREDIT PROGRAM

    REAL PROPERTY DONATION AFFIDAVIT

    Via a Deed of Improvements

    Application For A Community Contribution Tax Credit

    Form 8E-17 TCA#01 (revised 01/2005)

    The undersigned (an authorized corporate officer or a registered dealer) hereby

    acknowledges that the firm

    (Federal Employer Identification Number: _) is making a donation of real property to an approved sponsor and is applying for a tax credit or sales tax

    refund within the Community Contribution Tax Credit Program.

    The firm acknowledges that it has executed a Deed of Improvements as a charitable donation and has conveyed unto the grantee all of the improvements, including but not

    limited to the infrastructure and dwelling, located on the certain property listed within the

    Deed of Improvements.

    The undersigned hereby acknowledges that the firm has provided the financial

    resources in the amount of $ (copy of check is enclosed) and provided

    the following number of employees/volunteers who volunteered a total number of hours (a minimum of 200 hours is required) to build this house

    and to convey these improvements. As a result, the undersigned is thereby eligible to apply

    for a tax credit or sales tax refund within the Community Contribution Tax Credit Program.

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    AUTHORIZED SIGNATURE DATE

PRINTED NAME PHONE NUMBER

TITLE FAX NUMBER

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