R357-15-4. Required Documentation and Verification Information

  (1) To claim any of the tax credits available under 63N-2-201 et. seq. the following basic information must be provided to the Office:

  (a) business entity's name that is claiming a tax credit on a Utah Tax filing submission;

  (b) contact name, email, phone number, mailing address and relevant title(s);

  (c) the physical operating address where the business entity is located including a screenshot of the address pinpoint within the Enterprise Zone as found on locate.utah.gov.

  (d) the business entity's tax identification number whether a federally provided Employer Identification Number (EIN) or a Social Security Number (SSN); and

  (e) information as required under Section R357-15-3.

  (2) To qualify for any of the Employment tax credits pursuant to Subsections 63N-2-213(7)(a) through (d) the following documentation and information is required:

  (a) current total of all employees including the total of employees as reported to the Department of Workforce Services for the last three years;

  (b) the number of new full-time employee positions created above the baseline.

  (i) For each new full-time employee position above the baseline the applicant must provide:

  (A) Employee Name;

  (B) Employee wages paid;

  (C) Employee hours worked;

  (D) Employee Hire date and termination date id applicable;

  (E) If applicable, proof of employer-sponsored health insurance program if the employer pays at least 50% of the premium cost;

  (F) If applicable, evidence that the business entity adds value to agricultural commodities through manufacturing or processing, including a list of sample products or processes.

  (3) To qualify for the private capital investment tax credit under Subsections 63N-2-213(7)(e) and (f) the following documentation and information is required:

  (a) If the private capital investment is for the rehabilitation of a building in an Enterprise Zone the applicant must provide:

  (i) The rehabilitated building's physical address

  (ii) Documents showing the current owner such as the deed or mortgage documents;

  (iii) The date the building was last occupied;

  (iv) A current occupancy permit or certificate;

  (v) Purchase documentation of all rehabilitation expenses totaling the amount the tax credit is calculated from;

  (vi) One or more forms of payment documentation validating any rehabilitation expense with an amount claimed equal to or greater than the amount established by the office is paid in entirety; and

  vii. Any other documentation requested by the Office including a sworn affidavit confirming the rehabilitation costs from the owner of the building if applicant is not the owner of the building.

  (b) If the private capital investment is a qualifying investment in plant, equipment, or other depreciable property in an Enterprise Zone the applicant must provide:

  (i) an itemized list of qualified investments being claimed for the credit on a template provided by the office;

  (ii) purchase documentation for all investment claimed; and;

  (iii) one or more forms of payment documentation validating an investment with an amount claimed that is equal to or greater than an amount established by the office is paid in entirety;

  (iv) property and real estate investments also require;

  (A) a settlement statement; and

  (B) property tax notice with building and land values separated from total property value.

  (V) qualified business use vehicle and other motor vehicle investments also require business use percentage.