Louisiana incentives


Our Value Add…

  • Detailed knowledge of local and state program rules and regulations
  • Monitor policy changes impacting each program and inform client
  • Maximize incentives within parameters of each program
  • Uncover additional benefits through exhaustive review of payroll/employee data
  • Efficient processes resulting in high level of confidence from LED
  • Ensure client meets program’s annual compliance for continual benefit eligibility

Louisiana Economic Development (LED) Incentive Programs Serviced (scroll over and click on each program for further explanation)

 

Sumit Credits' personalized A to Z process to Qualify, Pursue and Capture state Tax Credits & Incentives.

  1. Assist Client with securing documentation of eligibility to apply for state programs the projects qualifies for as well as confirm that employment levels have been met allowing Client to participate in the Enterprise Zone Program
  2. Review Client’s existing plans, policies and procedures for compliance with the reporting requirements of the Program
  3. Review fixed asset information to determine the potential refundable Investment Tax Credit and determine which benefit (Sales/Use Tax Rebate vs. refundable Investment Tax Credit) is more beneficial to pursue
  4. Design, for Client review and approval, a Louisiana tax incentive strategy that includes a time-line of anticipated benefits and due dates
  5. Advise Client of the hiring requirements and assist, as requested, with the development of a plan to satisfy the 50% hiring requirements
  6. Review and document health insurance requirements for purposes of qualifying for the Programs
  7. Prepare for Client review and approval the Program’s application for review where such application has yet to be completed
  8. With Client’s written permission, file the Program’s application with the Louisiana Department of Economic Development (“LED”) and appropriate local authorities
  9. Represent Client at the Commerce and Industry Board (CIB) Meeting during the application approval process
  10. If appropriate, represent Client before local planning commission and applicable local counsel during the local application approval process;
  11. Monitor the Louisiana Legislature, the LED, and the Louisiana Board of Commerce and Industry for policy changes which could affect the benefits of this program, and communicate to Client any such potential or actual policy changes
  12. Work with the Louisiana Board of Commerce and Industry, LED, the Louisiana Department of Revenue (“LDOR”), and applicable local governing authorities to help attain final approvals and contracts
  13. If elected, gather and review vendor invoices provided by Client or its contractors for qualifying and non-qualifying expenditures for the Louisiana and local sales tax rebates
  14. If appropriate, organize and maintain copies of the invoice information to establish that every line item on the sales and use tax rebate requests has a corresponding invoice that can be readily accessed and audited;
  15. Prepare for Client review, approval and filing, the four rebate schedules of the Louisiana Department of Revenue Sales Tax Rebate Request and applicable local rebate schedules, or refundable Investment Tax Credit Claim
  16. Assist Client with any state and local sales/use tax appeals, within the 30-day deadline, for items deemed unallowable on the Sales Tax Rebate Requests or address any fixed asset questions on the refundable Investment Tax Credit Claim
  17. Work with Client to track new hires and gather employee information to determine qualifying employees for purposes of the Programs
  18. Document and prepare for Client review and approval the Employee Certification Reports (for the first five years of the EZ contract), Payroll Rebate Requests, Inspection Affidavit and Project Completion Report;
  19. With Client’s written permission, file the Employee Certification Report, the Payroll Rebate Requests, the Inspection Affidavit and Project Completion Report with LED; and
  20. Work with LED to secure final certifications/approvals and file resulting claims with the LDOR to generate the refunds; and work with LDOR on any questions and to expedite the refund process.