Form Int 4 – Fill Out and Use This PDF

FORM

INT-4

12/01

ALABAMA DEPARTMENT OF REVENUE

Notice of Change of Ownership, Interest, or Participation of Interest in Income Tax Capital Credit Project

DEPARTMENT USE ONLY

CONTROL NUMBER

___________________

1. Name:

Address:

	City:	State:	Zip:
	Social Security No. or FEIN:
	Percentage Allocation of Credit:		%
2. Name:
	Address:
	City:	State:	Zip:
	Social Security No. or FEIN:
	Percentage Allocation of Credit:		%

3. Name:

Address:

	City:	State:	Zip:
	Social Security No. or FEIN:
	Percentage Allocation of Credit:		%
4. Name:
	Address:
	City:	State:	Zip:
	Social Security No. or FEIN:
	Percentage Allocation of Credit:		%

GENERAL INSTRUCTIONS

If at any time during the period in which an investing company or companies is qualified for the capital credit, there is change in the company or companies partic- ipating in the qualified project, or a change in the ownership regarding the share- holders, partners, members, owners, or beneficiaries of the investing company or companies, the project entity shall file with the Alabama Department of Revenue on Form INT-4 a complete listing of investing company or companies, or the share- holders, partners, members, owners, or beneficiaries of the investing company or companies entitled to the credit as a result of the change in ownership.

Pursuant to Section 40-18-193(c), Code of Alabama 1975, a change in owner- ship or assignment of interest in any project shall not increase the amount of capi- tal credit available and the purchasers, assignees, or successors of the project or interest herein shall be entitled to the capital credit upon the same conditions and for the same period as the investing company or companies originally entitled to the capital credit.

This form must be filed and completed by the project entity in order for the tax- payer(s) to receive an income tax credit. The form is used to report a change in partnership members, S corporation shareholders, sale of project to another party, or merger into another company. When completed, the form will provide the Alabama Department of Revenue with the name of the current project entity and a complete list of current eligible recipients of the income tax credit for this project. The project number originally assigned by the Alabama Department of Revenue must be indicated.

If you have any questions pertaining to the administration of this form or related to the capital credit in general, please contact the Alabama Department of Revenue at (334) 242-1175. Additional capital credit forms and information can be down- loaded from the Alabama Department of Revenue’s Web site at www.ador. state.al.us under “Tax Incentives.” Mail this completed form to: Alabama Depart- ment of Revenue, ATTN: Capital Credit Program Administrator, P.O. Box 327001, Montgomery, AL 36132-7001.

LINE BY LINE INSTRUCTIONS

Project Number – Enter the project number assigned by the Alabama Department of Revenue when the qualifying project was originally approved. This number must be on all correspondence with the Department pertaining to the cap- ital credit project.

NAICS Code – Enter the North American Industry Classification System (NAICS) code for the new, expanding, small business addition, favored geographic area, or state docks project at which the predominate activity conducted will consti- tute an industrial, warehousing, or research activity as defined in Section 40-18- 190(7). If the qualifying project is a Headquarters Facility, enter 000000.

Act 2001-965, which was signed into law on September 26, 2001, amended the existing income tax capital credit, changing the qualifying Standard Industrial Classification (SIC) codes to the NAICS codes, covering the same types of busi- nesses. Projects that were originally approved using a SIC code must convert to the NAICS code.

Project Location – Enter the address where the project is physically located in Alabama.

Type of Project – Enter the project type as originally filed on Form INT and Form INT-2. The project type will not change throughout the life of the project, regardless of the change of ownership, interest, or participation of interest in the project.

Date Project Was Originally Placed In Service – Enter the original placed in service date of the project as filed on Form INT-2. The capital credit for the qualify- ing project runs for 20 consecutive years from this date.

Actual Project Capital Costs As Originally Filed On Form INT-2 – Enter the amount of actual project costs as filed originally on Form INT-2, line 6. The amount of the annual capital credit available to be applied against the project’s tax liability is determined by multiplying the total actual project capital costs on Form INT-2, line 6, by five percent. This amount will remain constant throughout the 20-year life of the qualifying project.

PROJECT INFORMATION PRIOR TO CHANGE OF OWNERSHIP, INTEREST, OR PARTICIPATION OF INTEREST IN THE PROJECT

Project Entity – Enter the name of the entity that was receiving the capital cred- it prior to the change of ownership, interest, or participation in the project.

Project Name – If the project was identified internally by a project name, enter the project name.

Address – Enter the address to which all correspondence regarding this project was sent prior to the change of ownership, interest, or participation in the project.

FEIN – Enter the Federal Employer Identification Number of the project entity prior to the change of ownership, interest, or participation of interest in the project.

Project Filing Status – Check the filing status of the project entity prior to the change of ownership, interest, or participation of interest in the project.

PROJECT INFORMATION SUBSEQUENT TO CHANGE OF OWNERSHIP,

INTEREST, OR PARTICIPATION OF INTEREST IN THE PROJECT

Effective date of the change of Ownership, Interest, or Participation of Interest in Project – Enter the date the change of ownership, interest, or partici- pation of interest in the project occurred. Please include month, day, and year.

Description of the change – Enter the type of change that occurred, i.e., change of ownership, sale of project to another party, merger into another compa- ny, change in legal entity, change of participation of interest in project for the mem- bers, shareholders, or partners. Please be very detailed.

Project Entity – Enter the name of the entity that will be receiving the capital credit subsequent to the change of ownership, interest, or participation of interest in the project. The entity qualifying for the capital credit must be the entity meeting the requirements for the capital credit. If the qualifying project is a joint venture, the joint venture must be in the form of a legal entity.

Single Member Limited Liability Companies (“SMLLC”) will be classified as they are classified for federal income tax purposes under the Internal Revenue Service’s (IRS) “check-the-box” regulations. If the investing company is a SMLLC that elects to be treated as a corporation for federal income tax purposes, enter the SMLLC as the project entity. If the investing company is a SMLLC that does not “check-the- box” for federal income tax purposes, the SMLLC shall be treated as a disregarded entity for Alabama income tax purposes and the parent must be entered as the pro- ject entity.

Qualified Subchapter S Subsidiaries (Q-subs) under 26 U.S.C. Section 1361(b)(3) shall be treated as disregarded entities for Alabama income tax purpos- es. If the investing company is a Q-sub, the parent must be entered as the project entity.

Project Name – If the project is identified internally by a project name, enter the project name. For example, ABC, Inc. is the project entity, but the project is known as Alpha Division. If the project is doing business as (dba), enter the dba name. If the project entity has more than one qualifying project for the capital credit, include a project name that can identify each project. If the qualifying project is a SMLLC treated as a disregarded entity for tax purposes, enter the name of the SMLLC as the project name. If the qualifying project is a Q-sub, enter the name of the Q-sub as the project name.

Address – Enter the address to which all correspondence regarding this project should be sent subsequent to the change of ownership, interest, or participation in the project.

FEIN – Enter the Federal Employer Identification Number of the project entity subsequent to the change of ownership, interest, or participation in the project.

Project Filing Status – Check the filing status the project entity will be subse- quent to the change of ownership, interest, or participation of interest in the project.

Contact Person – Enter the name of the person to be contacted if additional information is needed regarding the capital credit and to whom all correspondence for the capital credit will be sent. Include a telephone number if different from the number indicated above.

Current Allocations of Capital Credit – List all participants of the project enti- ty to receive the capital credit subsequent to the change of ownership, interest, or participation of interest in project. Include the entities’ names, addresses, social security numbers or federal employer identification numbers, and percentage of credit allocated to each entity or participant. This list will serve as the agreement between the Alabama Department of Revenue and the investing company or com- panies specifying the allocation and treatment of the capital credit provided by Section 40-18-190 et. seq. and Section 40-18-203 et. seq., Code of Alabama 1975.

The capital credit shall be allocated among the shareholders, partners, mem- bers, owners, or beneficiaries of the investing company or companies entitled to the capital credit based on their distributive share, whether or not distributed, of the pro- ject’s Alabama taxable apportionable income. If an investing company or partici- pant is not listed on this schedule, the capital credit will be disallowed.

Attach additional sheets if necessary.