Tennessee Tennessee Enhanced Industrial Machinery Credit

Tennessee Enhanced Industrial Machinery Credit
IMC_Business_Plan_April_2017
TENNESSEE DEPARTMENT OF REVENUE
FRANCHISE AND EXCISE TAX
ENHANCED INDUSTRIAL MACHINERY CREDIT BUSINESS PLAN
Taxpayer Name

FEIN

Account Number

Mailing Address

City, State, Zip

1. Capital Investment
Investment Period Begin Date

Investment Period End Date

Amount of Required Capital Investment

North American Industry Classification System Code (NAICS)

2. Investment Level (Check the box next to the level of credit for which you are applying)
 (a) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(3)(I)(iv) [Minimum investment of one hundred million
dollars ($100,000,000).]
 (b) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(3)(I)(iii) [Minimum investment of two hundred fifty
million dollars ($250,000,000).]
 (c) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(3)(I)(ii) [Minimum investment of five hundred million
dollars ($500,000,000).]
 (d) Enhanced Industrial Machinery Credit per T.C.A. Section 67-4-2009(4)(I(i) [Minimum investment of one billion dollars
($1,000,000,000).]

3. Description of Principal Business Activity:

4. Description of Investment:

The statements made on this business plan are true to the best of my
knowledge and belief. (Must be signed by the taxpayer.)

SIGN HERE:
Signature and Date
Title
RV-F1319301

Phone No.

Control No.
FOR DEPARTMENT OF REVENUE USE ONLY
INTERNET (4-17)

FRANCHISE AND EXCISE TAX
ENHANCED INDUSTRIAL MACHINERY CREDIT BUSINESS PLAN INSTRUCTIONS
Who must file
A qualified business enterprise must file this business
plan in order to qualify for the Industrial Machinery
credit at a rate greater than the standard one percent
(1%) as provided by Tenn. Code Ann. Section 67-42009(3)(I).
When to file
The business plan must be filed and approved before
a higher rate of industrial machinery credit can be
taken on the franchise and excise tax return.
Completing the Business Plan
Provide the complete legal name of the taxpayer,
mailing address, FEIN, and franchise and excise tax
account number. If the entity making the investment
is a disregarded single member Limited Liability
Company whose single member is a corporation, the
entity indicated on the business plan should be the
corporate member since it is the taxpayer for
franchise and excise tax purposes.
1) Capital Investment
Investment period:
The period during which
investment will be made, provided that it does not
exceed 3 years.
Purchases made outside the
investment period do not qualify for the higher rate.
The investment period may be extended under
certain circumstances upon request to the
Commissioner of Economic and Community
Development.
Amount of required capital investment:
The
amount of investment to be made in real property,
tangible personal property, or computer software
owned or leased in Tennessee and valued in
accordance with GAAP. The capital investment is
deemed to have been made as of the date of
payment or the date the business enterprise enters
into a legally binding commitment or contract for
purchase or construction.

2) Investment Level: The rate of credit is graduated
based on the amount of the investment. Check the
box to indicate the level for which you are applying. If
the actual investment falls into a different level, an
amended business plan must be filed and the credit
applied at the corrected rate. The applicable rates are
as follows:
Minimum Investment
$100,000,000
$250,000,000
$500,000,000
$1,000,000,000

Rate of Credit
3%
5%
7%
10%

3) Principal Business Activity: Briefly describe the
principal business activity of the taxpayer as a whole
and of the facility where the investment is being
made.
4) Description of Investment: Briefly describe the
Investment being made.
Mail the completed Business Plan to:
Tennessee Department of Revenue
P.O. Box 190644
Nashville, TN 37219-0644
For tax assistance call (800) 397-8395 in Tennessee, or
if you are located in the Nashville call area or out-ofstate, call (615) 253-0700. For industrial recruitment
information, call the Department of Economic and
Community Development at (615) 741-3282 in
Tennessee or (800) 251-8594 from outside Tennessee.