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04-14-14 Council Agenda & Packet
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04-14-14 Council Agenda & Packet
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4/24/2014 11:56:22 AM
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4/24/2014 11:45:02 AM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
4/14/2014
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We have reviewed our prior actions relating to the designation of this soonomlc revitalization area and find that the applicant meets the general standards <br />adapted in the resolution previously approved by this body, Said resolution, passed under IC 61.1- 12.1 -2.5, provides for the following limitations as <br />authorized under IC 6.1.1- 12.1 -2. <br />A . The designated area has been limited to a period or time not to exceed calendar years • (see below). The date this designation expires <br />B. The type of deduction that Is allowed in the designated area Is limited to: ❑ <br />1. Installation of new manufacturing equipment; ❑Yes N o <br />2. Installation of new research and development equipment; []Yes ❑ N o <br />3. Installation of new logistical distribution equipment. Oyes ❑ N o <br />4. Installation of new information technology equipment; ❑Yes [3 N o <br />C. The amount of deduction applicable to new manufacturing equipment Is limited to $ cost with an assessed value of <br />D. The amount of deduction applicable to new research and development equipment Is limited to $ _ cost <br />with an assessed value of $ ` <br />E . The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of <br />F. The amount of deduction applicable to new Information technology equipment Is limited to $ cost with an assessed value of <br />G Other limitations or conditions <br />H. The deduction for new manufacturing equipment and /or new research and development equipment and /or new logistical distribution equipment and /or <br />new Information technology equipment installed and first claimed eligible for deduction on or after July 1, 2000, is allowed for: <br />❑ 1 year <br />❑ 6 years •• For ERA's established prior to July 1, 2000, 20y a <br />❑2 years <br />❑ 7 years 5 or 10 year schedule may be deducted. <br />❑3 years <br />❑3 years <br />04 years <br />❑ 9 years <br />❑ 5 years •` <br />❑ 10 years " <br />Also we have reviewed the information comamed In the statement of benefits and find that the estimates and expectations are reasonable and have <br />determined that the totality or benefits is sufficient to Jusi ly the deduction described above. <br />Telephone <br />M <br />Deb dgned (month. <br />• 0 the designating botly limits the time period during which an area Is an economic revitalization area, a does not limit the length of time a taxpayer Is <br />englied to receive a deduction to a number of years designated under IC 6-1.1- 12.11.5 <br />
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