Ala. Admin. Code r. 281-3-1-.05

Current through Register Vol. 43, No. 1, October 31, 2024

Section 281-3-1-.05 - Continuing Requirements

(1)Compliance with the Laws of Alabama. Within 60 days of commencing operations in the State of Alabama, a Qualified Production Company shall register with the Secretary of State, comply with all requirements of doing business within the State of Alabama, and must provide written evidence of doing so to the Office before completion of production activities within the State of Alabama on the State-Certified Production.

(2)Filing Alabama Tax Returns. A Qualified Production Company must file any and all tax returns required by the laws of the State of Alabama (e.g., an initial business privilege tax return, as provided by § 40-14A-29, Code of Ala. 1975, or a composite income tax return as provided by the Act and § 40-18-24.2, Code of Ala. 1975, which requires a Qualified Production Company taxed under Subchapter K of the Internal Revenue Code to file a composite income tax return and make a composite income tax payment on behalf of its nonresident owners at the highest marginal tax rate).

(3)Biannual Review. Once production activities on a State-Certified Production have commenced, the Office shall, at least twice during each 12-month period thereafter, at intervals of not less than 5 months, nor greater than 7 months, review the Qualified Production Company's progress towards completion of production activities on the State-Certified Production. If the Office, in its discretion, determines that the Qualified Production Company has not made reasonable progress towards completion of the State-Certified Production, the Office may revoke, or suspend any Incentives for which the project was approved until such time the Qualified Production Company is able to demonstrate reasonable progress.

(4)Completion of Production Activities in Alabama.

(a) Within 60 days of completion of production activities within the State of Alabama on the State-Certified Production, the Qualified Production Company shall return the state sales, use, and lodgings tax exemption certificate to the Department.

(b) Within 60 days of completion of the State-Certified Production, the Qualified Production Company shall provide the Office with a complete list of crew, cast, and vendors employed in the State-Certified Production.

Ala. Admin. Code r. 281-3-1-.05

New Rule: Filed August 13, 2012; effective September 17, 2012.

Amended by Alabama Administrative Monthly Volume XXXIII, Issue No. 05, February 27, 2015, eff. 3/19/2015.

Author: Department of Commerce/Alabama Film Office

Statutory Authority:Code of Ala. 1975, §§ 41-7A-40 through -48.