Section 280-RICR-20-20-1.1 - Authority and PurposeA. Effective January 1, 1998 the investment tax credit statute (R.I. Gen. Laws Chapter 44-31 ) was extended to provide a ten percent (10%) tax credit to manufacturers and certain non-manufacturers ("qualified taxpayers") which meet statutorily defined criteria. The investment tax credit was further extended on June 30, 1999 to provide the ten percent (10%) tax credit to property having a situs in Rhode Island however acquired by "qualified taxpayers" which are property and casualty insurance companies.B. The investment tax credit was increased from four percent (4%) to ten percent (10%) with respect to buildings and structural components which are acquired, constructed, reconstructed or erected after July 1, 2001 for "high performance manufacturers".C. This regulation is set out in two (2) parts. The first part of the regulation deals with manufacturers that meet the criteria for the four percent (4%) tax credit. The second part of the regulation deals with manufacturers and non-manufacturers which meet the statutory criteria for the ten percent (10%) tax credit.D. In general, provisions applicable to manufacturers in § 1.2 of this Part are deemed applicable to "qualified taxpayers" in § 1.3 of this Part unless law or regulations in § 1.2 of this Part mandate otherwise.E. Documentation and Information Required 1. Taxpayers seeking credit as "manufacturers or qualified taxpayers" must complete the Form RI-3468 and must attach copies of calculations and documents evidencing satisfaction of the special criteria required for "qualified taxpayers" including but not limited to letters documenting training expenses from the Human Resource Investment Council, documenting wage information from the Rhode Island Department of Labor and Training, and calculations pertaining to wages or gross revenues.280 R.I. Code R. § 280-RICR-20-20-1.1