Documents Needed:
- Projected Investments of “real” and “personal” property related to the project that the applicant will purchase or lease after the deadline to submit an application during the application period- Costs or value of the proposed investments. While costs are not broken out in Phase I, the applicant will be asked for a breakdown of investment expenditures in Phase II (if the application is moved to the second evaluation phase)
Key Definitions:
Investment - The amount paid for “real” and “personal” property directly related to the project.Real Property - Any property located in this state that is attached directly to land, as well as the land itself. It includes, but is not limited to all, land, structures, firmly attached and integrated equipment, anything growing on the land, and all other “interests” in the property which may be the right to future ownership, right to occupy for a period of time, or an easement across another's property. Real property also includes capitalized costs related to new construction, reconstruction, or expansion of buildings or structures which will be used in the applicant's trade or business in connection with the project and are subject to depreciation.
Personal Property - Property that is tangible, movable property, including, but not limited to, vehicles, movable fixtures, equipment, electronic devices, intangible property, including, but not limited to, software licenses, intellectual property acquired in connection with the project that has a quantifiable value, and other business assets which are subject to depreciation.
List the total amount of investments in real and personal property for the applicant’s current tax year and 4 subsequent tax years. Please keep in mind that applicants should not include:
1) Investments made prior to the application submission deadline and
2) Investments which the applicant already committed to in a previously approved California Competes Tax Credit agreement (for applicants that have previously been awarded a credit under this program).
Please list for each tax year the amount of investments directly related to the project. Directly related means actions or purchases made in connection with the project that would not have been otherwise purchased or incurred but for the project.
The aggregate investment for all 5 tax years is automatically calculated at the end of the section.
