The application date is the last day on which information necessary to complete the application is filed. The base year from which investment and employment growth is calculated will change when an incomplete application filed near the end of a tax year is not completed until after the start of the following year. The Department will contact the applicant within fifteen business days of the receipt of an application if additional information is required (see Revenue Ruling 29-03-1).
EXAMPLE: An application is filed December 13, 2006 that is not complete. The additional information is not provided until January 4, 2007. The applicant's tax year end is December 31, 2006. The increases will be measured against the 2006 levels of employment and investment rather than the 2005 levels because the date of the application was January 4, 2007. |