Advanced Transportation and Alternative Sources Manufacturing Sales and Use Tax Exclusion Program (SB 71 Program)
Application Fee: The Applicant must pay an Application Fee to CAEATFA upon submission of the Application.
- The Application Fee shall be equal to 0.0005 (one twentieth of one percent) of the total amount of Qualified Property identified in the Application as originally submitted. If during the Application process, the Applicant reduces the amount of Qualified Property listed in the Application as submitted, the Applicant will not be entitled to a refund of the excess Application Fees paid. If the Applicant makes a request to CAEATFA to increase the amount of Qualified Property listed in a revised or amended Application, CAEATFA will require additional Application Fees to be submitted.
- The minimum Application Fee shall be $250 and shall not exceed $10,000.
- The Application Fee shall be paid in the form of a check payable to CAEATFA.
- The Application Fee is non-refundable.
Administration Fee: The Authority shall charge an Administration Fee to cover the costs associated with the Program, including costs of compliance monitoring.
- The Administration Fee amount shall be calculated as follows:
- The total Administrative Fee amount shall be .004 (four tenths of one percent) of the total amount of the Qualified Property purchased.
- In no case shall the total Administrative Fee be less than $15,000 nor more than $350,000.
- $15,000 of the total Administrative Fee shall be due upon the execution of the Regulatory Agreement between the Applicant and the Authority.
- The balance of an Applicant’s Administrative Fee shall be payable at the time of each subsequent conveyance/reconveyance calculated on that transaction’s Qualified Property purchase amount.
- The initial $15,000 paid by the Applicant at the time of executing the Regulatory Agreement will be credited to the Applicant’s total Administrative Fee upon a determination of the total amount of Qualified Property actually purchased.
- The Administrative Fee shall be paid in checks payable to the Authority.
- The total Administrative Fee is not refundable.