Res82 RD-82-10 - Laserfiche WebLink

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17.4 Requirement - Nonprofit Organizations. In the case of a nonprofit organization, no payment shall be made under this section unless the Agency determines that: 17.41 The nonprofit organization cannot be relocated without a sub- stantial loss of its existing patronage (the term "existing patronage" as used in connection with the nonprofit organization includes the membership, persons, community, or clientele served or affected by the activities of the nonprofit organi- zation); and, 17.42 The nonprofit organization is not part of an enterprise having at least one other establishment not being acquired which is engaged in the same or similar activity. 17.5 Net Earnings. The term "average annual net earnings" as used in this section means one-half of any net earnings of the business operation, before federal and state income taxes, during the two taxable years immediately preceding the taxable year in which the business or farm operation moves from the real property acquired for such project, or during such other period as the Agency determines to be more equitable for establishing such earnings and includes any compensation paid by the business to the owner, his spouse, or dependent during such period. The term "owner" as used in this section includes the sole proprietor in a sole proprietorship, the principal partners in a pertnership, and the principal stockholders of a corporation, as determined bythe Agency. For purposes of determining a principal stockholder, stock held by a husband, his wife and their dependent children shall be treated as one unit. If a displaced person who conducts a business elects to receive a fixed payment under this section, he shall provide proof of his earnings frc~ ~he business operation to the Agency. Proof of earnings may be