The following transactions or activities shall not create any credits or allow any benefits under the Rural Economic Opportunities Act:

(1) The acquisition of a business which is continued by the taxpayer and which was operated in this state during three hundred sixty-six days prior to the date of application or date of acquisition, whichever is later. All employees of the acquired business during such period shall be considered base-year employees, and the compensation paid during the base year or the year before acquisition, whichever is later, shall be the base-year compensation. Any investment in the acquisition of such business shall be considered as being made before the date of application;

(2) The moving of a business from one location to another when the business was operated in this state during the three hundred sixty-six days prior to the date of application. All employees of the business during such period shall be considered base-year employees;

(3) The purchase or lease of any property which was previously owned by the taxpayer or a related person. The first purchase by either the taxpayer or a related person shall be treated as investment if the property was first placed in service in this state after the date of application;

(4) The renegotiation of any lease in existence on the date of application which does not materially change any of the terms of the lease, other than the expiration date, shall be presumed to be a transaction entered into for the purpose of generating benefits under the act and shall not be allowed in the computation of any benefit or the meeting of any required employment, wages, and investment levels under the agreement;

(5) Any purchase or lease of property from a related person, except that the taxpayer will be allowed any benefits under the act to which the related person would have been entitled on the purchase or lease of the property if the related person was considered the taxpayer; and

(6) Any transaction entered into primarily for the purpose of receiving benefits under the act which is without a business purpose other than the reduction of taxes and does not result in increased economic activity in the state.