Subject: Revised Guidelines for Renewable Energy Tax Credit
Tax: Franchise Tax, Income Tax, and Gross Premiums Tax
Law: Chapter 105, Article 3B (G.S. 105-129.15 through 105-129.19)
Issued By: Personal Taxes Division
Date: December 4, 2000
The 1999 session of the General Assembly repealed the various renewable energy
tax credits in the corporation and individual income tax laws and recodified
those provisions into one credit for investing in renewable energy property.
The credit is recodified as part of Article 3B of Chapter 105 of the North Carolina
General Statutes and may now be claimed against franchise tax, income tax, or
gross premiums tax. These changes were effective for taxable years beginning
on or after January 1, 2000.
The document, Guidelines for Determining
the Income Tax Credit for Solar Energy Equipment, dated April 5, 1996, has
been revised to reflect the law changes and has been renamed Guidelines for
Determining the Tax Credit for Investing in Renewable Energy Property.
The revised document is available on the Department's website at www.dor.state.nc.us.
A copy of the document may also be obtained by calling the Personal
Taxes Division of the North Carolina Department of Revenue at
(919) 733-3565 or by writing to the Division at P.O. Box 871,
Raleigh, N. C. 27602-0871.
Last modified on:
10/31/07 03:37:03 PM.