North Carolina Department of Revenue
XIII. TAX CREDITS FOR QUALIFIED BUSINESS INVESTMENTS
G.S. 105-163.010(2) - Clarifying Change: This subdivision
was amended to add a limited liability company to the list of entities included
in the definition of business.
(Effective December 15, 1999; SB 835, s. 5.6, S.L. 99-369.)
G.S. 105-163.011 - Technical Change: This statute was amended
to change the word "Division" to "Part" to conform with redesignations enacted
by the 1998 session of the General Assembly.
(Effective July 22, 1999; SB 55, s. 27, S.L. 99-337.)
G.S. 105-163.013(f) - Conforming Changes: This subsection
was amended to make two changes. The first change adds a reference to conversions,
so that transfers as a result of a conversion do not trigger the requirement
of a new registration with the Secretary of State. This change was made to reflect
changes made in the business laws concerning mergers, conversions, and consolidations.
The second change deletes a reference to "corporation" and replaces it with
a reference to "company." This change was made to reflect the fact that the
surviving business can be something other than a corporation, such as a partnership
or a limited liability company.
(Effective December 15, 1999; SB 835, s. 5.7, S.L. 99-369.)
G.S. 105-163.014(d)(1) - Conforming Changes: This subdivision
was amended to make two changes. The first change adds a reference to conversions,
so that transfers of securities as a result of a conversion do not trigger forfeiture
of the credit. This change was made to reflect changes made in the business
laws concerning mergers, conversions, and consolidations. The second change
deletes a reference to "shareholders" and replaces it with a reference to "owners."
This change was made to reflect the fact that an affected business can be something
other than a corporation, such as a partnership or a limited liability company.
(Effective December 15, 1999; SB 835, s. 5.8, S.L. 99-369.)
Last modified on:
10/31/07 03:37:12 PM.
|
|