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2011 Economic Incentives ReportClick on links to go to taxpayer-detail reports.
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Reports of Credits Taken or Refunds Claimed |
Number of Taxpayers |
Credits Taken/ Refunds Claimed |
Sunset for Generating Credits or Refundable Purchases |
Number of Installments |
Carry-forward Years |
Statute |
DOR Tax Forms Required |
|---|---|---|---|---|---|---|---|
| Creating Jobs (Article 3A) | 388 |
9,853,937 |
January 1, 2007 |
4 |
5 |
§ 105-129.8 |
NC-478; NC-478A |
| Machinery and Equipment Investment (Article 3A) | 787 |
40,026,406 |
January 1, 2007 |
7 |
5 |
§ 105-129.9 |
NC-478; NC-478B |
| Research and Development (Article 3A) | 101 |
5,447,693 |
January 1, 2007 |
NA |
15 |
§ 105-129.10 |
NC-478 |
| Worker Training (Article 3A) | 23 |
255,744 |
January 1, 2007 |
NA |
5 |
§ 105-129.11 |
NC-478; NC-478E |
| Investing in Central Office or Aircraft Facility (Article 3A) | 27 |
793,657 |
January 1, 2007 |
7 |
5 |
§ 105-129.12 |
NC-478 |
| Technology Commercialization (Article 3A) | 11 |
9,614 |
January 1, 2007 |
NA |
20 |
§ 105-129.9A |
NC-478 |
| Substantial Investment in Other Property (Article 3A) | 4 |
458,557 |
January 1, 2007 |
NA |
20 |
§ 105-129.12A |
NC-478 |
| Development Zone Projects (Article 3A) | 0 |
0 |
January 1, 2007 |
NA |
20 |
§ 105-129.13 |
NC-478 |
| Business Property (Article 3B) | 1,982 |
1,766,897 |
January 1, 2002 |
5 |
5 |
§ 105-129.16 |
NC-478 |
| Renewable Energy Property (Article 3B) | 929 |
5,232,172 |
January 1, 2016 |
5 for nonresidential |
5 |
§ 105-129.16A |
NC-478; NC-478G |
| Non-Hazardous Dry-Cleaning (Article 3B) | 0 |
0 |
January 1, 2006 |
NA |
5 |
§ 105-129.16C |
NC-478 |
| Constructing Renewable Fuel Facilities (Article 3B) | 13 |
50,919 |
January 1, 2013 |
7 |
5 |
§ 105-129.16D |
NC-478 |
| Small Business Employee Health Insurance (Article 3B) | 6,443 |
3,656,202 |
January 1, 2010 |
NA |
5 |
§ 105-129.16E |
NC-478 |
| Biodiesel Producers (Article 3B) | 6 |
108,833 |
January 1, 2013 |
NA |
5 |
§ 105-129.16F |
NC-478 |
| Work Opportunity (Article 3B) | 286 |
2,067,240 |
January 1, 2012 |
NA |
5 |
§ 105-129.16G |
NC-478 |
| Donating Funds to Non-Profit Organization (Article 3B) | 7 |
3,146 |
None |
NA |
5 |
§ 105-129.16H |
NC-478 |
| Investing in Large or Major Recycling Facility (Article 3C) | 1 |
725,238 |
None |
NA |
25 |
§ 105-129.27 |
CD-425 |
| Historic Rehabilitation (Article 3D): | |||||||
Income-Producing Property |
256 |
5,143,449 |
January 1, 2014 |
5 |
5 |
§ 105-129.35 |
D-400TC or CD-425 |
Non-Income-Producing Property |
536 |
6,614,016 |
January 1, 2014 |
5 |
5 |
§ 105-129.36 |
D-400TC or CD-425 |
| Low-Income Housing (Article 3E): | |||||||
| Awarded a Federal Credit Allocation before Jan. 1, 2003 |
20 |
7,822,284 |
January 1, 2015 |
5 |
5 |
§ 105-129.41 |
NC-478; NC-478H |
| Awarded a Federal Credit Allocation on or after Jan. 1, 2003 |
31 |
35,430,731 |
January 1, 2015 |
NA |
NA |
§ 105-129.42 |
None/ Notification from NC Housing Finance Agency |
| Research and Development (Article 3F) | 514 |
18,863,397 |
None |
NA |
15 |
§ 105-129.55 |
NC-478; NC-478I |
| Computer Manufacturing (Article 3G) | 1 |
141,984 |
July 1, 2010 |
NA |
25 |
§ 105-129.64 |
CD-425 |
| Mill Rehabilitation (Article 3H): | |||||||
| Income-Producing Property |
25 |
1,221,436 |
January 1, 2014 |
NA |
9 |
§ 105-129.71 |
D-400TC or CD-425 |
| Non-Income-Producing Property |
34 |
397,997 |
January 1, 2014 |
5 |
9 |
§ 105-129.72 |
D-400TC or CD-425 |
| Creating Jobs (Article 3J) | 177 |
2,182,538 |
January 1, 2013 |
4 |
5 |
§ 105-129.87 |
NC-478; NC-478J |
| Investing in Business Property (Article 3J) | 252 |
11,352,905 |
January 1, 2013 |
4 |
5 |
§ 105-129.88 |
NC-478; NC-478K |
| Investing in Real Property (Article 3J) | 5 |
724,921 |
January 1, 2013 |
7 |
15 |
§ 105-129.89 |
NC-478; NC-478L |
| Railroad Intermodal Facility (Article 3K) | 0 |
0 |
January 1, 2038 |
NA |
10 |
§ 105-129.96 |
NC-478 |
| NC State Ports Authority Charges | 37 |
431,690 |
January 1, 2014 |
NA |
5 |
§ 105-130.41 & § 105-151.22 |
NC-478 |
| Cigarette Exportation | 1 |
6,000,000 |
January 1, 2018 |
NA |
10 |
§ 105-130.45 |
NC-478 |
| Cigarette Exportation while Increasing Employment | 1 |
6,000,000 |
January 1, 2018 |
NA |
10 |
§ 105-130.46 |
NC-478 |
| Film Production | 10 |
2,389,178 |
January 1, 2014 |
NA |
NA |
§ 105-130.47 & § 105-151.29 |
NC-415 |
| Economic Incentive Refunds (Sales & Use Tax) (§ 105-164.14A.): | |||||||
| Passenger Air Carrier |
1 |
4,757,023 |
January 1, 2011 |
NA |
NA |
§ 105-164.14A.(a)(1) |
E-588B |
| Major Recycling Facility |
1 |
291,027 |
None |
NA |
NA |
§ 105-164.14A.(a)(2) |
E-585S |
Business in Low-Tier Area |
9 |
63,285 |
same as Article 3J |
NA |
NA |
§ 105-164.14A.(a)(3) |
E-585S |
| Motorsports Team or Sanctioning Body |
5 |
38,111 |
January 1, 2011 |
NA |
NA |
§ 105-164.14A.(a)(4) |
E-588A |
| Professional Motorsports Team |
11 |
287,205 |
January 1, 2014 |
NA |
NA |
§ 105-164.14A.(a)(5) |
E-585S |
| Analytical Services Business |
1 |
120,803 |
January 1, 2013 |
NA |
NA |
§ 105-164.14A.(a)(6) |
E-588D |
| Railroad Intermodal Facility |
0 |
0 |
January 1, 2038 |
NA |
NA |
§ 105-164.14A.(a)(7) |
E-585S |
| Certain Industrial Facilities Refunds (Sales & Use Tax) | 2 |
682,309 |
January 1, 2013 |
NA |
NA |
§ 105-164.14B. |
E-585S |
| 2009 Sales & Use Refunds Supplement - Detail | 6 |
309,572 |
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Reports of Credits Generated |
Number of Taxpayers |
Credits Generated |
|---|---|---|
| Article 3A Credits Generated by Taxpayer | ||
1 |
115,000 |
|
4 |
159,831 |
|
| Other Article 3A Credits Generated by Taxpayer | 21
|
839,369 |
| Article 3A Summary of Credits Generated | ||
| Article 3J Credits Generated by Taxpayer | ||
73 |
15,217,750 |
|
192 |
65,917,291 |
|
2 |
263,766 |
|
NOTES
Exceptions to Article 3A sunsets:
(1) extension of sunset to Jan. 1, 2008 for taxpayers who submit a letter of commitment to create jobs or make new investments to the Department of Commerce.
(2) extension of sunset to Jan. 1, 2010 for an interstate air courier that has a real estate lease of at least 100 acres for a term in excess of 15 years.
(3) extension of sunset to Jan. 1, 2010 for a taxpayer that qualifies as an eligible major industry.
(4) extension of sunset to Jan. 1, 2010 for certain taxpayers located in a Development Zone.
Exceptions to Article 3A carryforwards: large investments can have 20 years of carryforwards; taxpayers who invest at least $50 million in real property, machinery and equipment, or central office or aircraft facility property can have 10 years.
Exception for Article 3J carryforward: If the Secretary of Commerce certifies that the taxpayer's investment will exceed $150 million, carryforwards may be taken for 20 years.
For Article 3A and Article 3J, installments begin in the year after the credit was generated.
Sunset dates for S&U economic incentive refunds indicate the initial date for which purchases are deemed ineligible for refund.
The estimates of credits taken do not include the effect of G.S. 105-130.5(a)(10). This provision effectively increases the income tax liability of corporations by the amount of credit multiplied by the tax rate (6.9%).
Last modified on: 04/30/12 03:12:13 PM .
