reglab/statecodes huggingface dataset:
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3B - Business and Energy Tax Credits. › § 105-129.16J - Temporary unemployment insurance refundable tax credit.

§ 105-129.16J. Temporary unemployment insurance refundable tax credit.
(a) Credit. – A small business that makes contributions during the taxable year to the State Unemployment Insurance Fund with respect to wages paid for employment in this State is allowed a credit equal to twenty-five percent (25%) of the contributions. A small business is a business whose cumulative gross receipts from business activity for the taxable year do not exceed one million dollars ($1,000,000).
(b) Refundable. – Notwithstanding G.S. 105-129.17, the credit allowed by this section is subject to the following:
(1) The credit may only be claimed against the income taxes imposed by Article 4 of this Chapter.
(2) If the credit exceeds the amount of tax imposed by Article 4 of this Chapter for the taxable year reduced by the sum of all credits allowable, the excess is refundable. The refundable excess is governed by the provisions governing a refund of an overpayment by the taxpayer of the tax imposed in that Article. In computing the amount of tax against which multiple credits are allowed, nonrefundable credits are subtracted before refundable credits.
(c) Applicability. – This section applies only to taxable years 2010 and 2011. (2010-31, s. 31.1A(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3B - Business and Energy Tax Credits. › § 105-129.17 - Tax election; cap.

§ 105-129.17. Tax election; cap.
(a) Tax Election. – The credit allowed in G.S. 105-129.16A is allowed against the franchise tax levied in Article 3 of this Chapter, the income taxes levied in Article 4 of this Chapter, or the gross premiums tax levied in Article 8B of this Chapter. All other credits allowed in this Article are allowed against the franchise tax levied in Article 3 of this Chapter or the income taxes levied in Article 4 of this Chapter. The taxpayer must elect the tax against which a credit will be claimed when filing the return on which the first installment of the credit is claimed. This election is binding. Any carryforwards of a credit must be claimed against the same tax.
(b) Cap. – The credits allowed in this Article may not exceed fifty percent (50%) of the tax against which they are claimed for the taxable year, reduced by the sum of all other credits allowed against that tax, except tax payments made by or on behalf of the taxpayer. This limitation applies to the cumulative amount of credit, including carryforwards, claimed by the taxpayer under this Article against each tax for the taxable year. Any unused portion of the credits may be carried forward for the succeeding five years. (1996, 2nd Ex. Sess., c. 13, s. 3.12; 1997-277, s. 3; 1999-342, s. 2; 1999-360, ss. 1, 13; 2000-140, ss. 63(a), 88; 2001-431, s. 3; 2002-87, s. 5; 2009-548, s. 3.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3B - Business and Energy Tax Credits. › § 105-129.18 - (See Editor's note for repeal) Substantiation.

§ 105-129.18. (See Editor's note for repeal) Substantiation.
To claim a credit allowed by this Article, the taxpayer must provide any information required by the Secretary of Revenue. Every taxpayer claiming a credit under this Article must maintain and make available for inspection by the Secretary of Revenue any records the Secretary considers necessary to determine and verify the amount of the credit to which the taxpayer is entitled. The burden of proving eligibility for a credit and the amount of the credit rests upon the taxpayer, and no credit may be allowed to a taxpayer that fails to maintain adequate records or to make them available for inspection. (1996, 2nd Ex. Sess., c. 13, s. 3.12; 1997-277, s. 3; 1999-342, s. 2; 1999-360, ss. 1, 14; 2000-140, ss. 63(b), 88.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3B - Business and Energy Tax Credits. › § 105-129.19 - Report.

§ 105-129.19. Report.
The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by credit and by taxpayer:
(1) The number of taxpayers that took the credits allowed in this Article.
(2) The cost of renewable energy property with respect to which credits were taken.
(2a) Repealed by Session Laws 2002-87, s. 6, effective August 22, 2002.
(3) The total cost to the General Fund of the credits taken. (1996, 2nd Ex. Sess., c. 13, s. 3.12; 1997-277, s. 3; 1999-342, s. 2; 1999-360, ss. 1, 15; 2000-140, ss. 63(c), 88; 2001-414, s. 10; 2002-87, s. 6; 2005-429, s. 2.3; 2010-166, s. 1.2.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3C - Tax Incentives for Recycling Facilities. › § 105-129.25 - Definitions.

§ 105-129.25. Definitions.
The following definitions apply in this Article:
(1) Reserved.
(2) Reserved.
(3) Repealed by Session Laws 2010-166, s. 2.1, effective July 1, 2010.
(4) Machinery and equipment. – Engines, machinery, tools, and implements used or designed to be used in the business for which the credit is claimed. The term does not include real property as defined in G.S. 105-273 or rolling stock as defined in G.S. 105-333.
(5) Major recycling facility. – A recycling facility that qualifies under G.S. 105-129.26(a).
(6) Owner. – A person who owns or leases a recycling facility.
(7) Post-consumer waste material. – Any product that was generated by a business or consumer, has served its intended end use, and has been separated from the solid waste stream for the purpose of recycling. The term includes material acquired by a recycling facility either directly or indirectly, such as through a broker or an agent.
(8) Purchase. – Defined in section 179 of the Code.
(9) Recycling facility. – A manufacturing plant at least three-fourths of whose products are made of at least fifty percent (50%) post-consumer waste material measured by weight or volume. The term includes real and personal property located at or on land in the same county and reasonably near the plant site and used to perform business functions related to the plant or to transport materials and products to or from the plant. The term also includes utility infrastructure and transportation infrastructure to and from the plant. (1998-55, s. 12; 2010-166, s. 2.1.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3C - Tax Incentives for Recycling Facilities. › § 105-129.27 - Credit for investing in major recycling facility.

§ 105-129.27. Credit for investing in major recycling facility.
(a) Credit. – An owner that purchases or leases machinery and equipment for a major recycling facility in this State during the taxable year is allowed a credit equal to fifty percent (50%) of the amount payable by the owner during the taxable year to purchase or lease the machinery and equipment.
(b) Taxes Credited. – The credit provided in this section is allowed against the franchise tax levied in Article 3 of this Chapter and the income tax levied in Part 1 of Article 4 of this Chapter. Any other nonrefundable credits allowed the owner are subtracted before the credit allowed by this section.
(c) Carryforwards. – The credit provided in this section may not exceed the amount of tax against which it is claimed for the taxable year, reduced by the sum of all other credits allowed against that tax, except tax payments made by or on behalf of the owner. Any unused portion of the credit may be carried forward for the succeeding 25 years.
(d) Change in Ownership of Facility. – The sale, merger, consolidation, conversion, acquisition, or bankruptcy of a recycling facility, or any transaction by which the facility is reformulated as another business, does not create new eligibility in a succeeding owner with respect to a credit for which the predecessor was not eligible under this section. A successor business may, however, take any carried-over portion of a credit that its predecessor could have taken if it had a tax liability.
(e) Forfeiture. – If any machinery or equipment for which a credit was allowed under this section is not placed in service within 30 months after the credit was allowed, the credit is forfeited. A taxpayer that forfeits a credit under this section is liable for all past taxes avoided as a result of the credit plus interest at the rate established under G.S. 105-241.21, computed from the date the taxes would have been due if the credit had not been allowed. The past taxes and interest are due 30 days after the date the credit is forfeited; a taxpayer that fails to pay the past taxes and interest by the due date is subject to the penalties provided in G.S. 105-236.
(f) No Double Credit. – A recycling facility that is eligible for the credit allowed in this section is not allowed the credit for investing in machinery and equipment provided in G.S. 105-129.9 or G.S. 105-129.88. (1998-55, s. 12; 1999-369, s. 5.3; 2007-491, s. 44(1)a; 2009-445, s. 3(a); 2010-166, s. 2.1.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3D - Historic Rehabilitation Tax Credits. › § 105-129.35 - (See note for repeal) Credit for rehabilitating income-producing historic structure.

§ 105-129.35. (See note for repeal) Credit for rehabilitating income-producing historic structure.
(a) Credit. – A taxpayer who is allowed a federal income tax credit under section 47 of the Code for making qualified rehabilitation expenditures for a certified historic structure located in this State is allowed a credit equal to twenty percent (20%) of the expenditures that qualify for the federal credit. If the certified historic structure is a facility that at one time served as a State training school for juvenile offenders, the amount of the credit is equal to forty percent (40%) of the expenditures that qualify for the federal credit. To claim the credit allowed by this subsection, the taxpayer must provide a copy of the certification obtained from the State Historic Preservation Officer verifying that the historic structure has been rehabilitated in accordance with this subsection.
(b) Notwithstanding the provisions of G.S. 105-131.8 and G.S. 105-269.15, a pass-through entity that qualifies for the credit provided in this section may allocate the credit among any of its owners in its discretion as long as an owner's adjusted basis in the pass-through entity, as determined under the Code, at the end of the taxable year in which the certified historic structure is placed in service, is at least forty percent (40%) of the amount of credit allocated to that owner. Owners to whom a credit is allocated are allowed the credit as if they had qualified for the credit directly. A pass-through entity and its owners must include with their tax returns for every taxable year in which an allocated credit is claimed a statement of the allocation made by the pass-through entity and the allocation that would have been required under G.S. 105-131.8 or G.S. 105-269.15.
(c) Definitions. – The following definitions apply in this section:
(1) Certified historic structure. – Defined in section 47 of the Code.
(2) Pass-through entity. – Defined in G.S. 105-228.90.
(3) Qualified rehabilitation expenditures. – Defined in section 47 of the Code.
(4) State Historic Preservation Officer. – Defined in G.S. 105-129.36. (1993, c. 527, ss. 1, 2; 1997-139, ss. 1, 2; 1998-98, ss. 36, 69; 1999-389, ss. 2, 5, 6; 2001-476, s. 19(a); 2003-284, s. 35A.1; 2003-415, ss. 1, 2; 2003-416, s. 4(c); 2004-170, s. 14; 2006-40, s. 2; 2007-461, s. 1.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3D - Historic Rehabilitation Tax Credits. › § 105-129.36 - (See note for repeal) Credit for rehabilitating nonincome-producing historic structure.

§ 105-129.36. (See note for repeal) Credit for rehabilitating nonincome-producing historic structure.
(a) Credit. – A taxpayer who is not allowed a federal income tax credit under section 47 of the Code and who makes rehabilitation expenses for a State-certified historic structure located in this State is allowed a credit equal to thirty percent (30%) of the rehabilitation expenses. If the certified historic structure is a facility that at one time served as a State training school for juvenile offenders, the amount of the credit is equal to forty percent (40%) of the expenditures that qualify for the federal credit. To qualify for the credit, the taxpayer's rehabilitation expenses must exceed twenty-five thousand dollars ($25,000) within a 24-month period. To claim the credit allowed by this subsection, the taxpayer must provide a copy of the certification obtained from the State Historic Preservation Officer verifying that the historic structure has been rehabilitated in accordance with this subsection.
(b) Definitions. – The following definitions apply in this section:
(1) Certified rehabilitation. – Repairs or alterations consistent with the Secretary of the Interior's Standards for Rehabilitation and certified as such by the State Historic Preservation Officer.
(2) Rehabilitation expenses. – Expenses incurred in the certified rehabilitation of a certified historic structure and added to the property's basis. The term does not include the cost of acquiring the property, the cost attributable to the enlargement of an existing building, the cost of sitework expenditures, or the cost of personal property.
(3) State-certified historic structure. – A structure that is individually listed in the National Register of Historic Places or is certified by the State Historic Preservation Officer as contributing to the historic significance of a National Register Historic District or a locally designated historic district certified by the United States Department of the Interior.
(4) State Historic Preservation Officer. – The Deputy Secretary of Archives and History or the Deputy Secretary's designee who acts to administer the historic preservation programs within the State.
(c) Recodified as G.S. 105-129.36A by Session Laws 2003-284, s. 35A.2, effective July 15, 2003. (1993, c. 527, ss. 1, 2; 1997-139, ss. 1, 2; 1998-98, ss. 36, 69; 1999-389, ss. 3, 5, 6; 2002-159, s. 35(e); 2003-284, ss. 35A.2, 35A.3; 2006-40, ss. 3, 4.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3D - Historic Rehabilitation Tax Credits. › § 105-129.36A - (See note for repeal) Rules; fees.

§ 105-129.36A. (See note for repeal) Rules; fees.
(a) Rules. – The North Carolina Historical Commission, in consultation with the State Historic Preservation Officer, may adopt rules needed to administer the certification process required by this section.
(b) Fees. – The North Carolina Historical Commission, in consultation with the State Historic Preservation Officer, may adopt a schedule of fees for providing certifications required by this Article. In establishing the fee schedule, the Commission shall consider the administrative and personnel costs incurred by the Department of Natural and Cultural Resources. An application fee may not exceed one percent (1%) of the completed qualifying rehabilitation expenditures. The proceeds of the fees are receipts of the Department of Natural and Cultural Resources and must be used for performing its duties under this Article. (1993, c. 527, ss. 1, 2; 1997-139, ss. 1, 2; 1998-98, ss. 36, 69; 1999-389, ss. 3, 5, 6; 2002-159, s. 35(e); 2003-284, s. 35A.2; 2015-241, s. 14.30(s).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3D - Historic Rehabilitation Tax Credits. › § 105-129.38 - (See note for repeal) Report.

§ 105-129.38. (See note for repeal) Report.
The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by taxpayer:
(1) The number of taxpayers that took the credits allowed in this Article.
(2) The amount of rehabilitation expenses and qualified rehabilitation expenditures with respect to which credits were taken.
(3) The total cost to the General Fund of the credits taken. (2005-429, s. 2.5; 2010-166, s. 1.4.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3D - Historic Rehabilitation Tax Credits. › § 105-129.39 - Sunset.

§ 105-129.39. Sunset.
This Article expires for qualified rehabilitation expenditures and rehabilitation expenses incurred on or after January 1, 2015. For qualified rehabilitation expenditures and rehabilitation expenses incurred prior to January 1, 2015, this Article expires for property not placed in service by January 1, 2023. (2010-166, s. 1.5; 2012-36, s. 12(a); 2018-5, s. 38.10(j).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3E - Low-Income Housing Tax Credits. › § 105-129.40 - (See Editor's note for repeal) Scope and definitions.

§ 105-129.40. (See Editor's note for repeal) Scope and definitions.
(a) Scope. – G.S. 105-129.41 applies to buildings that are awarded a federal credit allocation before January 1, 2003. G.S. 105-129.42 applies to buildings that are awarded a federal credit allocation on or after January 1, 2003.
(b) Definitions. – The definitions in section 42 of the Code and the following definitions apply in this Article:
(1) Housing Finance Agency. – The North Carolina Housing Finance Agency established in G.S. 122A-4.
(2) Pass-through entity. – Defined in G.S. 105-228.90. (2002-87, s. 1; 2003-416, s. 3.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3E - Low-Income Housing Tax Credits. › § 105-129.43 - (See Editor's note for repeal) Substantiation.

§ 105-129.43. (See Editor's note for repeal) Substantiation.
A taxpayer allowed a credit under this Article must maintain and make available for inspection any information or records required by the Secretary of Revenue or the Housing Finance Agency. The burden of proving eligibility for a credit and the amount of the credit rests upon the taxpayer. (2002-87, s. 1.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3E - Low-Income Housing Tax Credits. › § 105-129.44 - (See note for repeal) Report.

§ 105-129.44. (See note for repeal) Report.
The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by taxpayer:
(1) The number of taxpayers that took the credit allowed in this Article.
(2) The location of each qualified North Carolina low-income building or housing development for which a credit was taken.
(3) The total cost to the General Fund of the credits taken. (2002-87, s. 1; 2005-429, s. 2.6; 2010-166, s. 1.6.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3E - Low-Income Housing Tax Credits. › § 105-129.45 - Sunset.

§ 105-129.45. Sunset.
This Article is repealed effective January 1, 2015. The repeal applies to developments to which federal credits are allocated on or after January 1, 2015. (2002-87, s. 1; 2004-110, s. 4.1; 2008-107, s. 28.3(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3F - Research and Development. › § 105-129.50 - (See note for repeal) Definitions.

§ 105-129.50. (See note for repeal) Definitions.
The definitions in section 41 of the Code apply in this Article. In addition, the following definitions apply in this Article:
(1) Development tier one area. – Defined in G.S. 143B-437.08.
(2) Full-time job. – Defined in G.S. 105-129.81.
(3) Reserved.
(4) North Carolina university research expenses. – Any amount the taxpayer paid or incurred to a research university for qualified research performed in this State or basic research performed in this State.
(4a) (Repealed effective for taxable years beginning on or after January 1, 2014) Participating community college. – A community college, as defined in G.S. 115D-2, that offers an associate in applied science degree in simulation and game development.
(5) Period of measurement. – Defined in the Small Business Size Regulations of the federal Small Business Administration.
(6) Qualified North Carolina research expenses. – Qualified research expenses, other than North Carolina university research expenses, for research performed in this State.
(7) Receipts. – Defined in the Small Business Size Regulations of the federal Small Business Administration.
(8) Related person. – Defined in G.S. 105-163.010.
(9) Research university. – An institution of higher education that meets one or both of the following conditions:
a. It is classified as one of the following in the most recent edition of "A Classification of Institutions of Higher Education", the official report of The Carnegie Foundation for the Advancement of Teaching:
1. Doctoral/Research Universities, Extensive or Intensive.
2. Masters Colleges and Universities, I or II.
3. Baccalaureate Colleges, Liberal Arts or General.
b. It is a constituent institution of The University of North Carolina.
(10) Small business. – A business whose annual receipts, combined with the annual receipts of all related persons, for the applicable period of measurement did not exceed one million dollars ($1,000,000). (2004-124, s. 32D.2; 2010-147, s. 3.2; 2011-330, s. 4; 2013-316, s. 2.3(b).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3F - Research and Development. › § 105-129.51 - (See note for repeal) Taxpayer standards and sunset.

§ 105-129.51. (See note for repeal) Taxpayer standards and sunset.
(a) A taxpayer is eligible for a credit allowed in this Article if it satisfies the requirements of G.S. 105-129.83(c), (d), (e), (f), and (g) relating to wage standard, health insurance, environmental impact, safety and health programs, and overdue tax debts, respectively.
(b) This Article is repealed for taxable years beginning on or after January 1, 2016.
(c) Repealed by Session Laws 2004-124, s. 32D.4, effective for taxable years beginning on or after January 1, 2006. (2004-124, ss. 32D.2, s. 32D.4; 2006-252, s. 2.20; 2008-107, s. 28.2(a); 2010-147, s. 3.3; 2013-316, s. 2.3(c).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3F - Research and Development. › § 105-129.52 - (See note for repeal) Tax election; cap.

§ 105-129.52. (See note for repeal) Tax election; cap.
(a) Tax Election. – A credit allowed in this Article is allowed against the franchise tax levied in Article 3 of this Chapter or the income taxes levied in Article 4 of this Chapter. The taxpayer must elect the tax against which a credit will be claimed when filing the return on which the credit is first claimed. This election is binding. Any carryforwards of a credit must be claimed against the same tax.
(b) Cap. – A credit allowed in this Article may not exceed fifty percent (50%) of the amount of tax against which it is claimed for the taxable year, reduced by the sum of all other credits allowed against that tax, except tax payments made by or on behalf of the taxpayer. This limitation applies to the cumulative amount of credit, including carryforwards, claimed by the taxpayer under this Article against each tax for the taxable year. Any unused portion of a credit allowed in this Article may be carried forward for the succeeding 15 years. (2004-124, s. 32D.2; 2010-96, s. 40.3; 2010-147, s. 3.4.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3F - Research and Development. › § 105-129.53 - (See note for repeal) Substantiation.

§ 105-129.53. (See note for repeal) Substantiation.
To claim a credit allowed by this Article, the taxpayer must provide any information required by the Secretary. Every taxpayer claiming a credit under this Article must maintain and make available for inspection by the Secretary any records the Secretary considers necessary to determine and verify the amount of the credit to which the taxpayer is entitled. The burden of proving eligibility for a credit and the amount of the credit rests upon the taxpayer, and no credit may be allowed to a taxpayer that fails to maintain adequate records or to make them available for inspection. (2004-124, s. 32D.2.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3F - Research and Development. › § 105-129.54 - (See note for repeal) Report.

§ 105-129.54. (See note for repeal) Report.
The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by credit and by taxpayer:
(1) The number of taxpayers that took a credit allowed in this Article, itemized by the categories of small business, low-tier, university research, Eco-Industrial Park, and other.
(2) The amount of each credit taken in each category.
(3) The total cost to the General Fund of the credits taken. (2004-124, s. 32D.2; 2005-429, s. 2.7; 2010-147, s. 3.5; 2010-166, s. 1.7; 2013-316, s. 2.3(d).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3F - Research and Development. › § 105-129.55 - (See note for repeal) Credit for North Carolina research and development.

§ 105-129.55. (See note for repeal) Credit for North Carolina research and development.
(a) Qualified North Carolina Research Expenses. – A taxpayer that has qualified North Carolina research expenses for the taxable year is allowed a credit equal to a percentage of the expenses, determined as provided in this section. Only one credit is allowed under this section with respect to the same expenses. If more than one subdivision of this section applies to the same expenses, then the credit is equal to the higher percentage, not both percentages combined. If part of the taxpayer's qualified North Carolina research expenses qualifies under more than one subdivision of this section, the applicable percentages apply separately to each part of the expenses.
(1) Small business. – If the taxpayer was a small business as of the last day of the taxable year, the applicable percentage is three and one-quarter percent (3.25%).
(2) Low-tier research. – For expenses with respect to research performed in a development tier one area, the applicable percentage is three and one-quarter percent (3.25%).
(2a) University research. – For North Carolina university research expenses, the applicable percentage is twenty percent (20%).
(2b) Eco-Industrial Park. – For expenses with respect to research performed in an Eco-Industrial Park certified under G.S. 143B-437.08, the applicable percentage is thirty-five percent (35%).
(3) Other research. – For expenses not covered under another subdivision of this section, the percentages provided in the table below apply to the taxpayer's qualified North Carolina research expenses during the taxable year at the following levels:
Expenses Over Up To Rate
-0- $50 million 1.25%
$50 million $200 million 2.25%
$200 million – 3.25%
(b) Repealed by Session Laws 2010-147, s. 5.5, effective January 1, 2011. (2004-124, s. 32D.2; 2006-252, s. 2.1; 2007-323, s. 31.8(a); 2010-147, s. 5.5.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3H - Mill Rehabilitation Tax Credit. › § 105-129.70 - (See note for repeal) Definitions.

§ 105-129.70. (See note for repeal) Definitions.
The following definitions apply in this Article:
(1) Certified historic structure. – Defined in section 47 of the Code.
(2) Certified rehabilitation. – Defined in G.S. 105-129.36.
(3) Cost certification. – The certification obtained by the State Historic Preservation Officer from the taxpayer of the amount of the qualified rehabilitation expenditures or the rehabilitation expenses incurred with respect to a certified rehabilitation of an eligible site.
(3a) Development tier area. – Defined in G.S. 143B-437.08.
(4) Eligibility certification. – The certification obtained from the State Historic Preservation Officer that the applicable facility comprises an eligible site.
(5) Eligible site. – A site located in this State that satisfies all of the following conditions:
a. It was used as a manufacturing facility or for purposes ancillary to manufacturing, as a warehouse for selling agricultural products, or as a public or private utility.
b. It is a certified historic structure or a State-certified historic structure.
c. It has been at least eighty percent (80%) vacant for a period of at least two years immediately preceding the date the eligibility certification is made.
d. Repealed by Session Laws 2008-107, s. 28.4(a), effective for taxable years beginning on or after January 1, 2008.
(6) Repealed by Session Laws 2006-252, s. 2.22, effective January 1, 2007.
(7) Pass-through entity. – Defined in G.S. 105-228.90.
(8) Qualified rehabilitation expenditures. – Defined in section 47 of the Code.
(9) Rehabilitation expenses. – Defined in G.S. 105-129.36.
(10) State-certified historic structure. – Defined in G.S. 105-129.36.
(11) State Historic Preservation Officer. – Defined in G.S. 105-129.36. (2006-40, s. 1; 2006-252, s. 2.22; 2008-107, s. 28.4(a); 2021-180, s. 42.7(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3H - Mill Rehabilitation Tax Credit. › § 105-129.73 - (See note for repeal) Tax credited; cap.

§ 105-129.73. (See note for repeal) Tax credited; cap.
(a) Taxes Credited. – The credits allowed by this Article may be claimed against the franchise tax imposed under Article 3 of this Chapter, the income taxes imposed under Article 4 of this Chapter, or the gross premiums tax imposed under Article 8B of this Chapter. The taxpayer may take the credits allowed by this Article against only one of the taxes against which it is allowed. The taxpayer must elect the tax against which a credit will be claimed when filing the return on which it is claimed. This election is binding. Any carryforwards of the credit must be claimed against the same tax.
(b) Cap. – A credit allowed under this Article may not exceed the amount of the tax against which it is claimed for the taxable year reduced by the sum of all credits allowed, except payment of tax made by or on behalf of the taxpayer. Any unused portion of the credit may be carried forward for the succeeding nine years. (2006-40, s. 1; 2021-180, s. 42.7(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3H - Mill Rehabilitation Tax Credit. › § 105-129.74 - (See note for repeal) Coordination with Historic Rehabilitation Tax Credit.

§ 105-129.74. (See note for repeal) Coordination with Historic Rehabilitation Tax Credit.
A taxpayer that claims a credit under this Article may not also claim a credit under Article 3D or 3L of this Chapter with respect to the same activity. The rules and fee schedule adopted under G.S. 105-129.36A or G.S. 105-129.107 apply to this Article. (2006-40, s. 1; 2019-237, s. 3(c); 2021-180, s. 42.7(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3H - Mill Rehabilitation Tax Credit. › § 105-129.75 - Sunset and applicable expenditures.

§ 105-129.75. Sunset and applicable expenditures.
(a) Sunset. – Except for credits allowed under G.S. 105-129.71(a1), this Article expires, and a tax credit allowed under G.S. 105-129.71(a) may not be claimed, for rehabilitation projects not completed and placed in service prior to January 1, 2030.
(b) Delayed Sunset and Applicable Expenditures. – For credits allowed under G.S. 105-129.71(a1), the following applies:
(1) The qualified rehabilitation expenditures must be incurred on or after January 1, 2019, and before January 1, 2030.
(2) This Article expires, and a tax credit allowed under G.S. 105-127.71(a1) may not be claimed, for rehabilitation projects not completed and placed in service prior to January 1, 2030. (2006-40, s. 1; 2008-107, s. 28.4(d); 2010-31, s. 31.5(a); 2012-36, s. 12(b); 2015-241, s. 32.3(b); 2019-237, s. 3(d); 2021-180, s. 42.7(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3H - Mill Rehabilitation Tax Credit. › § 105-129.75A - (See note for repeal) Report.

§ 105-129.75A. (See note for repeal) Report.
The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by taxpayer:
(1) The number of taxpayers that took the credits allowed in this Article.
(2) The amount of rehabilitation expenses and qualified rehabilitation expenditures with respect to which credits were taken.
(3) The total cost to the General Fund of the credits taken. (2010-166, s. 1.8; 2021-180, s. 42.7(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3J - Tax Credits for Growing Businesses. › § 105-129.80 - (See notes) Legislative findings.

§ 105-129.80. (See notes) Legislative findings.
The General Assembly finds that:
(1) It is the policy of the State of North Carolina to stimulate economic activity and to create new jobs for the citizens of the State by encouraging and promoting the expansion of existing business and industry within the State and by recruiting and attracting new business and industry to the State.
(2) Both short-term and long-term economic trends at the State, national, and international levels have made the successful implementation of the State's economic development policy and programs both more critical and more challenging, and the decline in the State's traditional industries, and the resulting adverse impact upon the State and its citizens, have been exacerbated in recent years by adverse national and State economic trends that contribute to the reduction in the State's industrial base and that inhibit the State's ability to sustain or attract new and expanding businesses.
(3) The economic condition of the State is not static, and recent changes in the State's economic condition have created economic distress that requires a reevaluation of certain existing State programs and the enactment of a new program as provided in this Article that is designed to stimulate new economic activity and to create new jobs within the State.
(4) The enactment of this Article is necessary to stimulate the economy and create new jobs in North Carolina, and this Article will promote the general welfare and confer, as its primary purpose and effect, benefits on citizens throughout the State through the creation of new jobs, an enlargement of the overall tax base, an expansion and diversification of the State's industrial base, and an increase in revenue to the State and its political subdivisions.
(5) The purpose of this Article is to stimulate economic activity and to create new jobs within the State.
(6) The State is in need of a focused tax credit program that encourages and facilitates economic growth and development within the State.
(7) The resources of the State are not evenly distributed throughout the State and different communities have different abilities and needs in attracting and maintaining new and expanding business and industry. (2006-252, s. 1.1.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3J - Tax Credits for Growing Businesses. › § 105-129.82 - (See notes) Sunset; studies.

§ 105-129.82. (See notes) Sunset; studies.
(a) Sunset. – This Article is repealed effective for business activities that occur on or after January 1, 2014.
(b) Equity Study. – The Department of Commerce shall study the effect of the tax incentives provided in this Article on tax equity. This study shall include the following:
(1) Reexamining the formula in G.S. 143B-437.08 used to define development tiers, to include consideration of alternative measures for more equitable treatment of counties in similar economic circumstances.
(2) Considering whether the assignment of tiers and the applicable thresholds are equitable for smaller counties.
(3) Compiling any available data on whether expanding North Carolina businesses receive fewer benefits than out-of-State businesses that locate to North Carolina.
(c) Impact Study. – The Department of Commerce shall study the effectiveness of the tax incentives provided in this Article. This study shall include:
(1) Studying the distribution of tax incentives across new and expanding businesses and industries.
(2) Examining data on economic recruitment for the period from 2005 through the most recent year for which data are available by county, by industry type, by size of investment, and by number of jobs, and other relevant information to determine the pattern of business locations and expansions before and after the enactment of this Article.
(3) Measuring the direct costs and benefits of the tax incentives.
(4) Compiling available information on the current use of incentives by other states and whether that use is increasing or declining.
(d) Report. – The Department of Commerce shall report the results of these studies and its recommendations to the General Assembly biennially with the first report due by June 1, 2009. (2006-252, s. 1.1; 2010-147, s. 1.1; 2012-36, s. 5.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3J - Tax Credits for Growing Businesses. › § 105-129.84 - (See notes) Tax election; cap; carryforwards; limitations.

§ 105-129.84. (See notes) Tax election; cap; carryforwards; limitations.
(a) Tax Election. – The credits provided in this Article are allowed against the franchise tax levied in Article 3 of this Chapter, the income taxes levied in Article 4 of this Chapter, and the gross premiums tax levied in Article 8B of this Chapter. The taxpayer may divide a credit between the taxes against which it is allowed. Carryforwards of a credit may be divided between the taxes against which it is allowed without regard to the original election regarding the division of the credit.
(b) Cap. – The credits allowed under this Article may not exceed fifty percent (50%) of the cumulative amount of taxes against which they may be claimed for the taxable year, reduced by the sum of all other credits allowed against those taxes, except tax payments made by or on behalf of the taxpayer. This limitation applies to the cumulative amount of credit, including carryforwards, claimed by the taxpayer under this Article for the taxable year.
(c) Carryforward. – Unless a longer carryforward period applies, any unused portion of a credit allowed under G.S. 105-129.87 or G.S. 105-129.88 may be carried forward for the succeeding five years, and any unused portion of a credit allowed under G.S. 105-129.89 may be carried forward for the succeeding 15 years. If the Secretary of Commerce makes a written determination that the taxpayer is expected to purchase or lease, and place in service in connection with an eligible business within a two-year period, at least one hundred fifty million dollars ($150,000,000) worth of business and real property, any unused portion of a credit under this Article with respect to the establishment that satisfies that condition may be carried forward for the succeeding 20 years. If the taxpayer does not make the required level of investment, the taxpayer shall apply the standard carryforward period rather than the 20-year carryforward period.
(d) Statute of Limitations. – Notwithstanding Article 9 of this Chapter, a taxpayer shall claim a credit under this Article within six months after the date set by statute for the filing of the return, including any extensions of that date.
(e) Credit Treated as Tax Payment. – The owner of a pass-through entity that claims a credit under this Article may treat some or all of the credit claimed as a tax payment made by or on behalf of the taxpayer. A credit claimed that is treated as a tax payment is subject to all provisions of this section. A credit claimed that is treated as a tax payment does not accrue interest under G.S. 105-241.21 if the payment is determined to be an overpayment. A taxpayer that elects to have a credit claimed under this Article treated as a tax payment must make this election when the return is filed. (2006-252, s. 1.1; 2011-297, s. 4; 2013-414, s. 4.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3J - Tax Credits for Growing Businesses. › § 105-129.85 - (See notes) Fees and reports.

§ 105-129.85. (See notes) Fees and reports.
(a) Fee. – When filing a return for a taxable year in which the taxpayer engaged in activity for which the taxpayer is eligible for a credit under this Article, the taxpayer shall pay the Department of Revenue a fee of five hundred dollars ($500.00) for each type of credit the taxpayer claims or intends to claim with respect to an establishment. The fee is due at the time the return is due for the taxable year in which the taxpayer engaged in the activity for which the taxpayer is eligible for a credit. No credit is allowed under this Article for a taxable year until all outstanding fees have been paid. Fees collected under this section shall be credited to the General Fund.
(b) Report. – The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by credit and by taxpayer:
(1) The number and amount of credits generated and taken for each credit allowed in this Article.
(2) The number and development tier area of new jobs with respect to which credits were generated and to which credits were taken.
(3) The cost and development tier area of business property with respect to which credits were generated and to which credits were taken.
(4) The cost and development tier area of real property investment with respect to which credits were generated and to which credits were taken. (2006-252, s. 1.1; 2010-166, s. 1.9.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3J - Tax Credits for Growing Businesses. › § 105-129.86 - (See notes) Substantiation.

§ 105-129.86. (See notes) Substantiation.
(a) Records. – To claim a credit allowed by this Article, the taxpayer shall provide any information required by the Secretary of Revenue. Every taxpayer claiming a credit under this Article shall maintain and make available for inspection by the Secretary of Revenue any records the Secretary considers necessary to determine and verify the amount of the credit to which the taxpayer is entitled. The burden of proving eligibility for the credit and the amount of the credit shall rest upon the taxpayer, and no credit shall be allowed to a taxpayer that fails to maintain adequate records or to make them available for inspection.
(b) Documentation. – Each taxpayer shall provide with the tax return qualifying information for each credit claimed under this Article. The qualifying information shall be in the form prescribed by the Secretary and shall be signed and affirmed by the individual who signs the taxpayer's tax return. The information required by this subsection is information demonstrating that the taxpayer has met the conditions for qualifying for a credit and any carryforwards and includes the following:
(1) The physical location of the jobs and investment with respect to which the credit is claimed, including the street address and the development tier designation of the establishment.
(2) The type of business with respect to which the credit is claimed and the average weekly wage at the establishment with respect to which the credit is claimed.
(3) Any other qualifying information related to a specific credit allowed under this Article. (2006-252, s. 1.1.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3K - Tax Incentives for Railroad Intermodal Facilities. › § 105-129.99 - Sunset.

§ 105-129.99. Sunset.
This Article is repealed effective for taxable years beginning on or after January 1, 2038. (2007-323, s. 31.23(a).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3L - Historic Rehabilitation Tax Credits Investment Program. › § 105-129.107 - (See note for repeal) Rules; fees.

§ 105-129.107. (See note for repeal) Rules; fees.
(a) Rules. – The North Carolina Historical Commission, in consultation with the State Historic Preservation Officer, may adopt rules needed to administer any certification process required by this Article.
(b) Fees. – The North Carolina Historical Commission, in consultation with the State Historic Preservation Officer, may adopt a schedule of fees for providing any certifications required by this Article, or Article 3D or 3H as they provided as of December 31, 2014. In establishing the fee schedule, the Commission shall consider the administrative and personnel costs incurred by the Department of Natural and Cultural Resources. An application fee may not exceed one percent (1%) of the completed qualifying rehabilitation expenditures. The proceeds of the fees are receipts of the Department of Natural and Cultural Resources and must be used for performing its duties under this Article. (2015-241, ss. 14.30(c), 32.3(a); 2015-264, s. 54.5(b).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3L - Historic Rehabilitation Tax Credits Investment Program. › § 105-129.109 - (See note for repeal) Report; tracking.

§ 105-129.109. (See note for repeal) Report; tracking.
(a) The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by taxpayer:
(1) The number of taxpayers that took the credits allowed in this Article.
(2) The amount of rehabilitation expenses and qualified rehabilitation expenditures with respect to which credits were taken.
(3) The total cost to the General Fund of the credits taken.
(b) The Department shall include in the economic incentives report required by G.S. 105-256 the following information:
(1) The total amount of tax credits claimed and the total amount of tax credits taken against current taxes, by type of tax, during the relevant tax year.
(2) The total amount of tax credits carried forward, by type of tax. (2015-241, s. 32.3(a); 2015-264, s. 54.5(b).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 3L - Historic Rehabilitation Tax Credits Investment Program. › § 105-129.110 - Sunset.

§ 105-129.110. Sunset.
This Article expires for qualified rehabilitation expenditures and rehabilitation expenses incurred on or after January 1, 2030. For qualified rehabilitation expenditures and rehabilitation expenses incurred prior to January 1, 2030, this Article expires for property not placed in service by January 1, 2032. (2015-241, s. 32.3(a); 2015-264, s. 54.5(b); 2017-102, s. 33; 2018-5, s. 38.10(k); 2019-237, s. 3(a); 2021-180, s. 42.7A(b).)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 4 - Income Tax. › § 105-130 - Short title.

§ 105-130. Short title.
This Part of the income tax Article shall be known and may be cited as the Corporation Income Tax Act. (1939, c. 158, s. 300; 1967, c. 1110, s. 3; 1998-98, ss. 42, 61, 68.)
2023 North Carolina General Statutes › Chapter 105 - Taxation › Article 4 - Income Tax. › § 105-130.1 - Purpose.

§ 105-130.1. Purpose.
(a) Purpose. – The general purpose of this Part is to impose a tax for the use of the State government upon the net income of every domestic corporation and of every foreign corporation doing business in this State.
The tax imposed upon the net income of corporations in this Part is in addition to all other taxes imposed under this Subchapter.
(b) Critical Infrastructure Disaster Relief. – A nonresident business that solely performs disaster-related work in this State during a disaster response period at the request of a critical infrastructure company is not considered to be doing business in this State for purposes of this Part. The definitions and provisions in G.S. 166A-19.70A apply in this subsection. (1939, c. 158, s. 301; 1967, c. 1110, s. 3; 1998-98, s. 69; 2019-187, s. 1(f).)