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2018 Economic Incentives Report

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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 Statute DOR Tax Forms Required
Creating Jobs (Article 3A) 25 194,397 January 1, 2007 § 105-129.8 NC-478; NC-478A
Machinery and Equipment Investment (Article 3A) 176 6,542,640 January 1, 2007 § 105-129.9 NC-478; NC-478B
Research and Development (Article 3A) 75 607,612 January 1, 2007 § 105-129.10 NC-478
Investing in Central Office or Aircraft Facility (Article 3A) 2 2,195 January 1, 2007 § 105-129.12 NC-478; NC-478E
Technology Commercialization (Article 3A) 1 1,270 January 1, 2007 § 105-129.9A NC-478
Substantial Investment in Other Property (Article 3A) 8 6,263 January 1, 2007 § 105-129.12A NC-478
Renewable Energy Property (Article 3B) 3,930 209,475,677 January 1, 2016 § 105-129.16A NC-478; NC-478G
Constructing Renewable Fuel Facilities (Article 3B) 9 19,187 January 1, 2014 § 105-129.16D NC-478
Small Business Employee Health Insurance (Article 3B) 6 4,563 January 1, 2010 § 105-129.16E NC-478
Biodiesel Producers (Article 3B) 0 0 January 1, 2014 § 105-129.16F NC-478
Work Opportunity (Article 3B) 421 737,930 January 1, 2014 § 105-129.16G NC-478
Donating Funds for Purchases of Renewable Energy Property (Article 3B) 39 19,649 January 1, 2016 § 105-129.16H NC-478
Facility for Manufacturing Renewable Energy Property (Article 3B) 29 123,619 January 1, 2014 § 105-129.16I NC-478
Investing in Major Recycling Facility (Article 3C) 2 2,639,845 None § 105-129.27 CD-425
Historic Rehabilitation (Article 3D):  
Income-Producing Property Revised 4/30/19 186 7,817,662 January 1, 2015 § 105-129.35 D-400TC or CD-425
Non-Income-Producing Property 529 5,005,706 January 1, 2015 § 105-129.36 D-400TC or CD-425
N.C. Research and Development (Article 3F) 578 17,804,762 January 1, 2016 § 105-129.55 NC-478; NC-478I
Interactive Digital Media (Article 3F) 19 30,513 January 1, 2014 § 105-129.56 NC-478; NC-478I
Mill Rehabilitation (Article 3H):  
Income-Producing Property 71 72,304,544 January 1, 2015 § 105-129.71 D-400TC or CD-425
Non-Income-Producing Property 32 192,619 January 1, 2015 § 105-129.72 D-400TC or CD-425
Creating Jobs (Article 3J) 436 14,008,913 January 1, 2014 § 105-129.87 NC-478; NC-478J
Investing in Business Property (Article 3J) 584 46,869,182 January 1, 2014 § 105-129.88 NC-478; NC-478K
Investing in Real Property (Article 3J) 13 1,223,378 January 1, 2014 § 105-129.89 NC-478; NC-478L
Railroad Intermodal Facility (Article 3K) 1 812,613 January 1, 2038 § 105-129.96 NC-478
Historic Rehabilitation (Article 3L):  
Income-Producing Property 176 1,780,736 January 1, 2020 § 105-129.105 NC-Rehab
Non-Income-Producing Property 33 248,946 January 1, 2020 § 105-129.106 NC-Rehab
Summary of Art. 3L credits taken and carried forward  
NC State Ports Authority Charges 6 5,915 January 1, 2014 § 105-130.41 & § 105-151.22 NC-478
Cigarette Exportation 2 10,483,886 January 1, 2018 § 105-130.45 NC-478
Cigarette Exportation while Increasing Employment 0 0 January 1, 2018 § 105-130.46 NC-478
Film Production Credit 0 0 January 1, 2015 § 105-130.47 & § 105-151.29 NC-415
Film and Entertainment Grant 7 23,399,791 None § 143B-437.02A Administered by NC Dept. of Commerce
Economic Incentive Refunds (Sales & Use Tax) (§ 105-164.14A.):  
Passenger Air Carrier 0 0 January 1, 2016 § 105-164.14A.(a)(1) E-588B
Major Recycling Facility 0 0 None § 105-164.14A.(a)(2) E-585S
Business in Low-Tier Area 0 0 January 1, 2014 § 105-164.14A.(a)(3) E-585S
Motorsports Team or Sanctioning Body 3 33,764 January 1, 2020 § 105-164.14A.(a)(4) E-588A
Professional Motorsports Team 14 1,443,607 January 1, 2020 § 105-164.14A.(a)(5) E-585S
Analytical Services Business 0 0 January 1, 2014 § 105-164.14A.(a)(6) E-588D
Railroad Intermodal Facility 0 0 January 1, 2038 § 105-164.14A.(a)(7) E-585S
Certain Industrial Facilities Refunds (Sales & Use Tax) 0 0 January 1, 2014 § 105-164.14B.(b) E-585S
Sales & Use Refunds Supplement 18 19,049,218  
Reports of Credits Generated Number of Taxpayers Credits Generated
Article 3J Credits Generated by Taxpayer  
Creating Jobs 1 22,500
Investing in Business Property 1 493,471
Investing in Real Property 0 0

NOTES

Exception to sunset for credit for Renewable Energy Property:

  • extension of sunset to Jan. 1, 2017 for taxpayers who met the requirements of G.S. 105-129.16A(f).
  • extension of sunset to May 5, 2017 for renewable energy property utilizing renewable biomass resources.

Exception to sunset for credit for Constructing Renewable Fuel Facilities:

  • extension of sunset to Jan. 1, 2017 for taxpayers who sign a letter of commitment as of Sept. 1, 2013, and begin construction on or before Dec. 1, 2013.

Exceptions to Article 3A sunsets:

  • 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.
  • 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.
  • extension of sunset to Jan. 1, 2010 for a taxpayer that qualifies as an eligible major industry.
  • 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.