2016 Economic Incentives Report Click on links to go to taxpayer-detail reports. 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) 79 2,105,657 January 1, 2007 § 105-129.8 NC-478; NC-478A Machinery and Equipment Investment (Article 3A) 516 31,181,967 January 1, 2007 § 105-129.9 NC-478; NC-478B Research and Development (Article 3A) 82 2,201,781 January 1, 2007 § 105-129.10 NC-478 Worker Training (Article 3A) 2 4,824 January 1, 2007 § 105-129.11 NC-478 Investing in Central Office or Aircraft Facility (Article 3A) 8 578,536 January 1, 2007 § 105-129.12 NC-478; NC-478E Technology Commercialization (Article 3A) 0 0 January 1, 2007 § 105-129.9A NC-478 Substantial Investment in Other Property (Article 3A) 5 572,004 January 1, 2007 § 105-129.12A NC-478 Development Zone Projects (Article 3A) 0 0 January 1, 2007 § 105-129.13 NC-478 Business Property (Article 3B) 15 3,703 January 1, 2002 § 105-129.16 NC-478 Renewable Energy Property (Article 3B) 2,445 136,289,577 January 1, 2016 § 105-129.16A NC-478; NC-478G Constructing Renewable Fuel Facilities (Article 3B) 12 89,668 January 1, 2014 § 105-129.16D NC-478 Small Business Employee Health Insurance (Article 3B) 283 147,629 January 1, 2010 § 105-129.16E NC-478 Biodiesel Producers (Article 3B) 3 8,048 January 1, 2014 § 105-129.16F NC-478 Work Opportunity (Article 3B) 156 2,804,446 January 1, 2014 § 105-129.16G NC-478 Donating Funds for Purchases of Renewable Energy Property (Article 3B) 7 11,136 January 1, 2016 § 105-129.16H NC-478 Facility for Manufacturing Renewable Energy Property (Article 3B) 28 384,415 January 1, 2014 § 105-129.16I NC-478 Investing in Major Recycling Facility (Article 3C) 1 3,218,880 None § 105-129.27 CD-425 Historic Rehabilitation (Article 3D): Income-Producing Property 273 17,178,060 January 1, 2015 § 105-129.35 D-400TC or CD-425 Non-Income-Producing Property 621 5,805,110 January 1, 2015 § 105-129.36 D-400TC or CD-425 Low-Income Housing (Article 3E): Awarded a Federal Credit Allocation before Jan. 1, 2003 0 0 January 1, 2015 § 105-129.41 NC-478; NC-478H Awarded a Federal Credit Allocation on or after Jan. 1, 2003 0 0 January 1, 2015 § 105-129.42 None/ Notification from NC Housing Finance Agency N.C. Research and Development (Article 3F) 892 86,205,135 January 1, 2016 § 105-129.55 NC-478; NC-478I Interactive Digital Media (Article 3F) 21 197,242 January 1, 2014 § 105-129.56 NC-478; NC-478I Mill Rehabilitation (Article 3H): Income-Producing Property 103 21,018,430 January 1, 2015 § 105-129.71 D-400TC or CD-425 Non-Income-Producing Property 179 1,372,581 January 1, 2015 § 105-129.72 D-400TC or CD-425 Creating Jobs (Article 3J) 413 26,961,426 January 1, 2014 § 105-129.87 NC-478; NC-478J Investing in Business Property (Article 3J) 562 123,571,583 January 1, 2014 § 105-129.88 NC-478; NC-478K Investing in Real Property (Article 3J) 10 839,119 January 1, 2014 § 105-129.89 NC-478; NC-478L Railroad Intermodal Facility (Article 3K) 1 3,110,259 January 1, 2038 § 105-129.96 NC-478 NC State Ports Authority Charges 17 138,471 January 1, 2014 § 105-130.41 & § 105-151.22 NC-478 Cigarette Exportation 2 11,551,895 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 25 44,694,214 January 1, 2015 § 105-130.47 & § 105-151.29 NC-415 Film and Entertainment Grant 0 0 July 1, 2020 § 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 4 53,253 January 1, 2020 § 105-164.14A.(a)(4) E-588A Professional Motorsports Team 18 2,109,039 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 1 3,582 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 - Detail 16 4,516,743 Reports of Credits Generated Number of Taxpayers Credits Generated Article 3J Credits Generated by Taxpayer Creating Jobs 92 29,378,500 Investing in Business Property 150 143,598,233 Investing in Real Property 0 0 NOTES Exception to the sunset for the Renewable Energy Property credit: extension to Jan. 1, 2017 for certain taxpayers who have incurred a minimum percentage of costs for a project by Jan. 1, 2016. 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. Related Content Economic Incentives Reports
2016 Economic Incentives Report Click on links to go to taxpayer-detail reports. 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) 79 2,105,657 January 1, 2007 § 105-129.8 NC-478; NC-478A Machinery and Equipment Investment (Article 3A) 516 31,181,967 January 1, 2007 § 105-129.9 NC-478; NC-478B Research and Development (Article 3A) 82 2,201,781 January 1, 2007 § 105-129.10 NC-478 Worker Training (Article 3A) 2 4,824 January 1, 2007 § 105-129.11 NC-478 Investing in Central Office or Aircraft Facility (Article 3A) 8 578,536 January 1, 2007 § 105-129.12 NC-478; NC-478E Technology Commercialization (Article 3A) 0 0 January 1, 2007 § 105-129.9A NC-478 Substantial Investment in Other Property (Article 3A) 5 572,004 January 1, 2007 § 105-129.12A NC-478 Development Zone Projects (Article 3A) 0 0 January 1, 2007 § 105-129.13 NC-478 Business Property (Article 3B) 15 3,703 January 1, 2002 § 105-129.16 NC-478 Renewable Energy Property (Article 3B) 2,445 136,289,577 January 1, 2016 § 105-129.16A NC-478; NC-478G Constructing Renewable Fuel Facilities (Article 3B) 12 89,668 January 1, 2014 § 105-129.16D NC-478 Small Business Employee Health Insurance (Article 3B) 283 147,629 January 1, 2010 § 105-129.16E NC-478 Biodiesel Producers (Article 3B) 3 8,048 January 1, 2014 § 105-129.16F NC-478 Work Opportunity (Article 3B) 156 2,804,446 January 1, 2014 § 105-129.16G NC-478 Donating Funds for Purchases of Renewable Energy Property (Article 3B) 7 11,136 January 1, 2016 § 105-129.16H NC-478 Facility for Manufacturing Renewable Energy Property (Article 3B) 28 384,415 January 1, 2014 § 105-129.16I NC-478 Investing in Major Recycling Facility (Article 3C) 1 3,218,880 None § 105-129.27 CD-425 Historic Rehabilitation (Article 3D): Income-Producing Property 273 17,178,060 January 1, 2015 § 105-129.35 D-400TC or CD-425 Non-Income-Producing Property 621 5,805,110 January 1, 2015 § 105-129.36 D-400TC or CD-425 Low-Income Housing (Article 3E): Awarded a Federal Credit Allocation before Jan. 1, 2003 0 0 January 1, 2015 § 105-129.41 NC-478; NC-478H Awarded a Federal Credit Allocation on or after Jan. 1, 2003 0 0 January 1, 2015 § 105-129.42 None/ Notification from NC Housing Finance Agency N.C. Research and Development (Article 3F) 892 86,205,135 January 1, 2016 § 105-129.55 NC-478; NC-478I Interactive Digital Media (Article 3F) 21 197,242 January 1, 2014 § 105-129.56 NC-478; NC-478I Mill Rehabilitation (Article 3H): Income-Producing Property 103 21,018,430 January 1, 2015 § 105-129.71 D-400TC or CD-425 Non-Income-Producing Property 179 1,372,581 January 1, 2015 § 105-129.72 D-400TC or CD-425 Creating Jobs (Article 3J) 413 26,961,426 January 1, 2014 § 105-129.87 NC-478; NC-478J Investing in Business Property (Article 3J) 562 123,571,583 January 1, 2014 § 105-129.88 NC-478; NC-478K Investing in Real Property (Article 3J) 10 839,119 January 1, 2014 § 105-129.89 NC-478; NC-478L Railroad Intermodal Facility (Article 3K) 1 3,110,259 January 1, 2038 § 105-129.96 NC-478 NC State Ports Authority Charges 17 138,471 January 1, 2014 § 105-130.41 & § 105-151.22 NC-478 Cigarette Exportation 2 11,551,895 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 25 44,694,214 January 1, 2015 § 105-130.47 & § 105-151.29 NC-415 Film and Entertainment Grant 0 0 July 1, 2020 § 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 4 53,253 January 1, 2020 § 105-164.14A.(a)(4) E-588A Professional Motorsports Team 18 2,109,039 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 1 3,582 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 - Detail 16 4,516,743 Reports of Credits Generated Number of Taxpayers Credits Generated Article 3J Credits Generated by Taxpayer Creating Jobs 92 29,378,500 Investing in Business Property 150 143,598,233 Investing in Real Property 0 0 NOTES Exception to the sunset for the Renewable Energy Property credit: extension to Jan. 1, 2017 for certain taxpayers who have incurred a minimum percentage of costs for a project by Jan. 1, 2016. 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. Related Content Economic Incentives Reports
