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 Revised 4/26/21||2||10,864,793||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|
|Investing in Business Property||1||493,471|
|Investing in Real Property||0||0|
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.