2011 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) 388 9,853,937 January 1, 2007 § 105-129.8 NC-478; NC-478A
Machinery and Equipment Investment (Article 3A) 787 40,026,406 January 1, 2007 § 105-129.9 NC-478; NC-478B
Research and Development (Article 3A) 101 5,447,693 January 1, 2007 § 105-129.10 NC-478
Worker Training (Article 3A) 23 255,744 January 1, 2007 § 105-129.11 NC-478; NC-478E
Investing in Central Office or Aircraft Facility (Article 3A) 27 793,657 January 1, 2007 § 105-129.12 NC-478
Technology Commercialization (Article 3A) 11 9,614 January 1, 2007 § 105-129.9A NC-478
Substantial Investment in Other Property (Article 3A) 4 458,557 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) 1,982 1,766,897 January 1, 2002 § 105-129.16 NC-478
Renewable Energy Property (Article 3B) 929 5,232,172 January 1, 2016 § 105-129.16A NC-478; NC-478G
Non-Hazardous Dry-Cleaning (Article 3B) 0 0 January 1, 2006 § 105-129.16C NC-478
Constructing Renewable Fuel Facilities (Article 3B) 13 50,919 January 1, 2013 § 105-129.16D NC-478
Small Business Employee Health Insurance (Article 3B) 6,443 3,656,202 January 1, 2010 § 105-129.16E NC-478
Biodiesel Producers (Article 3B) 6 108,833 January 1, 2013 § 105-129.16F NC-478
Work Opportunity (Article 3B) 286 2,067,240 January 1, 2012 § 105-129.16G NC-478
Donating Funds to Non-Profit Organization (Article 3B) 7 3,146 None § 105-129.16H NC-478
Investing in Large or Major Recycling Facility (Article 3C) 1 725,238 None § 105-129.27 CD-425
Historic Rehabilitation (Article 3D):  
Income-Producing Property 256 5,143,449 January 1, 2014 § 105-129.35 D-400TC or CD-425
Non-Income-Producing Property 536 6,614,016 January 1, 2014 § 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 § 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 § 105-129.42 None/ Notification from NC Housing Finance Agency
Research and Development (Article 3F) 514 18,863,397 None § 105-129.55 NC-478; NC-478I
Computer Manufacturing (Article 3G) 1 141,984 July 1, 2010 § 105-129.64 CD-425
Mill Rehabilitation (Article 3H):  
Income-Producing Property 25 1,221,436 January 1, 2014 § 105-129.71 D-400TC or CD-425
Non-Income-Producing Property 34 397,997 January 1, 2014 § 105-129.72 D-400TC or CD-425
Creating Jobs (Article 3J) 177 2,182,538 January 1, 2013 § 105-129.87 NC-478; NC-478J
Investing in Business Property (Article 3J) 252 11,352,905 January 1, 2013 § 105-129.88 NC-478; NC-478K
Investing in Real Property (Article 3J) 5 724,921 January 1, 2013 § 105-129.89 NC-478; NC-478L
Railroad Intermodal Facility (Article 3K) 0 0 January 1, 2038 § 105-129.96 NC-478
NC State Ports Authority Charges 37 431,690 January 1, 2014 § 105-130.41 & § 105-151.22 NC-478
Cigarette Exportation 1 6,000,000 January 1, 2018 § 105-130.45 NC-478
Cigarette Exportation while Increasing Employment 1 6,000,000 January 1, 2018 § 105-130.46 NC-478
Film Production 10 2,389,178 January 1, 2014 § 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 § 105-164.14A.(a)(1) E-588B
Major Recycling Facility 1 291,027 None § 105-164.14A.(a)(2) E-585S
Business in Low-Tier Area 9 63,285 same as Article 3J § 105-164.14A.(a)(3) E-585S
Motorsports Team or Sanctioning Body 5 38,111 January 1, 2011 § 105-164.14A.(a)(4) E-588A
Professional Motorsports Team 11 287,205 January 1, 2014 § 105-164.14A.(a)(5) E-585S
Analytical Services Business 1 120,803 January 1, 2013 § 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) 2 682,309 January 1, 2013 § 105-164.14B. E-585S
2009 Sales & Use Refunds Supplement - Detail 6 309,572  
Reports of Credits Generated Number of Taxpayers Credits Generated
Article 3A Credits Generated by Taxpayer  
Creating Jobs 1 115,000
Creating Jobs in Development Zones  
Machinery and Equipment 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  
Creating Jobs 73 15,217,750
Investing in Business Property 192 65,917,291
Investing in Real Property 2 263,766

NOTES

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 (6.9%).