2013 Economic Incentives Report

2013 Economic Incentives - Overview

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) 209 4,121,708 January 1, 2007 § 105-129.8 NC-478; NC-478A
Machinery and Equipment Investment (Article 3A) 638 31,422,010 January 1, 2007 § 105-129.9 NC-478; NC-478B
Research and Development (Article 3A) 56 2,844,528 January 1, 2007 § 105-129.10 NC-478
Worker Training (Article 3A) 26 53,192 January 1, 2007 § 105-129.11 NC-478; NC-478E
Investing in Central Office or Aircraft Facility (Article 3A) 18 288,497 January 1, 2007 § 105-129.12 NC-478
Technology Commercialization (Article 3A) 4 4,804 January 1, 2007 § 105-129.9A NC-478
Substantial Investment in Other Property (Article 3A) 2 679,450 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) 270 80,823 January 1, 2002 § 105-129.16 NC-478
Renewable Energy Property (Article 3B) 1,494 27,904,722 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) 20 177,629 January 1, 2014 § 105-129.16D NC-478
Small Business Employee Health Insurance (Article 3B) 1,087 490,921 January 1, 2010 § 105-129.16E NC-478
Biodiesel Producers (Article 3B) 5 30,532 January 1, 2014 § 105-129.16F NC-478
Work Opportunity (Article 3B) 229 2,419,494 January 1, 2014 § 105-129.16G NC-478
Donating Funds for Purchases of Renewable Energy Property (Article 3B 5 2,621 None § 105-129.16H NC-478
Facility for Manufacturing Renewable Energy Property (Article 3B) 9 15,262 January 1, 2014 § 105-129.16I NC-478
Small Business Unemployment Insurance (Article 3B) 28,744 8,882,777 January 1, 2012 § 105-129.16J D-400TC or CD-425
Investing in Major Recycling Facility (Article 3C) 1 1,429,162 None § 105-129.27 CD-425
Historic Rehabilitation (Article 3D):  
Income-Producing Property 207 6,902,940 January 1, 2015 § 105-129.35 D-400TC or CD-425
Non-Income-Producing Property 554 5,159,626 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 14 1,489,762 January 1, 2015 § 105-129.41 NC-478; NC-478H
Awarded a Federal Credit Allocation on or after Jan. 1, 2003 41 50,926,142 January 1, 2015 § 105-129.42 None/ Notification from NC Housing Finance Agency
N.C. Research and Development (Article 3F) 602 35,768,842 January 1, 2014 § 105-129.55 NC-478; NC-478I
Interactive Digital Media (Article 3F) 24 2,562,130 January 1, 2014 § 105-129.56 NC-478; NC-478I
Mill Rehabilitation (Article 3H):  
Income-Producing Property 18 29,045,943 January 1, 2015 § 105-129.71 D-400TC or CD-425
Non-Income-Producing Property 26 326,272 January 1, 2015 § 105-129.72 D-400TC or CD-425
Creating Jobs (Article 3J) 242 5,417,293 January 1, 2014 § 105-129.87 NC-478; NC-478J
Investing in Business Property (Article 3J) 456 22,734,810 January 1, 2014 § 105-129.88 NC-478; NC-478K
Investing in Real Property (Article 3J) 8 309,055 January 1, 2014 § 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 35 793,547 January 1, 2014 § 105-130.41 & § 105-151.22 NC-478
Cigarette Exportation 1 4,392,320 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 30 69,281,988 January 1, 2015 § 105-130.47 & § 105-151.29 NC-415
Economic Incentive Refunds (Sales & Use Tax) (§ 105-164.14A.):  
Passenger Air Carrier 1 13,378,549 January 1, 2014 § 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 4 150,329 same as Article 3J § 105-164.14A.(a)(3) E-585S
Motorsports Team or Sanctioning Body 9 146,977 January 1, 2014 § 105-164.14A.(a)(4) E-588A
Professional Motorsports Team 16 1,208,842 January 1, 2014 § 105-164.14A.(a)(5) E-585S
Analytical Services Business 3 176,072 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) 3 1,753,434 January 1, 2014 § 105-164.14B.(b) E-585S
Sales & Use Refunds Supplement - Detail 14 7,512,819  
Reports of Credits Generated Number of Taxpayers Credits Generated
Article 3A Credits Generated by Taxpayer  
Creating Jobs 0 0
Creating Jobs in Development Zones 0 0
Machinery and Equipment 2 1,325,027
Research & Development 2 161,877
Other Article 3A Credits Generated by Taxpayer 1 1,732,782
Article 3J Credits Generated by Taxpayer  
Creating Jobs 157 53,257,595
Investing in Business Property 249 110,221,134
Investing in Real Property 2 5,874,057

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%).