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2016 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) 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.