2017 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) 62 711,909 January 1, 2007 § 105-129.8 NC-478; NC-478A
Machinery and Equipment Investment (Article 3A) 297 12,276,373 January 1, 2007 § 105-129.9 NC-478; NC-478B
Research and Development (Article 3A) 116 2,556,993 January 1, 2007 § 105-129.10 NC-478
Investing in Central Office or Aircraft Facility (Article 3A) 2 37 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) 27 138,019 January 1, 2007 § 105-129.12A NC-478
Renewable Energy Property (Article 3B) 5,988 245,018,585 January 1, 2016 § 105-129.16A NC-478; NC-478G
Constructing Renewable Fuel Facilities (Article 3B) 16 260,838 January 1, 2014 § 105-129.16D NC-478
Small Business Employee Health Insurance (Article 3B) 133 75,244 January 1, 2010 § 105-129.16E NC-478
Biodiesel Producers (Article 3B) 4 40,806 January 1, 2014 § 105-129.16F NC-478
Work Opportunity (Article 3B) 65 313,542 January 1, 2014 § 105-129.16G NC-478
Donating Funds for Purchases of Renewable Energy Property (Article 3B 209 98,444 January 1, 2016 § 105-129.16H NC-478
Facility for Manufacturing Renewable Energy Property (Article 3B) 46 264,272 January 1, 2014 § 105-129.16I NC-478
Investing in Major Recycling Facility (Article 3C) 2 4,140,232 None § 105-129.27 CD-425
Historic Rehabilitation (Article 3D):  
Income-Producing Property 257 19,338,297 January 1, 2015 § 105-129.35 D-400TC or CD-425
Non-Income-Producing Property 661 6,079,401 January 1, 2015 § 105-129.36 D-400TC or CD-425
N.C. Research and Development (Article 3F) 1,253 41,939,508 January 1, 2016 § 105-129.55 NC-478; NC-478I
Interactive Digital Media (Article 3F) 25 130,005 January 1, 2014 § 105-129.56 NC-478; NC-478I
Mill Rehabilitation (Article 3H):  
Income-Producing Property 190 34,297,924 January 1, 2015 § 105-129.71 D-400TC or CD-425
Non-Income-Producing Property 49 505,845 January 1, 2015 § 105-129.72 D-400TC or CD-425
Creating Jobs (Article 3J) 538 18,827,951 January 1, 2014 § 105-129.87 NC-478; NC-478J
Investing in Business Property (Article 3J) 679 60,841,554 January 1, 2014 § 105-129.88 NC-478; NC-478K
Investing in Real Property (Article 3J) 17 915,961 January 1, 2014 § 105-129.89 NC-478; NC-478L
Railroad Intermodal Facility (Article 3K) 1 945,203 January 1, 2038 § 105-129.96 NC-478
NC State Ports Authority Charges 7 131,080 January 1, 2014 § 105-130.41 & § 105-151.22 NC-478
Cigarette Exportation 2 11,588,728 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 5 15,219,174 January 1, 2015 § 105-130.47 & § 105-151.29 NC-415
Film and Entertainment Grant 1 5,000,000 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 6 57,236 January 1, 2020 § 105-164.14A.(a)(4) E-588A
Professional Motorsports Team 12 1,320,953 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 - Detail 13 947,300  
Reports of Credits Generated Number of Taxpayers Credits Generated
Article 3J Credits Generated by Taxpayer  
Creating Jobs 7 1,904,000
Investing in Business Property 9 1,866,448
Investing in Real Property 0 0

NOTES

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.