105-129.15. Definitions. The following definitions apply in this Article: (1) Business property. – Tangible personal property that is used by the taxpayer in connection with a business or for the production of income and is capitalized by the taxpayer for tax purposes under the Code. The term does not include, however, a luxury passenger automobile […]
105-129.16A. (See subsections (e) through (h) for sunset provisions) Credit for investing in renewable energy property. (a) Credit. – A taxpayer that has constructed, purchased, or leased renewable energy property is allowed a credit equal to thirty-five percent (35%) of the cost of the property if the property is placed in service in this State […]
105-129.16B: Recodified as G.S. 105-129.41 by Session Laws 2002-87, s. 2, as amended by Session Laws 2003-416, s. 1, effective August 22, 2002, and applicable to credits for buildings for which a federal tax credit is first claimed for a taxable year beginning on or after January 1, 2002.
105-129.16E. Expired effective January 1, 2010, pursuant to the terms of former subsection (d) of this section.
105-129.16G. Expired effective January 1, 2014, pursuant to the terms of former subsection (b) of this section.
105-129.16H. (For contingent repeal, see subsection (d)) Credit for donating funds to a nonprofit organization or unit of State or local government to enable the nonprofit or government unit to acquire renewable energy property. (a) Credit. – A taxpayer who donates money to a tax-exempt nonprofit organization or a unit of State or local government […]
105-129.16J. Temporary unemployment insurance refundable tax credit. (a) Credit. – A small business that makes contributions during the taxable year to the State Unemployment Insurance Fund with respect to wages paid for employment in this State is allowed a credit equal to twenty-five percent (25%) of the contributions. A small business is a business whose […]
105-129.17. Tax election; cap. (a) Tax Election. – The credit allowed in G.S. 105-129.16A is allowed against the franchise tax levied in Article 3 of this Chapter, the income taxes levied in Article 4 of this Chapter, or the gross premiums tax levied in Article 8B of this Chapter. All other credits allowed in this […]
105-129.18. (See Editor’s note for repeal) Substantiation. To claim a credit allowed by this Article, the taxpayer must provide any information required by the Secretary of Revenue. Every taxpayer claiming a credit under this Article must maintain and make available for inspection by the Secretary of Revenue any records the Secretary considers necessary to determine […]
105-129.19. Report. The Department must include in the economic incentives report required by G.S. 105-256 the following information itemized by credit and by taxpayer: (1) The number of taxpayers that took the credits allowed in this Article. (2) The cost of renewable energy property with respect to which credits were taken. (2a) Repealed by Session […]
