105-129.50. (See note for repeal) Definitions. The definitions in section 41 of the Code apply in this Article. In addition, the following definitions apply in this Article: (1) Development tier one area. – Defined in G.S. 143B-437.08. (2) Full-time job. – Defined in G.S. 105-129.81. (3) Reserved. (4) North Carolina university research expenses. – Any […]
105-129.51. (See note for repeal) Taxpayer standards and sunset. (a) A taxpayer is eligible for a credit allowed in this Article if it satisfies the requirements of G.S. 105-129.83(c), (d), (e), (f), and (g) relating to wage standard, health insurance, environmental impact, safety and health programs, and overdue tax debts, respectively. (b) This Article is […]
105-129.52. (See note for repeal) Tax election; cap. (a) Tax Election. – A credit allowed in this Article is allowed against the franchise tax levied in Article 3 of this Chapter or the income taxes levied in Article 4 of this Chapter. The taxpayer must elect the tax against which a credit will be claimed […]
105-129.53. (See note for repeal) Substantiation. To claim a credit allowed by this Article, the taxpayer must provide any information required by the Secretary. Every taxpayer claiming a credit under this Article must maintain and make available for inspection by the Secretary any records the Secretary considers necessary to determine and verify the amount of […]
105-129.54. (See note for repeal) 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 a credit allowed in this Article, itemized by the categories of small business, low-tier, university research, Eco-Industrial Park, and other. […]
105-129.55. (See note for repeal) Credit for North Carolina research and development. (a) Qualified North Carolina Research Expenses. – A taxpayer that has qualified North Carolina research expenses for the taxable year is allowed a credit equal to a percentage of the expenses, determined as provided in this section. Only one credit is allowed under […]
