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
Number of Installments
Carry-forward Years
Statute
DOR Tax Forms Required
Creating Jobs (Article 3A)
62
711,909
January 1, 2007
4
5
§ 105-129.8
NC-478; NC-478A
Machinery and Equipment Investment (Article 3A)
297
12,276,373
January 1, 2007
7
5
§ 105-129.9
NC-478; NC-478B
Research and Development (Article 3A)
116
2,556,993
January 1, 2007
NA
15
§ 105-129.10
NC-478
Investing in Central Office or Aircraft Facility (Article 3A)
2
37
January 1, 2007
7
5
§ 105-129.12
NC-478; NC-478E
Technology Commercialization (Article 3A)
0
0
January 1, 2007
NA
20
§ 105-129.9A
NC-478
Substantial Investment in Other Property (Article 3A)
27
138,019
January 1, 2007
7
20
§ 105-129.12A
NC-478
Renewable Energy Property (Article 3B)
5,988
245,018,585
January 1, 2016
5 for business-related property
5
§ 105-129.16A
NC-478; NC-478G
Constructing Renewable Fuel Facilities (Article 3B)
16
260,838
January 1, 2014
7
5
§ 105-129.16D
NC-478
Small Business Employee Health Insurance (Article 3B)
133
75,244
January 1, 2010
NA
5
§ 105-129.16E
NC-478
Biodiesel Producers (Article 3B)
4
40,806
January 1, 2014
NA
5
§ 105-129.16F
NC-478
Work Opportunity (Article 3B)
65
313,542
January 1, 2014
NA
5
§ 105-129.16G
NC-478
Donating Funds to Non-Profit Organization (Article 3B)
209
98,444
January 1, 2016
NA
5
§ 105-129.16H
NC-478
Facility for Manufacturing Renewable Energy Property (Article 3B)
46
264,272
January 1, 2014
5
5
§ 105-129.16I
NC-478
Investing in Large or Major Recycling Facility (Article 3C)
2
4,140,232
None
NA
25
§ 105-129.27
CD-425
Historic Rehabilitation (Article 3D):
Income-Producing Property
257
19,338,297
January 1, 2015
5
5
§ 105-129.35
D-400TC or CD-425
Non-Income-Producing Property
661
6,079,401
January 1, 2015
5
5
§ 105-129.36
D-400TC or CD-425
N.C. Research and Development (Article 3F)
1253
41,939,508
January 1, 2016
NA
15
§ 105-129.55
NC-478; NC-478I
Interactive Digital Media (Article 3F)
25
130,005
January 1, 2014
NA
15
§ 105-129.56
NC-478; NC-478I
Mill Rehabilitation (Article 3H):
Income-Producing Property
190
34,297,924
January 1, 2015
NA
9
§ 105-129.71
D-400TC or CD-425
Non-Income-Producing Property
49
505,845
January 1, 2015
5
9
§ 105-129.72
D-400TC or CD-425
Creating Jobs (Article 3J)
538
18,827,951
January 1, 2014
4
5
§ 105-129.87
NC-478; NC-478J
Investing in Business Property (Article 3J)
679
60,841,554
January 1, 2014
4
5
§ 105-129.88
NC-478; NC-478K
Investing in Real Property (Article 3J)
17
915,961
January 1, 2014
7
15
§ 105-129.89
NC-478; NC-478L
Railroad Intermodal Facility (Article 3K)
1
945,203
January 1, 2038
NA
10
§ 105-129.96
NC-478
NC State Ports Authority Charges
7
131,080
January 1, 2014
NA
5
§ 105-130.41 & § 105-151.22
NC-478
Cigarette Exportation
2
11,588,728
January 1, 2018
NA
10
§ 105-130.45
NC-478
Cigarette Exportation while Increasing Employment
0
0
January 1, 2018
NA
10
§ 105-130.46
NC-478
Film Production Credit
5
15,219,174
January 1, 2015
NA
NA
§ 105-130.47 & § 105-151.29
NC-415
Film and Entertainment Grant
1
5,000,000
July 1, 2020
NA
NA
§ 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
NA
NA
§ 105-164.14A.(a)(1)
E-588B
Major Recycling Facility
0
0
None
NA
NA
§ 105-164.14A.(a)(2)
E-585S
Business in Low-Tier Area
0
0
January 1, 2014
NA
NA
§ 105-164.14A.(a)(3)
E-585S
Motorsports Team or Sanctioning Body
6
57,236
January 1, 2020
NA
NA
§ 105-164.14A.(a)(4)
E-588A
Professional Motorsports Team
12
1,320,953
January 1, 2020
NA
NA
§ 105-164.14A.(a)(5)
E-585S
Analytical Services Business
0
0
January 1, 2014
NA
NA
§ 105-164.14A.(a)(6)
E-588D
Railroad Intermodal Facility
0
0
January 1, 2038
NA
NA
§ 105-164.14A.(a)(7)
E-585S
Certain Industrial Facilities Refunds (Sales & Use Tax)
0
0
January 1, 2014
NA
NA
§ 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
7
1,904,000
9
1,866,448
Investing in Real Property
0
0


Archives

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:

(1) 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.
(2) 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.
(3) extension of sunset to Jan. 1, 2010 for a taxpayer that qualifies as an eligible major industry.
(4) 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.