Purpose of the NC-478 Series
Use the NC-478 series to calculate and report tax credits that are limited to 50% of tax less the sum of all other tax credits claimed. The NC-478 letter series forms are used to calculate the specific credits available without regard to the 50% limitation and are designed to report a taxpayer’s activity at an establishment or at a county level. If a taxpayer engages in an activity that qualifies for a credit at more than one establishment or county, a separate form must be filed for each credit. For additional information regarding the calculation of tax credits for multiple establishments or multiple counties, see the specific instructions for each credit. Note. The NC-478I is designed to report a taxpayer’s activity throughout the State.