Business Incentive and Energy Tax Credits (Limited to 50% of Tax Liability)
The following tax credits are available as incentives to new and expanding businesses or for investing in renewable energy property or low-income housing. If you believe you are entitled to one or more of the tax credits, contact the Department for Form NC-478 Series or you may download the forms from our website at www.dornc.com. Form NC-478 Series is used to calculate and report tax credits that are limited to 50% of your tax less the sum of all other tax credits that you claim. Complete the form and attach it to the front of your income tax return.
Do not enter a qualified business investment tax credit on Line 36. Tax credits for qualified business investments are claimed on Line 24. If you are entitled to one of the following tax credits, enter the amount of the credit on Form D-400TC, Line 36.
• Credit for investing in machinery and equipment
• Credit for creating jobs
• Credit for business property
• Credit for real property
• Credit for technology development
• Credit for interactive digital media
• Credit for investing in central office or aircraft facility property
• Credit for technology commercialization
• Credit for development zone projects
• Credit for renewable fuel facility
• Credit for investing in low-income housing
• Credit for use of North Carolina ports
• Credit for investing in renewable energy property
• Credit for work opportunity
• Credit for constructing a railroad intermodal facility
•Credit for small business employee health benefits
• Credit for biodiesel producers
• Credit for donating funds to a nonprofit organization to enable the nonprofit to acquire renewable energy property.
• Credit for renewable energy property facility
* These credits have expired and are only available for future installments and unused carryforwards.