INCENTIVE DESCRIPTION

State: NC
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Investment Credits
Description: 1) CREDIT FOR INVESTING IN BUSINESS PROPERTY- Eligible tax payers may claim a credit based on a percentage of the cost of capitalized tangible personal property that is placed in service during the taxable year, in excess of an applicable threshold. This credit is taken in equal installments over four years, beginning the year after the property is first placed in service. The credit percentage (3.5% - 7%) and investment threshold ($0 - $2 million) are based on the tier designation of the county where the property is placed in service and whether within an Urban Progress Zone or Agrarian Growth Zone. Unused credits may be carried forward for up to 5 years. Longer carry forward periods are available to taxpayers that invest at least $150 million over a 2 year period. 2) CREDIT FOR INVESTMENT IN REAL PROPERTY- Eligible taxpayers that invest at least $10 million in real property within a 3 year period and create at least 200 new jobs within 2 years at an establishment located in a Tier 1 county are allowed a credit equal to 30% of the eligible real property investment. This credit is taken in equal installments over seven years, beginning the year after the property is used in an eligible business. Unused credits may be carried forward for 15 years. Longer carry forward periods are available to taxpayers that invest at least $150 million over a 2 year period.
Eligibility Requirements: 1) Taxpayers must meet specific requirements including type of business, wage standards, health care, environmental and OSHA requirements. 2) Taxpayers must meet specific requirements including type of business, wage standards, health care, environmental and OSHA requirements. Additionally, the tax payer must obtain a written determination from the Department of Commerce.
Geographic Restrictions: Statewide
Granting Authority: State of North Carolina


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.