INCENTIVE DESCRIPTION

State: NC
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Property Tax Credits
Description: REAL PROPERTY TAX CREDIT - Eligible businesses may qualify for a credit of 30% of the company's eligible investment in such items as land, infrastructure and construction of buildings and fixtures. The credit is based on location and is taken in equal installlments over 7 years. Unused credits may be carried forward for 20 years. This credit, being part of the William S. Lee Act, has been replaced with a new system of credits beginning January 1, 2007. The earlier credits are available for the 2007 tax year only if a company signs a letter of commitment with the Department of Commerce prior to December 31, 2006. The only changes in the new credit is a change in eligible locations and the carry-forward period is limited to 15 years.
Eligibility Requirements: Must invest a minimum of $10 million in real property. Must hire a minimum of 200 workers over a two-year period. Must have a certification by the Secretary of Commerce.
Geographic Restrictions: Statewide: Tier 1 and Tier 2 Counties
Granting Authority: State of North Carolin


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.