INCENTIVE DESCRIPTION

State: NC
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Other Tax Credits
Description: 1) CENTRAL ADMINISTRATIVE OFFICE TAX CREDIT - A credit against income/franchise tax is allowed for central administrative office properties that are leased or purchased. The amount of the credit is equal to up to 7% of the real property investment. The credit is capped at a half-million dollars per tax payer and is taken over 7 years. 2) RENEWABLE FUEL PRODUCTION CREDIT - A taxpayer that constructs and places in service a commercial facility for processing renewable fuel may be eligible for a credit of 25% of the cost of constructing and equipping such facililty. A taxpayer claiming this credit may not claim the Alternative Production credit on the same facility. 3) ALTERNATIVE PRODUCTION CREDIT - A taxpayer that constructs and places in service three or more commercial facilities for processing renewable fuel may be eligible for a credit of 35% of the cost of constructing and equipping such facilities. A taxpayer claiming the Alternative Production credit may not claim the Renewable Fuel Production Credit.
Eligibility Requirements: 1) Taxpayers must meet specific requirements including type of business, wage standards, health care coverage, has complied with state environmental rules and OSHA regulations. Taxpayer must create 75 new jobs over two years for the new credit beginning January 1, 2007. 3) A minimum investment of $400 million is required over a five-year period.
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.