Form Cd-425 - Corporate Tax Credit Summary - 2005
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1
22005 Corporate Tax Credit Summary
CD-425
Web
North Carolina Department of Revenue
10-05
Legal Name (First 10 Characters)
Federal Employer ID Number
Part 1. Franchise Tax Credits Not Subject to 50% of Tax Limit
(Attach schedule for each credit.)
1. Short period credit for change in income year
,
,
.
365
(Number of Days
1.
00
in Short Period)
DAYS
Prior Year’s Franchise
365
Tax Liability
,
,
.
2. Major computer manufacturing facility
2.
00
3. Other franchise tax credits not subject to 50% of tax limit
Fill in applicable circles:
,
,
.
1/2 of the amount of piped natural gas tax paid under G.S. 105-187.43
3.
00
Investing in recycling facilities
Expenses related to dividends
(Bank/Electric Holding Co. only)
,
,
.
4.
Total franchise tax credits not subject to 50% of tax limit (
4.
Add Lines 1, 2, and 3)
00
Part 2. Computation of Franchise Tax Credits Taken in 2005
,
,
.
Total franchise tax due
5.
5.
(From Form CD-405 or CD-401S, Schedule A, Line 5)
00
,
,
.
6.
Add Lines 2 and 3, enter result here
6.
00
,
,
.
7.
Enter the lesser of Line 5 or 6
7.
00
,
,
.
8. Total franchise tax credits subject to 50% of tax limit taken in 2005
8.
00
(From Form NC-478, Part 3, Line 31)
,
,
.
9.
Enter amount from Line 1
9.
00
Total Franchise Tax Credits Taken in 2005
10.
,
,
.
10.
Add Lines 7 through 9, enter the result here and on
00
Form CD-405 or CD-401S, Schedule A, Line 6b
Part 3. Income Tax Credits Not Subject to 50% of Tax Limit
(Attach schedule for each credit.)
(S Corporations enter only amount of income tax credits allocated to nonresident shareholders filing composite.)
,
,
.
11.
Rehabilitating an income-producing historic structure
11.
00
(Also complete Part 5, Line 30)
,
,
.
12.
Rehabilitating a nonincome-producing historic structure
12.
00
(Also complete Part 5, Line 31)
,
,
.
13.
Major computer manufacturing facility
13.
00
,
,
.
14. Certain real property donations
14.
00
,
,
.
15. Savings and loan supervisory fees
15.
00
16. Other income tax credits not subject to 50% of tax limit
Fill in applicable circles:
Cogeneration Plant
Poultry Composting
Handicapped Dwelling
,
,
.
Conservation Tillage
Investing in Recycling Facilities
16.
00
Gleaned Crops
Qualified Business Investments
(S Corporations only)
Expenses Related to Dividends
Subscriber Charges
(Bank/Electric Holding Co. Only)
,
,
.
17. Income tax credits not subject to 50% of tax limit carried over from previous years
17.
00
(Do not include any carryover of income tax credits claimed on Form NC-478)
,
,
.
18.
Reinvestments by major recycling facilities
18.
00
,
,
.
19.
19.
Total income tax credits not subject to 50% of tax limit
(Add Lines 11 through 18)
00
CD
Form CD-425 must be attached to the last page of Form CD-405
or CD-401S if a tax credit is claimed.
425
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