Form Cd-425 - Corporate Tax Credit Summary November 2006

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2006 Corporate Tax Credit Summary
CD-425
Web
North Carolina Department of Revenue
11-06
Form CD-425 must be attached to the last page of Form
Legal Name (First 10 Characters)
Federal Employer ID Number
CD-405 or CD-401S if a tax credit is claimed.
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. Revitalizing an income-producing historic mill facility
3.
(Also complete Part 6, Line 36)
00
.
,
,
4. Revitalizing a nonincome-producing historic mill facility
(Also complete Part 6, Line 37)
4.
00
5. 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
5.
00
Investing in recycling facilities
Expenses related to dividends
(Bank/Electric Holding Co. only)
Additional annual report fee paid
(LLC subject to franchise tax only)
.
,
,
6.
Total franchise tax credits not subject to 50% of tax limit
6.
00
(Add Lines 1 through 5)
Part 2. Computation of Franchise Tax Credits Taken in 2006
.
,
,
00
7.
Total franchise tax due
7.
(From Form CD-405 or CD-401S, Schedule A, Line 5)
,
,
.
8.
8.
Add Lines 2 through 5, enter result here
00
,
,
.
9.
Enter the lesser of Line 7 or 8
9.
00
.
,
,
10. Total franchise tax credits subject to 50% of tax limit taken in 2006
10.
00
(From Form NC-478, Part 3, Line 31)
.
,
,
11.
Enter amount from Line 1
11.
00
12.
Total Franchise Tax Credits Taken in 2006
,
,
.
Add Lines 9 through 11, enter the result here and on
12.
00
Form CD-405 or CD-401S, Schedule A, Line 7
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.)
.
,
,
13. Rehabilitating an income-producing historic structure
13.
00
(Also complete Part 5, Line 34)
.
,
,
14.
Rehabilitating a nonincome-producing historic structure
14.
00
(Also complete Part 5, Line 35)
.
,
,
15.
Revitalizing an income-producing historic mill facility
(Also complete Part 6, Line 36)
15.
00
.
,
,
16.
Revitalizing a nonincome-producing historic mill facility
(Also complete Part 6, Line 37)
16.
00
,
,
.
17.
Major computer manufacturing facility
17.
00
,
,
.
18. Certain real property donations
18.
00
,
,
.
19. Savings and loan supervisory fees
19.
00
(Part 3 continued on Page 2)

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