Form Nc-478b - Tax Credit Investing In Machinery And Equipment - 1999
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1
2File with NC-478
1999 Tax Credit
NC-478B
Investing in Machinery and Equipment
North Carolina Department of Revenue
10-99
Legal Name (First 10 Characters)
SSN or FEIN
Requirements (See Article 3A of G.S. Chapter 105 and the Corporate Tax Bulletins for more information.)
Be engaged in a type of business listed below.
Capitalize the M & E if not part of a large
investment ($150 million)
Place purchased or leased machinery and equipment
(M & E) in service in N.C. during the tax year.
If a large investment ($150 million), capitalize the
M & E or lease it from another
Not lease the M & E to another.
Attach a certification of eligibility from the N.C.
Meet the wage standard for the jobs at the location where
Secretary of Commerce.
the M & E are placed in service.
Use a separate Form NC-478B for each tier in which you invested in M & E. If you invested in M & E at more than one
Business Information:
business location in the same tier, complete this section for one location and attach a sheet giving the requested
information for each additional location in the tier.
Type of Business
Qualifying Information
Tier and Status Information
Fill in applicable circle:
Fill in all applicable circles:
Name and Address of Business Location
Air courier services
Tier 1
Development Zone
Central administrative office
Date zone designated
with 40 new jobs
Tier 2
Tier based on letter of commitment
Data processing
Date letter signed
Tier 3
Large Investment ($150 million)
Manufacturing
1999 wage standard for tier
Tier 4
Investment at year-end
of business location
Warehousing
Taxpayer is insurer subject to
Average weekly wage of jobs
Tier 5
Wholesale trade
gross premiums tax
at business location
Part 1.
Computation of Amount Eligible to be Taken in Future Installments
Cost of machinery and equipment purchased or leased and placed in
1.
,
,
.
00
service in N.C. during 1999
2.
Cost of all taxpayer’s machinery and equipment in service in N.C. on
,
,
.
00
the last day of 1999
(Enter here and in Part 4)
3.
Cost of all taxpayer’s machinery and equipment in service in N.C. on
,
,
.
00
the last day of the base year
(From Part 4)
The base year is that year, of the three years immediately preceding the year in
which the machinery and equipment are placed in service, in which the taxpayer
had the most machinery and equipment in service in N.C.
,
,
.
4.
Line 2 minus Line 3
00
5.
Lesser of Line 1 or Line 4; if Line 4 is zero or less, enter zero
,
,
.
00
(This is your eligible investment amount)
6.
Tier threshold
(Enter amount for applicable Tier)
Tier 1
Tier 2
Tier 3
Tier 4
Tier 5
,
,
.
$ -0-
$100,000
$200,000
$500,000
$1,000,000
00
(If M & E placed in service over 2-year period, see instructions)
7.
Line 5 minus Line 6
(Excess of cost over applicable threshold)
,
,
.
00
If number is zero or less, stop here; you are not eligible for the credit
8.
Eligible credit amount for investment in M & E in 1999
,
,
.
00
Multiply Line 7 by 7%; enter here and in M & E Credit History Table in Part 2
9.
Amount of each future installment
,
,
.
00
Divide Line 8 by the number 7 (Credit is taken in 7 installments)
NC
478B
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