Form Nc-478 - Summary Of Tax Credits Limited To 50% Of Tax - 1999 Page 2
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1
2NC-478 Reverse
Part 2.
Computation of 50% Limit
Franchise
Income
.
.
9.
Amount of Franchise and Income Tax Due
00
00
.
.
10.
Enter Amount of Credits Not Subject to 50% Limit
00
00
.
.
11.
Line 9 minus Line 10, but not less than zero
00
00
.
.
12.
Multiply Line 11 by 50%
00
00
13.
.
Enter the Lesser of Line 8 or Line 12
.
00
00
If Line 8 exceeds Line 12, complete Part 3; otherwise,
enter the amount of Line 13 on Line 21
Part 3.
Amount of Each Credit Taken in the Current Period
Allocate the total credits available in Part 1 by entering the amount of each credit actually taken in the current period.
,
,
.
,
,
.
14.
Creating Jobs
00
00
,
,
.
,
,
.
15.
Investing in Machinery and Equipment
00
00
,
,
.
,
,
.
16.
Research and Development
00
00
,
,
.
,
,
.
17.
Worker Training
00
00
18.
Investing in Central Administrative Office Property
,
,
.
,
,
.
00
00
19.
,
,
.
,
,
.
Investing in Business Property
00
00
20.
Other Tax Credits Subject to 50% Limit
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
,
,
.
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
00
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
a.
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
,
,
.
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
00
b.
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
21.
Total Tax Credits Subject to 50% Limit
,
,
,
,
.
.
Taken in Current Period
00
00
(Must equal Line 13)
Part 4.
Cost of Business Property
Complete Line 22 only if you claimed a tax credit for Investing in Business Property on Line 6.
,
,
,
22.
Cost of business property placed in service during the current
.
period for which the credit on Line 6 is allowed
00
(From NC-478F, Part 1, Line 1)
NC
478
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