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File with NC-478

1999 Tax Credit

NC-478E

Investing in Central Administrative Office Property

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.)

Hire at least 40 additional full-time employees in

Purchase or lease real property in N.C. and begin to use it as a

N.C. to fill new positions at the office

Central Administrative Office. A Central Administrative Office is:

Meet the wage standard for the new jobs.

A corporate, subsidiary, or regional managing office.

Attach a certification of eligibility from the N.C.

A training center at the hub of an interstate passenger air carrier.

Secretary of Commerce.

Type of Business

Qualifying Information

Tier and Status Information

Fill in applicable circle:

Fill in all applicable circles:

Name and Address of Central Office

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

1999 wage standard for tier

Tier 3

of office location

Large Investment ($150 million)

Manufacturing

Average weekly wage of jobs

Tier 4

Investment at year-end

Warehousing

at office location

Taxpayer is insurer subject to

Number of full-time employees

Tier 5

Wholesale trade

gross premiums tax

in N.C. before 40 new jobs

Part 1.

Computation of Amount Eligible to be Taken in Future Installments

Cost of central administrative office property purchased or leased and placed

in service in N.C. during 1999

Cost of all central administrative office property used in N.C. on the last

day of 1999

(Enter here and in Part 4)

Cost of all central administrative office property used in N.C. on 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

credit is claimed, in which the taxpayer had the most central administrative office property

in N.C.

Line 2 minus Line 3, but not less than zero

Enter the lesser of Line 1 or Line 4

Multiply Line 5 by 7.0%

5 0 0 0 0 0

Maximum credit

Enter the lesser of Line 6 or Line 7

Percentage of square feet of property used as central administrative office property

10.

Eligible credit amount for investing in central administrative property in 1999

Multiply Line 8 by Line 9; enter here and in Credit History Table in Part 2

11.

Amount of each future installment

Divide Line 8 by the number 7 (Credit is taken in 7 installments)

478E

Form Nc-478e - Tax Credit Investing In Central Administrative Office Property - 1999

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