2001 Tax Credit
File with NC-478
NC-478F
Investing in Business Property
North Carolina Department of Revenue
9-01
Legal Name (First 10 Characters)
SSN or FEIN
Requirements (See Article 3B of G.S. Chapter 105 and the Corporate Tax Bulletins for more information.)
Business property is tangible personal property used in connection with a business or for the production of income.
It does not include certain luxury passenger automobiles or watercraft. Neither does it include real property, such as
townhouses or buildings.
Purchase or lease business property and place it
Name, Address, and County of Business Location
in service in N.C. during the tax year
Obtain a written certification from the lessor of leased
property that the lessor will not capitalize the property
Capitalize the property; property expensed under
Section 179 of the Code is not eligible
Part 1.
Computation of Eligible Credit Amount for Investing in Business Property in 2001
(The first installment of this credit may be taken on the 2001 tax return.)
,
,
.
1.
Cost of business property purchased or leased and placed in service during 2001
00
Enter here and on Form NC-478, Part 4, Line 30
,
,
.
2. Multiply Line 1 by 4.5%
00
,
.
4
5 0
0
3.
Maximum credit
00
,
.
4. Eligible Credit Amount for Investing in Business Property in 2001
00
Enter the lesser of Line 2 or Line 3 here and in the Credit History table in Part 3
,
,
.
5.
Amount of each installment
00
Divide Line 4 by the number 5 (Credit is taken in 5 installments)
NC
478F