Tax Law Changes - North Carolina Department Of Revenue - 2012 Page 15
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41all of the area is located within 25 miles of a State port and is capable of being used to
enhance port operations, and (3) every census tract and census block group in the area
has at least 11% of households with incomes of $15,000 or less.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 6,
S.L. 11-302.)
G.S. 105-129.81(20a) – Technical Change; Port Enhancement Zone Definition:
This is a technical correction to clarify the definition of port enhancement zone in G.S.
143B-437.013(a). A port enhancement zone is an area that meets all of these
conditions: (1) it is comprised of part or all of one or more contiguous census tracts,
census block groups, or both, in the most recent federal decennial census, (2) all of the
area is located within 25 miles of a State port and is capable of being used to enhance
port operations, and (3) every census tract and census block group in the area has at
least 11% of households with incomes of $15,000 or less. The italicized text was added
by this legislation.
(Effective for taxable years beginning on or after January 1, 2013 HB 1015, s. 6.(a),
S.L. 12-74.)
G.S. 105-129.82(a) – Sunset Extended for Credits for Growing Businesses: This
subsection was amended to extend the sunset date for Article 3J credits to January 1,
2014. The sunset date had been January 1, 2013.
(Effective June 20, 2012, HB 1025, s. 5, S.L. 12-36.)
G.S. 105-129.83(c) – Eligibility, Wage Standard: This subsection was amended to
add a port enhancement zone to the list of areas that will be treated as a tier one area
for purposes of the wage standard. A taxpayer is not required to meet a wage standard
in a tier one area.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 7,
S.L. 11-302.)
G.S. 105-129.83(l) – Eligibility, Planned Expansion: A taxpayer that signs a letter of
commitment with the Department of Commerce calculates its credit based on the tier or
zone designation in place at the time the letter is signed. This subsection was amended
to add a port enhancement zone to the list of zones.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 7,
S.L. 11-302.)
G.S. 105-129.84(c) – Carryforward of Article 3J Tax Credits: Legislation was
enacted to provide that, notwithstanding the investment requirement of G.S. 105-
129.84(c), if the Secretary of Commerce makes a written determination that the
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