Tax Law Changes - North Carolina Department Of Revenue - 2012 Page 17
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41G.S. 105-129.87(c) – Credit for Creating Jobs, Calculation: A job is considered to be
located in a county or zone if more than 50% of the employee‟s duties are performed
within the county or zone. This subsection was amended to add the port enhancement
zone to the list of areas.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 8,
S.L. 11-302.)
G.S. 105-129.87(e) – Credit for Creating Jobs, Transferred Jobs: When a job is
transferred out of a county or zone to a higher tier, the remaining installments of the
credit are allowed only to the extent the credit would have been allowed if the job was
created in the area to which it was moved. Likewise, if a job is transferred from a higher
tier to a lower tier or zone, the remaining installments of the credit are calculated as if
the job was created in the lower tier or zone. This subsection was amended to add the
port enhancement zone to the list of areas.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 8,
S.L. 11-302.)
G.S. 105-129.88(a) – Credit for Investing in Business Property, General Credit:
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 determining the applicable percentage
to use in the computation of the business property credit.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 9,
S.L. 11-302.)
G.S. 105-129.88(c) – Credit for Investing in Business Property, Threshold: 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 determining the minimum investment
required for credit eligibility. Tier one requires no minimum investment.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 9,
S.L. 11-302.)
G.S. 105-129.88(e) – Credit for Investing in Business Property, Transferred
Property: When property is transferred from a county or zone to a higher tier,
remaining installments of the credit are allowed only to the extent they would have been
allowed if the property was initially placed in the area to which it was moved. Likewise,
if property is transferred from a higher tier to a lower tier or zone, the remaining
installments of the credit are computed as if the property was originally placed in the
lower tier or zone. This subsection was amended to add the port enhancement zone to
the list of areas.
(Effective for taxable years beginning on or after January 1, 2013; HB 751, s. 9,
S.L. 11-302.)
11
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