Form Nc-478b Draft - Tax Credit Investing In Machinery And Equipment - 2011

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2011 Tax Credit
NC-478B
Web
Investing in Machinery and Equipment
11-11
North Carolina Department of Revenue
Legal Name (First 10 Characters)
NAICS Code of Primary Business
SSN or FEIN
Part 1.
Computation of Credit Amount for Investing in M&E in 2008
For most taxpayers, the credit for investing in machinery and equipment expired for machinery and equipment
placed in service on or after January 1, 2007. Taxpayers who placed machinery and equipment in service prior
to January 1, 2007 may continue to take the remaining installments and carryforwards of prior years’ credits by
completing Parts 2 and 3. (See the instructions for NC-478B for exceptions to the sunset and further instructions.)
.
1.
Cost of eligible M&E purchased or leased and placed
00
in service in N.C. during 2007
.
2.
Cost of all eligible M&E in service in N.C. on the last day of 2007
00
Enter here and in Part 3
.
3.
Cost of all eligible M&E in service in N.C. on the last day
00
of the base year
(From Part 3, see instructions)
.
4. Line 2 minus Line 3 (
If Line 4 is zero or less, enter zero.)
00
.
5.
Eligible Investment Amount Statewide
(Enter the lesser of Line 1 or Line 4)
00
.
6.
Eligible Investment Amount at this Establishment
00
7.
Tier threshold (
If M&E placed in service over 2-year period, see instructions.)
.
Tier 1, Agrarian, or
Tier 2
Tier 3
Tier 4
Tier 5
00
Development Zone
$100,000
$200,000
$1,000,000
$2,000,000
$ -0-
.
8.
Excess of eligible investment amount over applicable threshold
00
Line 6 minus Line 7. If zero or less, stop here; you are not eligible for the credit.
.
9.
Credit Amount for Investment in M&E at this Establishment in 2007
00
Multiply Line 8 by percentage for the applicable Tier from the table below; enter result here
and in the M&E Credit History Table in Part 5
Tier 1, Agrarian, or
Tier 2
Tier 3
Tier 4
Tier 5
Development Zone
7%
7%
6%
5%
4%
.
10.
Amount of each future installment
00
Divide Line 9 by the number 7 (Credit is taken in 7 installments)
File with NC-478

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