Form Cd-425 - Corporate Tax Credit Summary - 2011
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1
22011 Corporate Tax Credit Summary
CD-425
Web
North Carolina Department of Revenue
10-11
Legal Name (First 10 Characters)
Federal Employer ID Number
Form CD-425 must be attached to the last page of
Form CD-405 or CD-401S if a tax credit is claimed. Attach
separate schedules to substantiate any credit claimed.
Part 1.
Franchise Tax Credits Not Subject to 50% of Tax Limit
1. Short period credit for change in income year
,
,
.
365
(Number of Days
1.
00
in Short Period)
DAYS
Prior Year’s Franchise
365
.
,
,
Tax Liability
2. Major computer manufacturing facility
2.
00
.
,
,
3. Revitalizing an income-producing historic mill facility
3.
(Also complete Part 3, Line 15a)
00
.
,
,
4. Revitalizing a nonincome-producing historic mill facility
(Also complete Part 3, Line 16a)
4.
00
5. Other franchise tax credits not subject to 50% of tax limit
Fill in applicable circles:
1/2 of the amount of piped natural gas tax paid under G.S. 105-187.43
,
,
.
5.
Investing in recycling facilities
00
Expenses related to dividends
(Bank/Electric Holding Co. only)
Additional annual report fee paid
(LLC subject to franchise tax only)
.
,
,
6.
Total franchise tax credits not subject to 50% of tax limit
6.
00
(Add Lines 1 through 5)
Part 2. Computation of Franchise Tax Credits Taken in 2011
,
,
.
7. Total franchise tax due
7.
00
(From Form CD-405 or CD-401S, Schedule A, Line 5)
,
,
.
8.
8.
Nonrefundable franchise tax credits
00
(From Part 1, Lines 2 through 5)
.
,
,
9.
Enter the lesser of Line 7 or 8
9.
00
.
,
,
10.
Total franchise tax credits subject to 50% of tax limit taken in 2011
10.
00
(From Form NC-478, Part 3, Line 45)
.
,
,
11.
Refundable franchise tax credits
11.
00
(From Part 1, Line 1)
,
,
.
12. Total Franchise Tax Credits Taken in 2011 (
Add Lines 9 through 11,
12.
00
enter the result here and on Form CD-405 or CD-401S, Schedule A, Line 7.)
Part 3.
Income Tax Credits Not Subject to 50% of Tax Limit
S Corporations enter only the amount of tax credits attributable to nonresidents filing composite on Lines 13 through 23.
(Enter expenses on Lines 13a, 14a, 15a, and 16a only in the first year the credit is taken.)
13. Rehabilitating an income-producing historic structure
.
.
,
,
,
,
a. Enter qualified rehabilitation
00
00
b. Enter credit amount
expenditures
14.
Rehabilitating a nonincome-producing historic structure
.
.
,
,
,
,
b. Enter installment
a. Enter rehabilitation expenses
00
00
amount of credit
15.
Revitalizing an income-producing historic mill facility
.
.
,
,
,
,
a. Enter qualified rehabilitation
00
00
b. Enter credit amount
expenditures
16.
Revitalizing a nonincome-producing historic mill facility
.
.
,
,
,
,
b. Enter installment
a. Enter rehabilitation expenses
00
00
amount of credit
(Part 3 continued on Page 2)
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