Form Cd-425 - Corporate Tax Credit Summary

Legal Name

FEIN

Page 2,

CD-425, Web, 10-11

Part 3. Income Tax Credits Not Subject to 50% of Tax Limit

(continued)

S Corporations enter only the amount of tax credits attributable to nonresidents filing composite on Lines 13 through 23.

17.

Major computer manufacturing facility

17.

18. Certain real property donations

18.

19. Savings and loan supervisory fees

19.

20.

Recycling oyster shells

20.

21. Other income tax credits not subject to 50% of tax limit

Fill in applicable circles:

Gleaned Crops

Cogeneration Plant

Subscriber Charges

Conservation Tillage

Investing in Recycling Facilities

21.

Handicapped Dwelling

Qualified Business Investments

(S Corporations only)

Poultry Composting

Expenses Related to Dividends

(Bank/Electric Holding Co. Only)

22. Income tax credits not subject to 50% of tax limit carried over from previous years

22.

(Do not include any carryover of income tax credits claimed on Form NC-478)

23.

Small business unemployment insurance

23.

If you meet the definition of a small business and you made contributions to the State

Unemployment Insurance Fund during the tax year, multiply the amount of contributions by 25%.

24.

Total income tax credits not subject to 50% of tax limit

(Add Lines 13 through 23)

Part 4.

Computation of Income Tax Credits Taken in 2011

N.C. net income tax due

25.

(From Form CD-405, Schedule B, Line 26 or CD-401S, Schedule B, Line 21)

26. Nonrefundable income tax credits

26.

Add Lines 13 through 22

27. Enter the lesser of Line 25 or 26

27.

28. Total income tax credits subject to 50% of tax limit taken in 2011

28.

(From Form NC-478, Part 3, Line 45)

29. Refundable income tax credits

29.

Enter amount from Line 23

30. Add Lines 27 through 29

30.

31. Income tax credits not subject to G.S. 105-130.5(a)(10) adjustment

31.

Add Lines 18 through 20

32. Income tax credits subject to G.S. 105-130.5(a)(10) adjustment

32.

Subtract Line 31 from Line 30

33. Income tax credit adjustment

(C Corporations only)

33.

Multiply Line 32 by 6.90%

34.

Total Income Tax Credits Taken in 2011

C Corporations subtract Line 33 from Line 30, enter result here and on

Form CD-405, Schedule B, Line 29e. S Corporations with nonresident

34.

shareholders filing composite enter the amount on Line 30 here and on

Form CD-401S, Schedule B, Line 24e.

Form CD-425 must be attached to the last page of Form CD-405 or CD-401S if a tax credit is claimed.

Failure to substantiate a tax credit may result in the disallowance of that credit.

Form Cd-425 - Corporate Tax Credit Summary - 2011 Page 2

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