Form D-403tc - Partnership Tax Credit Summary

D-403TC

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2014 Partnership Tax

10-14

Credit Summary

File this form with Form D-403, Partnership Income Tax Return, if the partnership claims a tax credit and there are nonresident partners whose share of

the tax due is being paid by the manager of the partnership. Do not file the form if all partners are residents of North Carolina or are nonresidents whose

share of the tax is not being paid by the manager. Include in the lines below only the portion of each credit allocated to nonresident partners whose share

of the tax due is being paid by the manager of the partnership. Failure to attach this form may result in disallowance of the tax credit.

Legal Name (First 10 Characters)

Federal Employer ID Number

Part 1.

Tax Credits Not Subject to 50% of Tax Limit (Attach schedule for each credit.)

1. Rehabilitating an Income-Producing Historic Structure

(Also complete Part 4, Line 12 only in the first year the credit is taken)

2. Rehabilitating a Nonincome-Producing Historic Structure

(Also complete Part 4, Line 13 only in the first year the credit is taken)

3. Rehabilitating an Income-Producing Historic Mill Facility

(Also complete Part 4, Line 14)

4. Rehabilitating a Nonincome-Producing Historic Mill Facility

(Also complete Part 4, Line 15 only in the first year the credit is taken)

5. Qualified Business Investments

6. Tax Credits Carried Over From Previous Year, if any.

Do Not Include Any Carryover of Tax Credits Claimed

on Form NC-478

Total Tax Credits

(Add Lines 1 through 6)

Amount of Income Tax Due

(Add the amounts on Form D-403, Part 3, Line 18 for each nonresident partner)

Enter the lesser of Line 7 or Line 8

Part 2.

Tax Credits Subject to 50% of Tax Limit

10. Total Tax Credits Subject to 50% Limit Taken in Current Period

10.

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

Part 3. Total of Credits Applied to Current Year

11.

Add Lines 9 and 10

11.

(Allocate the total credit on this line among the nonresident partners

and include in the total on Form D-403, Part 3, Line 19)

Part 4.

Expenses Incurred for Which the First Installment of a Historic Rehabilitation Tax Credit is Taken in 2014

(Complete Lines 12, 13, 14 or 15 only if a tax credit on Part 1, Line 1 through Line 4 is claimed. Exception: The entire credit claimed for

Line 3 above is claimed in the year the eligible site is placed into service.)

Enter the amount of qualified rehabilitation expenditures for which the

12.

income-producing credit on Line 1 is taken.

Enter the amount of rehabilitation expenses for which the

13.

nonincome-producing credit on Line 2 is taken.

Enter the amount of qualified rehabilitation expenditures for which the

14.

income-producing credit on Line 3 is taken.

Enter the amount of rehabilitation expenses for which the

15.

nonincome-producing credit on Line 4 is taken.

Form D-403tc - Partnership Tax Credit Summary - 2014

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