Form Nc-478k - Tax Credit - Investing In Business Property

NC-478K

2014 Tax Credit

Web

Investing in Business Property

9-14

North Carolina Department of Revenue

Legal Name (First 10 Characters)

SSN or FEIN

Part 1.

Computation of Credit Amount for Investing in Business Property in 2013

(The credit for investing

in business property is repealed effective for business activities that occur on or after January 1, 2014. Taxpayers may

continue to take the remaining installments and carryforwards of prior years’ credits by completing Parts 3 and 4.)

1. County where eligible business property is placed in service

2. Cost of eligible business property purchased or leased and placed

in service in N.C. during 2013

3. Cost of all eligible business property in service in N.C. on the last

day of 2013

(Enter here and in Part 2)

4. Cost of all eligible business property in service in N.C. on the last

day of the base year

(From Part 2, see instructions)

5. Line 3 minus Line 4

(If Line 5 is zero or less, enter zero)

6. Eligible Investment Amount Statewide

(Enter the lesser of Line 2 or Line 5)

7. Amount of Line 6 located in this county but NOT in an agrarian growth

zone, urban progress zone, or port enhancement zone

Tier threshold for county

(If property placed in service over 2-year period, see instructions)

Tier 3

Tier 1

Tier 2

$2,000,000

$ -0-

$1,000,000

9. Excess of eligible investment amount over applicable threshold

Line 7 minus Line 8. If zero or less, skip Lines 9 and 10 and go to Line 11.

10. Credit amount for investing in business property in this county in

2013 NOT located in an agrarian growth zone, urban progress zone,

or port enhancement zone

Multiply Line 9 by percentage for the applicable Tier from the table below.

Tier 1

Tier 2

Tier 3

3.5%

11.

Amount of Line 6 located in this county AND in an agrarian growth

zone, urban progress zone, or port enhancement zone

12.

Multiply Line 11 by 7%

13.

Total Credit for Investing in Business Property in This County in 2013

Add Line 10 and Line 12; enter here and in the Business Property

Credit History Table Part 4

14.

Amount of each future installment

Divide Line 13 by the number 4 (Credit is taken in 4 installments)

Part 2. Business Property in Service in N.C. on Last Day of Tax Year

Tax Year

Amount

Tax Year

Amount

Tax Year

Amount

Tax Year

Amount

2010

2011

2012

2013

Form Nc-478k - Tax Credit - Investing In Business Property - 2014

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