North Carolina General Statutes 105-129.85. (See notes) Fees and reports
(a) Fee. – When filing a return for a taxable year in which the taxpayer engaged in activity for which the taxpayer is eligible for a credit under this Article, the taxpayer shall pay the Department of Revenue a fee of five hundred dollars ($500.00) for each type of credit the taxpayer claims or intends to claim with respect to an establishment. The fee is due at the time the return is due for the taxable year in which the taxpayer engaged in the activity for which the taxpayer is eligible for a credit. No credit is allowed under this Article for a taxable year until all outstanding fees have been paid. Fees collected under this section shall be credited to the General Fund.
(b) Report. – The Department must include in the economic incentives report required by N.C. Gen. Stat. § 105-256 the following information itemized by credit and by taxpayer:
(1) The number and amount of credits generated and taken for each credit allowed in this Article.
Terms Used In North Carolina General Statutes 105-129.85
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) The number and development tier area of new jobs with respect to which credits were generated and to which credits were taken.
(3) The cost and development tier area of business property with respect to which credits were generated and to which credits were taken.
(4) The cost and development tier area of real property investment with respect to which credits were generated and to which credits were taken. (2006-252, s. 1.1; 2010-166, s. 1.9.)