My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 1998 08 17
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
1998
>
AG 1998 08 17
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/4/2002 7:32:05 PM
Creation date
11/27/2017 11:52:11 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/17/1998
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
268
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
G. Records and documentation <br />- Taxpayer must maintain and make available for inspection any records the <br /> Secretary of Revenue determines necessary to verify amount of credit taxpayer is <br /> entitled to <br />· Commerce must report annually number of applications received, number and <br /> enterprise tier of new jobs credits applied for, and cost of machine~ and equipment <br /> credits applied for <br /> <br />H. Designation of Tiers <br />· Commerce ranks counties annually and assigns enterprise factor based on <br /> unemployment rate, population growth, and per capita income <br />· Five tiers: Tier one is 10 wiLh highest enterprise factor, Tier twa is next 15, Tier <br /> Three is next 25, Tier 4 is next 25, and Tier 5 is next 25. <br /> <br />A. Basics of the credit <br />· Equal to 7% of the excess of the eligible investment amount of machinery and <br /> equipment over the applicable threshold placed in service in NC in a taxable year <br />· Credit not taken in the taxable year placed in service but in equal installments over <br /> next 7 years <br /> <br />B. Special definitions <br />· Machinery and equipment: Engines, machinery, tools and implements capitalized <br /> under the Code and used in an eligible industry sector. Does not include real <br /> property or rolling stock. <br />· Purchase: as defined in Section 179 of the Code. <br />· Cost; as defined n Section 179 of the Code. <br />· Eligible investment amount: see D below. <br />· Base year: see D below. <br />· Threshold: see E below. <br /> <br />C. Placed in service requirement <br />· Placed in service: generally when capitalized on the books <br /> <br />D. Eligible investment amount <br />· Les{er of the cost of the eligible machinery and equipment, and the amount by <br /> which the cost of machinery and equipment in service on last day of taxable year in <br /> which credit is claimed exceed~ cost that was In service on last day of base year <br />· Base year is the is year of the three preceding taxable years with the most <br /> machinery and equipment in seq/~e in NC <br /> <br />Deveropers' Presentation <br /> <br />8/5/96 <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.