2010 William S. Lee Act Credit Report

The Department of Revenue is required to publish a report on William S. Lee Act credits each year under G.S. 105-129.6(b). As required, the report includes information on all NC-478 returns processed during the 12-month period ending December 31, 2009, on which Article 3A credits were claimed. Most of the returns processed in 2009 were submitted for the 2008 tax year, but some were submitted for previous tax years. The Department’s Policy Analysis and Statistics Division prepared the report.

The information provided in this report reflects the unaudited figures shown by taxpayers on their tax forms. As such, some of the credits shown may have been taken in error by taxpayers or the amounts may be incorrect as the result of math errors by the taxpayer. In all cases where the Policy Analysis and Statistics Division identified a likely taxpayer error, they alerted the Department’s Examination Division to the potential problem. In addition, the database from which this report was generated is available to the Examination Division for use in identifying taxpayers who should be audited.

2010 William S. Lee Article 3A Credit Report For Returns Processed During CY 2009

• Summary of Credits Generated
• Summary of Credits Taken
• Creating Jobs
• Creating Jobs in Development Zones
• Machinery and Equipment Investment
• Worker Training
• Research and Development
• Investing in Central Office or Aircraft Facility
• Details of Credits Generated
• Details of Other Credits Generated
• Details of Credits Taken
• Details of Other Credits Taken