Form Nc478f - Investing In Business Property
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12005 Tax Credit
NC-478F
File with NC-478
Web
Investing in Business Property
12-05
North Carolina Department of Revenue
Legal Name (First 10 Characters)
SSN or FEIN
Part 1.
Computation of Credit Amount for Investing in Business Property
The credit for investing in business property expired for business property placed in service on or after January 1, 2002.
Taxpayers who placed business property in service prior to January 1, 2002 may continue to take the remaining installments
and carryforwards of prior years’ credits by completing Parts 2 and 3.
.
1.
Cost of business property purchased or leased and placed in service
00
.
2. Multiply Line 1 by 4.5%
00
.
3.
Maximum credit
00
.
4. Credit Amount for Investing in Business Property
00
Part 2.
Computation of Amount To Be Taken in 2005
Franchise
Income
,
,
.
,
,
.
1.
5th Installment of 2001 Credit
00
00
1/5th of 2001 credit amount
,
,
.
,
,
.
2.
Carryforwards
00
00
Portion of installments not taken for tax years 1996-2004
,
,
.
,
,
.
3.
Credit Amount to Take in Tax Year 2005
00
00
Add Lines 1 and 2; enter here and on Form NC-478, Part 1, Line 6
Business Property Credit History Table for Tax Year 2001
Part 3.
Credit Amount
Taken in 2001
1
Franchise
st
Income
Taken in 2002
Franchise
2
nd
I
ncome
Taken in 2003
Franchise
3
rd
Income
Taken in 2004
Franchise
4
th
I
ncome
Taken in 2005
Franchise
5
th
I
ncome
Carryforwards Taken
Carryforwards to
NC
Take in Future
Expired Installments
478F
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