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�0-1 <br />INCENTIVES - ARTICLE 3J TAX CREDITS <br />Credit for Creating jobs <br />Eligible taxpayers that meet a minimum threshold of new full -time jobs created during the taxable <br />year may claim a credit for each new job created. The credit is taken in equal installments over four <br />years following the year the jobs are created. The job threshold and the credit amount per job <br />determined by the tier designation of the county in which the jobs are created. <br />County Tier ©esignaton <br />11 <br />* If the job is filled by a resident of the zone or a long -term unemployed worker, add an additional $2,000. <br />Credit for Investing in Business Property <br />Eligible taxpayers may claim a credit based on a percentage of the cost of capitalized tangible <br />personal property that is placed in service during the taxable year, in excess of an applicable <br />threshold. This credit is taken in equal installments over four years, beginning the year after the <br />property is first placed in service. The credit percentage and threshold are based on the tier <br />designation of the county where the property is placed in service. <br />Countv,Tier <br />Designation:. <br />' <br />* If the job is filled by a resident of the zone or a long -term unemployed worker,: add an additional $2,000. <br />Credit for Investing in Real Property <br />Eligible taxpayers that invest at least $10 million in real property within a three -year period and <br />create at least 200 new jobs within two years at an establishment located in a Tier 1 county are <br />allowed a credit equal to 30 percent of the eligible real property investment. This credit is taken <br />in equal installments over seven years, beginning the year after the property is used in an eligible <br />business. To qualify for this credit, the taxpayer must obtain a written determination from the N.C. <br />Department of Commerce. <br />Statue of Limitations and Sunset <br />The taxpayer must claim Article 3) Tax Credits within six months after the date set by statue for the <br />filing of the tax return. The taxpayer has up to three years to claim adjustments to previous tax re- <br />turns. This article is repealed effective for business activities that occur on or after January 1, 2010. <br />North. Carolina Department of Commerce Incentives 1 3 <br />