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INCENTIVES - QUALIFIEDBUSINESS <br />INVESTMENT TAX CREDIT <br />The Qualified Business Investment Tax Credit Program offers qualified businesses tax credits against income <br />tax return for qualifying investments made in the equity securities or subordinated debt of a qualified <br />business. <br />The credit is 25 percent of the amount invested or $50,000, whichever is less. The total credits <br />allowable to all taxpayers for each year may not exceed $7,000,000. In order for the investor to be <br />eligible for the credit, the investment must be made in a business registered with the Secretary of State's <br />Securities Division as a Qualified Business Venture or a Qualified Grantee Business. <br />Qualified Business Venture iQBV) <br />, �i, <br />• Business engaged primarily in manufacturing, processing, warehousing, wholesaling, research and <br />developmen or'al'service- related industry. <br />$ulstness1 11111=1-1. ust have been organized in the same year as the year in which it applies for registration, or it must <br />not have generated more than $5,000,000 in gross revenues as of its last fiscal year <br />• Business cannot engage to any substantial degree in the following. providing professional services, <br />contracting or construction, selling or leasing at retail, investing, entertainment or recreation, or managing or <br />operating real estate. <br />Qualified Grantee Business (QGB) <br />• Must have received a grant from one of the following agencies three years prior to registration: the North <br />Carolina Technological Development Authority, the North Carolina Technological Development Authority, <br />Inc, North Carolina First Flight, Inc., the North Carolina Biotechnology Center, the Microelectronics Center <br />of North Carolina, the Kenan Institute for Engineering, Technology and Science, or the Federal Small Business <br />Innovation Research Program. <br />This program will expire in 2010. To receive the credit, you must file Form D -499 Application For Tax Credit <br />For Qualified Business Investments on or before October 15th in the year after you made the investment. <br />North Carolina. Department 4f Commerce Incentives 1 7 <br />