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Incentives:

Credits For Growing Businesses (Article 3J Credits)

In July 2006, the NC General Assembly passed legislation  that created a new tax credit program, Article 3J Credits.  Article 3J provides three types of tax credits to eligible taxpayers that undertake qualifying activities in North Carolina:

  1. Credit for Creating Jobs
  2. Credit for Investing in Business Property
  3. Credit for Investment in Real Property (tier 1 only)

These credits may be combined to offset up to 50% of the taxpayer's state income and franchise tax liability, and unused credits ay be carried forward for up to five years (15-year carry forwards apply to the Credit for Investing in Real Property and 20-year carry-forwards exist for taxpayers that invest at least $150 million over a two-year period). In Martin County, the credits are $12,500 per job and seven percent of qualified investment.