Are you looking to figure out the tax implications of a business transaction? If so, then you should take a look at Form NC-478G. This document is important for any North Carolina businesses as it outlines the rules and regulations related to this state's sales and use taxes. With so much information available, navigating all that is included may seem like a daunting task; however, we are here to help! In this blog post, we will provide an overview of what Form NC-478G entails and how it applies to your business. We'll also explain how accurately filling out this form can save time and money by avoiding penalties for noncompliance or incorrect filings. Read on to learn more about the essential information provided in Form NC-478G!
Question | Answer |
---|---|
Form Name | Nc 478G Form |
Form Length | 2 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 30 sec |
Other names | www.ncdor.gov media 1143North Carolina Department of Revenue - ncdor.gov |
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Web
2020 Tax Credit for Investing in Renewable Energy Property
DOR
Use
Only
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SSN or FEIN |
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Part 1 through 3. Computation of Credit for Investing in Renewable Energy Property (The credit for investing in renewable energy property was repealed effective for business activities that occurred on or after May 5, 2017. Taxpayers may continue to take the remaining installments and carryforwards of prior years’ credits by completing Parts 4 and 5.)
Part 4. Computation of Amount To Be Taken in 2020 |
Franchise |
Income |
1. 4th Installment of 2017 Business Credit |
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1/5th of the 2017 Credit Amount |
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2. 5th Installment of 2016 Business Credit |
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1/5th of the 2016 Credit Amount |
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3. Carryforwards |
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Portion of nonbusiness credit or installments for business |
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credit not taken from previous years |
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4. Credit Amount to Take in Tax Year 2020 |
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Add Lines 1 - 3; enter here and on Form |
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Part 5. Renewable Energy Property for Business Purposes Credit History Table |
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Tax Year |
2016 |
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2017 |
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Credit Amount |
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Taken in 2016 |
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Taken in 2017 |
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1st |
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Income |
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Taken in 2017 |
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Taken in 2018 |
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2nd |
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Installments |
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Income |
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Taken in 2018 |
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Taken in 2019 |
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3rd |
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Taken in 2019 |
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Taken in 2020 |
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4th |
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Income |
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Taken in 2020 |
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Taken in 2021 |
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5th |
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Income |
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Carryforwards Taken
Carryforwards to
Take in Future
Expired Installments