North Carolina Renewable Energy Tax Credit Summary
(This credit is no longer available for renewable energy property placed in service on or after January 1, 2017)
- Applicable against any income, franchise, and insurance gross premiums taxes.
- May only offset 50% of taxpayer’s liability after considering 100% credits.
- Excess credits carry forward for five years.
- Credits can be purchased in one-year increments (MTC has NCDOR ruling).
- Great for corporations or individuals subject to the AMT or regular income tax.
- No Recapture of credits once they have been delivered to taxpayer.