What are the tax credits for residents of NC?
Here’s a generic breakdown. Of course, we need to add the disclaimer that you should always rely on your own tax accountant over anyone else including us. That said, the basic limitation is that you need to have a sufficient tax burden to apply the tax credit against, particularly for the NC credit which specifies that you can’t claim more than half of your total state tax burden in a single year (though you can roll over remainder into future years).
Related Questions
- In 1996, some residents living near a plant in Glenola, NC that used TDI complained of illnesses. Why weren immediate actions taken to halt TDI use in North Carolina?
- Can applicants from border states, such as South Carolina, apply as residents to NC State?
- Are there any special tax credits available for businesses in NC?
