§ 105‑151.30. (Repealedfor taxable years beginning on or after January 1, 2011) Credit for recyclingoyster shells.
(a) Credit. Ataxpayer who donates oyster shells to the Division of Marine Fisheries of theDepartment of Environment and Natural Resources is eligible for a creditagainst the tax imposed by this Part. The amount of the credit is equal to onedollar ($1.00) per bushel of oyster shells donated.
(b) Limitation. Thecredit allowed under this section may not exceed the amount of tax imposed bythis Part for the taxable year reduced by the sum of all credits allowable,except tax payment made by or on behalf of the taxpayer.
(c) Carryforward. Anyunused portion of a credit allowed in this section may be carried forward forthe succeeding five years.
(d) Documentation ofCredit. Upon request, to support the credit allowed by this section, thetaxpayer must file with its income tax return, for the taxable year in whichthe credit is claimed, a certification by the Department of Environment andNatural Resources stating the number of bushels of oyster shells donated by thetaxpayer.
(e) No Double Benefit. A taxpayer who claims a credit under this section must add back to taxableincome any amount deducted under the Code for the donation of the oystershells.
(f) Sunset. Thissection is repealed effective for taxable years beginning on or after January1, 2011. (2006‑66,s. 24.18(c); 2007‑527, s. 9(b).)
§ 105‑151.30. (Repealedfor taxable years beginning on or after January 1, 2011) Credit for recyclingoyster shells.
(a) Credit. Ataxpayer who donates oyster shells to the Division of Marine Fisheries of theDepartment of Environment and Natural Resources is eligible for a creditagainst the tax imposed by this Part. The amount of the credit is equal to onedollar ($1.00) per bushel of oyster shells donated.
(b) Limitation. Thecredit allowed under this section may not exceed the amount of tax imposed bythis Part for the taxable year reduced by the sum of all credits allowable,except tax payment made by or on behalf of the taxpayer.
(c) Carryforward. Anyunused portion of a credit allowed in this section may be carried forward forthe succeeding five years.
(d) Documentation ofCredit. Upon request, to support the credit allowed by this section, thetaxpayer must file with its income tax return, for the taxable year in whichthe credit is claimed, a certification by the Department of Environment andNatural Resources stating the number of bushels of oyster shells donated by thetaxpayer.
(e) No Double Benefit. A taxpayer who claims a credit under this section must add back to taxableincome any amount deducted under the Code for the donation of the oystershells.
(f) Sunset. Thissection is repealed effective for taxable years beginning on or after January1, 2011. (2006‑66,s. 24.18(c); 2007‑527, s. 9(b).)
§ 105‑151.30. (Repealedfor taxable years beginning on or after January 1, 2011) Credit for recyclingoyster shells.
(a) Credit. Ataxpayer who donates oyster shells to the Division of Marine Fisheries of theDepartment of Environment and Natural Resources is eligible for a creditagainst the tax imposed by this Part. The amount of the credit is equal to onedollar ($1.00) per bushel of oyster shells donated.
(b) Limitation. Thecredit allowed under this section may not exceed the amount of tax imposed bythis Part for the taxable year reduced by the sum of all credits allowable,except tax payment made by or on behalf of the taxpayer.
(c) Carryforward. Anyunused portion of a credit allowed in this section may be carried forward forthe succeeding five years.
(d) Documentation ofCredit. Upon request, to support the credit allowed by this section, thetaxpayer must file with its income tax return, for the taxable year in whichthe credit is claimed, a certification by the Department of Environment andNatural Resources stating the number of bushels of oyster shells donated by thetaxpayer.
(e) No Double Benefit. A taxpayer who claims a credit under this section must add back to taxableincome any amount deducted under the Code for the donation of the oystershells.
(f) Sunset. Thissection is repealed effective for taxable years beginning on or after January1, 2011. (2006‑66,s. 24.18(c); 2007‑527, s. 9(b).)
