§ 105‑130.41. (Repealedeffective for taxable years beginning on or after January 1, 2014) Credit forNorth Carolina State Ports Authority wharfage, handling, and throughputcharges.
(a) Credit. Ataxpayer whose waterborne cargo is loaded onto or unloaded from an oceancarrier calling at the State‑owned port terminal at Wilmington orMorehead City, without consideration of the terms under which the cargo ismoved, is allowed a credit against the tax imposed by this Part. The amount ofcredit allowed is equal to the excess of the wharfage, handling (in or out),and throughput charges assessed on the cargo for the current taxable year overan amount equal to the average of the charges for the current taxable year andthe two preceding taxable years. The credit applies to forest products, break‑bulkcargo and container cargo, including less‑than‑container‑loadcargo, that is loaded onto or unloaded from an ocean carrier calling at eitherthe Wilmington or Morehead City port terminal and to bulk cargo that is loadedonto or unloaded from an ocean carrier calling at the Morehead City portterminal. To obtain the credit, taxpayers must provide to the Secretary astatement from the State Ports Authority certifying the amount of charges forwhich a credit is claimed and any other information required by the Secretary.
(b) Limitations. Thiscredit may not exceed fifty percent (50%) of the amount of tax imposed by thisPart for the taxable year reduced by the sum of all credits allowable, excepttax payments made by or on behalf of the corporation. Any unused portion of thecredit may be carried forward for the succeeding five years. The maximumcumulative credit that may be claimed by a corporation under this section istwo million dollars ($2,000,000).
(c) Definitions. Forpurposes of this section, the terms "handling" (in or out) and"wharfage" have the meanings provided in the State Ports TariffPublications, "Wilmington Tariff, Terminal Tariff #6," and"Morehead City Tariff, Terminal Tariff #1." For purposes of thissection, the term "throughput" has the same meaning as"wharfage" but applies only to bulk products, both dry and liquid.
(c1) Report. TheDepartment of Revenue must publish by May 1 of each year the followinginformation itemized by taxpayer for the 12‑month period ending thepreceding December 31:
(1) The number oftaxpayers taking a credit allowed in this section.
(2) The total amount ofcharges assessed for the taxable year.
(2a) The amount of thecharges attributable to imports.
(2b) The amount of thecharges attributable to exports.
(3) The total cost tothe General Fund of the credits taken.
(d) Sunset. Thissection is repealed effective for taxable years beginning on or after January1, 2014. (1991(Reg. Sess., 1992), c. 977, s. 1; 1993 (Reg. Sess., 1994), c. 681, s. 1; 1995,c. 17, s. 17; c. 495, ss. 1, 3, 4; 1996, 2nd Ex. Sess., c. 18, s. 15.3(a); 1997‑443,s. 29.1(a)‑(c); 1998‑98, s. 69; 2001‑517, ss. 1, 2; 2002‑99,s. 6(c); 2003‑414, s. 7; 2005‑429, s. 2.9; 2007‑527, s.26(a); 2008‑107, s. 28.5(a), (b).)
§ 105‑130.41. (Repealedeffective for taxable years beginning on or after January 1, 2014) Credit forNorth Carolina State Ports Authority wharfage, handling, and throughputcharges.
(a) Credit. Ataxpayer whose waterborne cargo is loaded onto or unloaded from an oceancarrier calling at the State‑owned port terminal at Wilmington orMorehead City, without consideration of the terms under which the cargo ismoved, is allowed a credit against the tax imposed by this Part. The amount ofcredit allowed is equal to the excess of the wharfage, handling (in or out),and throughput charges assessed on the cargo for the current taxable year overan amount equal to the average of the charges for the current taxable year andthe two preceding taxable years. The credit applies to forest products, break‑bulkcargo and container cargo, including less‑than‑container‑loadcargo, that is loaded onto or unloaded from an ocean carrier calling at eitherthe Wilmington or Morehead City port terminal and to bulk cargo that is loadedonto or unloaded from an ocean carrier calling at the Morehead City portterminal. To obtain the credit, taxpayers must provide to the Secretary astatement from the State Ports Authority certifying the amount of charges forwhich a credit is claimed and any other information required by the Secretary.
(b) Limitations. Thiscredit may not exceed fifty percent (50%) of the amount of tax imposed by thisPart for the taxable year reduced by the sum of all credits allowable, excepttax payments made by or on behalf of the corporation. Any unused portion of thecredit may be carried forward for the succeeding five years. The maximumcumulative credit that may be claimed by a corporation under this section istwo million dollars ($2,000,000).
(c) Definitions. Forpurposes of this section, the terms "handling" (in or out) and"wharfage" have the meanings provided in the State Ports TariffPublications, "Wilmington Tariff, Terminal Tariff #6," and"Morehead City Tariff, Terminal Tariff #1." For purposes of thissection, the term "throughput" has the same meaning as"wharfage" but applies only to bulk products, both dry and liquid.
(c1) Report. TheDepartment of Revenue must publish by May 1 of each year the followinginformation itemized by taxpayer for the 12‑month period ending thepreceding December 31:
(1) The number oftaxpayers taking a credit allowed in this section.
(2) The total amount ofcharges assessed for the taxable year.
(2a) The amount of thecharges attributable to imports.
(2b) The amount of thecharges attributable to exports.
(3) The total cost tothe General Fund of the credits taken.
(d) Sunset. Thissection is repealed effective for taxable years beginning on or after January1, 2014. (1991(Reg. Sess., 1992), c. 977, s. 1; 1993 (Reg. Sess., 1994), c. 681, s. 1; 1995,c. 17, s. 17; c. 495, ss. 1, 3, 4; 1996, 2nd Ex. Sess., c. 18, s. 15.3(a); 1997‑443,s. 29.1(a)‑(c); 1998‑98, s. 69; 2001‑517, ss. 1, 2; 2002‑99,s. 6(c); 2003‑414, s. 7; 2005‑429, s. 2.9; 2007‑527, s.26(a); 2008‑107, s. 28.5(a), (b).)
§ 105‑130.41. (Repealedeffective for taxable years beginning on or after January 1, 2014) Credit forNorth Carolina State Ports Authority wharfage, handling, and throughputcharges.
(a) Credit. Ataxpayer whose waterborne cargo is loaded onto or unloaded from an oceancarrier calling at the State‑owned port terminal at Wilmington orMorehead City, without consideration of the terms under which the cargo ismoved, is allowed a credit against the tax imposed by this Part. The amount ofcredit allowed is equal to the excess of the wharfage, handling (in or out),and throughput charges assessed on the cargo for the current taxable year overan amount equal to the average of the charges for the current taxable year andthe two preceding taxable years. The credit applies to forest products, break‑bulkcargo and container cargo, including less‑than‑container‑loadcargo, that is loaded onto or unloaded from an ocean carrier calling at eitherthe Wilmington or Morehead City port terminal and to bulk cargo that is loadedonto or unloaded from an ocean carrier calling at the Morehead City portterminal. To obtain the credit, taxpayers must provide to the Secretary astatement from the State Ports Authority certifying the amount of charges forwhich a credit is claimed and any other information required by the Secretary.
(b) Limitations. Thiscredit may not exceed fifty percent (50%) of the amount of tax imposed by thisPart for the taxable year reduced by the sum of all credits allowable, excepttax payments made by or on behalf of the corporation. Any unused portion of thecredit may be carried forward for the succeeding five years. The maximumcumulative credit that may be claimed by a corporation under this section istwo million dollars ($2,000,000).
(c) Definitions. Forpurposes of this section, the terms "handling" (in or out) and"wharfage" have the meanings provided in the State Ports TariffPublications, "Wilmington Tariff, Terminal Tariff #6," and"Morehead City Tariff, Terminal Tariff #1." For purposes of thissection, the term "throughput" has the same meaning as"wharfage" but applies only to bulk products, both dry and liquid.
(c1) Report. TheDepartment of Revenue must publish by May 1 of each year the followinginformation itemized by taxpayer for the 12‑month period ending thepreceding December 31:
(1) The number oftaxpayers taking a credit allowed in this section.
(2) The total amount ofcharges assessed for the taxable year.
(2a) The amount of thecharges attributable to imports.
(2b) The amount of thecharges attributable to exports.
(3) The total cost tothe General Fund of the credits taken.
(d) Sunset. Thissection is repealed effective for taxable years beginning on or after January1, 2014. (1991(Reg. Sess., 1992), c. 977, s. 1; 1993 (Reg. Sess., 1994), c. 681, s. 1; 1995,c. 17, s. 17; c. 495, ss. 1, 3, 4; 1996, 2nd Ex. Sess., c. 18, s. 15.3(a); 1997‑443,s. 29.1(a)‑(c); 1998‑98, s. 69; 2001‑517, ss. 1, 2; 2002‑99,s. 6(c); 2003‑414, s. 7; 2005‑429, s. 2.9; 2007‑527, s.26(a); 2008‑107, s. 28.5(a), (b).)
