ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
In 2015 International Business Machines Corporation took $27,600,704 in technology development credits in North Carolina. Under Article 3F in the North Carolina tax code, any taxpayer is allowed a tax credit for qualified North Carolina research expenses if the taxpayer meets certain eligibility requirements relating to wage standard, health insurance, environmental impact, and safety and health programs. Article 3F credits are not taken in installments but must be taken in the year expenses are incurred; any unused portion of the credit may be carried forward for fifteen succeeding years. This one firm received 32% of the credits claimed under this provision of law in 2015.
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