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N.C. Gen. Stat. § 105-129.50

(See note for repeal) Definitions

Redline — June 1, 2021 → current.View current text →
Current — June 1, 2022
As of June 1, 2021
The definitions in section 41 of the Code apply in this Article. In addition, the following definitions apply in this Article:
The definitions in section 41 of the Code apply in this Article. In addition, the following definitions apply in this Article:
(1) Development tier one area. - Defined in G.S. 143B-437.08.
(1) Development tier one area. — Defined in G.S. 143B-437.08.
(2) Full-time job. - Defined in G.S. 105-129.81.
(2) Full-time job. — Defined in G.S. 105-129.81.
(3) Reserved.
(3) Reserved.
(4) North Carolina university research expenses. — Any amount the taxpayer paid or incurred to a research university for qualified research performed in this State or basic research performed in this State.
(4) North Carolina university research expenses. — Any amount the taxpayer paid or incurred to a research university for qualified research performed in this State or basic research performed in this State. (4a) Repealed by Session Laws 2013-316, s. 2.3(b), effective for taxable years beginning on or after January 1, 2014.
(5) Repealed by Session Laws 2013-316, s. 2.3(b), effective for taxable years beginning on or after January 1, 2014.
(6) Period of measurement. — Defined in the Small Business Size Regulations of the federal Small Business Administration.
(5) Period of measurement. — Defined in the Small Business Size Regulations of the federal Small Business Administration.
(7) Qualified North Carolina research expenses. — Qualified research expenses, other than North Carolina university research expenses, for research performed in this State.
(6) Qualified North Carolina research expenses. — Qualified research expenses, other than North Carolina university research expenses, for research performed in this State.
(8) Receipts. — Defined in the Small Business Size Regulations of the federal Small Business Administration.
(7) Receipts. — Defined in the Small Business Size Regulations of the federal Small Business Administration.
(9) Related person. — Defined in G.S. 105-163.010.
(8) Related person. — Defined in G.S. 105-163.010.
(10) Research university. — An institution of higher education that meets one or both of the following conditions: It is classified as one of the following in the most recent edition of “A Classification of Institutions of Higher Education”, the official report of The Carnegie Foundation for the Advancement of Teaching: Doctoral/Research Universities, Extensive or Intensive.
(9) Research university. — An institution of higher education that meets one or both of the following conditions: It is classified as one of the following in the most recent edition of “A Classification of Institutions of Higher Education”, the official report of The Carnegie Foundation for the Advancement of Teaching: Doctoral/Research Universities, Extensive or Intensive.
(11) Masters Colleges and Universities, I or II.
(10) Masters Colleges and Universities, I or II.
(12) Baccalaureate Colleges, Liberal Arts or General.
(11) Baccalaureate Colleges, Liberal Arts or General.
(13) It is a constituent institution of The University of North Carolina.
(12) It is a constituent institution of The University of North Carolina.
(14) Small business. — A business whose annual receipts, combined with the annual receipts of all related persons, for the applicable period of measurement did not exceed one million dollars ($1,000,000).
(13) Small business. — A business whose annual receipts, combined with the annual receipts of all related persons, for the applicable period of measurement did not exceed one million dollars ($1,000,000).
History
(2004-124, s. 32D.2; 2010-147, s. 3.2; 2011-330, s. 4; 2013-316, s. 2.3(b).)
Article has a Delayed Repeal Date. - For repeal of this Article, see G.S. 105- 129.51(b).

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.