North Carolina S521 creates a tax credit for qualified investment entities investing in eligible businesses.

North Carolina S521 establishes a tax credit for qualified investment entities that invest in eligible businesses. Eligible businesses must be registered with the Secretary of State, meet specific criteria, and contribute to community infrastructure and resilience. Qualified investment entities, which are pass-through entities formed solely for investment purposes, can claim a nonrefundable income tax credit of 35% of their qualified investment. The credit can be applied to the entity's net income tax liability and carried forward for up to 10 years.

North Carolina S521 creates a tax credit for qualified investment entities investing in eligible businesses.

North Carolina S521 establishes a tax credit for qualified investment entities that invest in eligible businesses. Eligible businesses must be registered with the Secretary of State, meet specific criteria, and contribute to community infrastructure and resilience. Qualified investment entities, which are pass-through entities formed solely for investment purposes, can claim a nonrefundable income tax credit of 35% of their qualified investment. The credit can be applied to the entity's net income tax liability and carried forward for up to 10 years.