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This version of the form is not currently in use and is provided for reference only. Download this version of
Form NC-478
for the current year.
Form NC-478 Summary of Tax Credits Limited to 50% of Tax - North Carolina
What Is Form NC-478?
This is a legal form that was released by the North Carolina Department of Revenue - a government authority operating within North Carolina. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form NC-478?
A: Form NC-478 is a summary of tax credits that are limited to 50% of the tax liability in North Carolina.
Q: What tax credits are limited to 50% of tax in North Carolina?
A: Various tax credits in North Carolina are subject to a limitation, where they can only be utilized up to 50% of the tax liability.
Q: Why are tax credits limited to 50% of tax in North Carolina?
A: The limitation of tax credits to 50% of tax is intended to ensure that the tax credits do not completely eliminate the tax liability.
Q: How do I fill out Form NC-478?
A: Form NC-478 requires you to provide details of the tax credits you are claiming and calculate the limitation based on your tax liability. Follow the instructions on the form for accurate completion.
Q: Are all tax credits subject to this limitation?
A: No, not all tax credits in North Carolina are subject to the 50% limitation. Some tax credits may have a different limitation or no limitation at all.
Form Details:
- Released on July 1, 2020;
- The latest edition provided by the North Carolina Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form NC-478 by clicking the link below or browse more documents and templates provided by the North Carolina Department of Revenue.
Download Form NC-478 Summary of Tax Credits Limited to 50% of Tax - North Carolina
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