Tax Incentives Available for Recycling or Resource Recovery Equipment
Edited by Ronald Lee Still 11/14/00.
The State of North Carolina grants tax incentives for equipment and facilities installed for the sole purpose of abating, reducing, or preventing the pollution of air and/or water. In addition, there are tax incentives for equipment or facilities used exclusively for recycling or resource recovery.
Certifications can be obtained from the appropriate authorities, then used in tax submittals.
The three types of tax incentives are:
- A reduction in personal property taxes, usually local county taxes (G.S. 105-275(8)(a), Article 12.
- A reduction of state franchise taxes (G.S. 105-122, Article 3, Schedule C).
- Accelerated depreciation for state corporate income taxes (also a Federal version) (G.S. 105-130.10, Article 4, Schedule D).
