The Qualified Business Tax Credit Program is administered by the Securities Division of
the Department of the Secretary of State. Under this program, a business may certify
that it meets certain criteria permitting it to be a "qualified business" as defined by
statute. To learn more, read an overview of the
The North Carolina General Assembly has repealed the Qualified Business Tax Credit Program (“QB Program”)
for investments made on or after January 1, 2014. Therefore, the North Carolina Securities Division (“Division”)
will not be accepting applications for renewal of registration.
Please remember that the Division is only authorized to deal with issues related to the registration of a
business in the QB Program. Please contact the Department of Revenue, Income Tax Division at (919) 814-1066
for questions regarding the distribution of the tax credit to investors.
Conditionally Registered Businesses:
Some Qualified Businesses obtained “conditional registrations,” which required them to submit financial
statements to the Division in order to complete the original QB registration and secure for their
investors the right to claim a tax credit based on their investment in the business. Those businesses
that have received such conditional registrations are still required to file with the Division an audited
or reviewed financial statement for the 2012 fiscal year within five months of the end of the 2013 fiscal
year, in order to prevent the loss of any tax credits that may have been generated by their investors.
In most cases, the financial statement for the 2012 fiscal year will need to be filed not later than May 31, 2014.
Failure to file these financial statements will cause the loss of any tax credits that investors in the
business may have generated.
Deadline for Initial Registration of Qualified Grantee or Qualified Licensee Businesses:
For businesses seeking to register as Qualified Grantee Businesses or as Qualified Licensee Businesses, the last
date on which the Division will accept initial applications for registration is December 31, 2013. The effective
date for Qualified Grantee Business and Qualified Licensee Business registrations will be the date that the Division
receives the initial application, provided that the application satisfies the requirements for registration.
Deadline for Initial Registration of Qualified Business Ventures:
The last date on which the Division will accept initial applications for Qualified Business Venture applicants is March 3, 2014.
Qualified Business Venture registrations enjoy the statutory benefit of a retroactive effective date, which
is 60 days prior to the date the Division receives the initial application. However, remember that the General Assembly has
repealed the QB Program for investments made on or after January 1, 2014. Therefore, even if a business can be initially
registered as a Qualified Business Venture after January 1, 2014, the investment that seeks to qualify for the tax credit has
to be made not later than December 31, 2013, and it must be made during the time that the registration is effective.
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For more information, please contact us at:
The Qualified Business Investment Tax Credit Program Department of the Secretary
P.O. Box 29622
Raleigh, NC 27626-0525
Telephone: (919) 733-3924
Facsimile: (919) 807-2183