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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 program.

The North Carolina General Assembly has repealed the Qualified Business Tax Credit Program (“QB Program”) for investments made on or after January 1, 2014.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.

Download PDFApplication for Qualified Business Tax Credit Status
Download DOCApplication for Qualified Business Tax Credit Status

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For more information, please contact us at:

The Qualified Business Investment Tax Credit Program Department of the Secretary of State
Securities Division
P.O. Box 29622
Raleigh, NC 27626-0525

Telephone: (919) 733-3924
Facsimile: (919) 807-2183
E-mail: secdiv@sosnc.com