§ 105-129.50. (See note for effective date and repeal) Definitions. - North Carolina Statutes

Article 3F.

Research and Development.

§ 105‑129.50.  (See notefor effective date and repeal)  Definitions.

The definitions in section 41of the Code apply in this Article. In addition, the following definitions applyin this Article:

(1)        through (3): Reserved.

(4)        North Carolinauniversity research expenses. – Any amount the taxpayer paid or incurred to aresearch university for qualified research performed in this State or basicresearch performed in this State.

(5)        Period ofmeasurement. – Defined in the Small Business Size Regulations of the federalSmall Business Administration.

(6)        Qualified NorthCarolina research expenses. – Qualified research expenses, other than NorthCarolina university research expenses, for research performed in this State.

(7)        Receipts. – Definedin the Small Business Size Regulations of the federal Small BusinessAdministration.

(8)        Related person. –Defined in G.S. 105‑163.010.

(9)        Research university.– An institution of higher education that meets one or both of the followingconditions:

a.         It is classified asone of the following in the most recent edition of "A Classification ofInstitutions of Higher Education", the official report of The CarnegieFoundation for the Advancement of Teaching:

1.         Doctoral/ResearchUniversities, Extensive or Intensive.

2.         Masters Colleges andUniversities, I or II.

3.         BaccalaureateColleges, Liberal Arts or General.

b.         It is a constituentinstitution of The University of North Carolina.

(10)      Small business. – Abusiness whose annual receipts, combined with the annual receipts of allrelated persons, for the applicable period of measurement did not exceed onemillion dollars ($1,000,000). (2004‑124, s. 32D.2.)