§ 105-130.39. Credit for certain telephone subscriber line charges. - North Carolina Statutes

§105‑130.39.  Credit for certain telephone subscriber line charges.

(a)        A corporation thatprovides local telephone service to low‑income residential consumers atreduced rates pursuant to an order of the North Carolina Utilities Commissionis allowed a credit against the tax imposed by this Part equal to thedifference between the following:

(1)        The amount ofreceipts the corporation would have received during the taxable year from thoselow‑income customers had the customers been charged the regular rates forlocal telephone service and fees.

(2)        The amount billedthose low‑income customers for local telephone service during the taxableyear.

(b)        This credit isallowed only for a reduction in local telephone service rates and fees and isnot allowed for any reduction in interstate subscriber line charges. Thiscredit may not exceed the amount of tax imposed by this Part for the taxableyear reduced by the sum of all credits allowable, except tax payments made byor on behalf of the corporation. (1985, c. 694, s. 2; 1998‑98,s. 90.)