§ 105-160.3. Tax credits. - North Carolina Statutes

§ 105‑160.3.  Taxcredits.

(a)        Except as otherwiseprovided in this section, the credits allowed to an individual against the taximposed by Part 2 of this Article shall be allowed to the same extent to anestate or a trust against the tax imposed by this Part. Any credit computed asa percentage of income received shall be apportioned between the estate ortrust and the beneficiaries based on the distributions made during the taxableyear. No credit may exceed the amount of the tax imposed by this Part for thetaxable year reduced by the sum of all credits allowable, except for paymentsof tax made by or on behalf of the estate or trust.

(b)        The followingcredits are not allowed to an estate or trust:

(1)        G.S. 105‑151.Tax credits for income taxes paid to other states by individuals.

(2)        G.S. 105‑151.11.Credit for child care and certain employment‑related expenses.

(3)        G.S. 105‑151.18.Credit for the disabled.

(4)        G.S. 105‑151.24.Credit for children.

(5)        G.S. 105‑151.26.Credit for charitable contributions by nonitemizers.

(6)        Repealed by SessionLaws 2004‑170, s. 17, effective August 2, 2004.

(7)        G.S. 105‑151.28.Credit for long‑term care insurance.

(8)        (Expires fortaxable years beginning on or after January 1, 2011) G.S. 105‑151.30.Credit for recycling oyster shells.

(9)        G.S. 105‑151.31.Earned income tax credit.

(10)      G.S. 105‑151.32.Credit for adoption expenses. (1989, c. 728, s. 1.38; 1998‑1, s. 5(b); 1998‑98,ss. 10, 105; 1998‑212, s. 29A.6(b); 2004‑170, s. 17; 2006‑66,s. 24.18(f); 2007‑323, ss. 31.4(b), 31.5(b), 31.6(b).)