2010 North Carolina Code
Chapter 105 Taxation.
Article 4 - Income Tax.
105-151.32. (Repealed for taxable years beginning on or after January 1, 2013) Credit for adoption expenses.
105‑151.32. (Repealed for taxable years beginning on or after January 1, 2013) Credit for adoption expenses.
(a) Credit. An individual who is allowed a federal adoption tax credit under section 23 of the Code for the taxable year is allowed a credit against the tax imposed by this Part. The credit is equal to fifty percent (50%) of the amount of credit allowed under section 23 of the Code.
(b) Limitations. A nonresident or part‑year resident who claims the credit allowed by this section shall reduce the amount of the credit by multiplying it by the fraction calculated under G.S. 105‑134.5(b) or (c), as appropriate. The credit allowed under this section may not exceed the amount of tax imposed by this Part for the taxable year reduced by the sum of all credits allowed, except payments of tax made by or on behalf of the taxpayer. Any unused portion of this credit may be carried forward for the next succeeding five years.
(c) Sunset. This section is repealed effective for taxable years beginning on or after January 1, 2013. (2007‑323, s. 31.6(a).)
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