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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateNorth Carolina
Effected JurisdictionNorth Carolina
Jurisdiction type: State
Fiscal year ending In2020
Program nameJob Development Investment Grant (JDIG)
Program purpose: Job Creation/Retention
Statutory authority: North Carolina General Statute Chapter 143B Article 10 Part 2G
Abating jurisdiction(s): State of North Carolina
Applicable taxesWithholding Tax
Method of abatement: Retention of withholding tax
Provisions for recapture: If the business receiving a grant fails to meet or comply with any condition or requirement set forth in an agreement, the amount of the grant or the term of the agreement shall be reduced, the agreement may be terminated, or both. If a business fails to maintain employment at the levels stipulated in the agreement or otherwise fails to comply with any condition of the agreement for any two consecutive years, the grant payment will be withheld for any consecutive year after the second consecutive year remaining in the base period in which the business fails to comply with any condition of the agreement. If the business is no longer within the base period, the agreement shall be terminated.
Gross revenue loss: $43,460,000
Reimbursement / offset: $0
Net revenue loss: $43,460,000
Type of loss: Active
Additional notes on dislosureThese include the Workers with Disabilities Tax Credits, the Employee Training Incentive Program, the Musical and Theatrical Production Credit, the Excelsior Business Program (formerly START-UP NY) Tax Elimination Credit and the Historical Homeowners Rehabilitation Tax Credit.
Document sourcehttps://www.osc.nc.gov/public-information/reports/report-archives/annual...