§105-151.30. (Repealed for taxable years beginning on or after January 1, 2014) Credit for recycling oyster shells

(a)        Credit. - A taxpayer who donates oyster shells to the Division of Marine Fisheries of the Department of Environment and Natural Resources is eligible for a credit against the tax imposed by this Part. The amount of the credit is equal to one dollar ($1.00) per bushel of oyster shells donated.

(b)        Limitation. - 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 allowable, except tax payment made by or on behalf of the taxpayer.

(c)        Carryforward. - Any unused portion of a credit allowed in this section may be carried forward for the succeeding five years.

(d)       Documentation of Credit. - Upon request, to support the credit allowed by this section, the taxpayer must file with its income tax return, for the taxable year in which the credit is claimed, a certification by the Department of Environment and Natural Resources stating the number of bushels of oyster shells donated by the taxpayer.

(e)        No Double Benefit. - A taxpayer who claims a credit under this section must add back to adjusted gross income any amount deducted under G.S. 105-134.6(a2) for the donation of the oyster shells.

(f)        Sunset. - This section is repealed effective for taxable years beginning on or after  January 1, 2014.

(2006-66, s. 24.18(c); 2007-527, s. 9(b); 2010-147, s. 4.2; 2011-330, s. 36; 2012-36, s. 6(b); 2013-414, s. 5(d).)