carry-over unused North Carolina FTC ?

Mar 18, 2021 Last reply: 5 years ago 1 Replies

I hope it's ok to ask state-specific questions here ...



North Carolina has a credit called "credit for income tax paid to another state or country". I am using it to take a foreign tax credit (FTC) for foreign taxes withheld on an international ETF.



As with the federal FTC (when it exceeds a $300/600 threshold), the allowable credit is limited based on your North Carolina income, tax, and the amount of foreign income. What I can't figure out, is it possible to carry-over the unused credit to future years (as with the federal FTC)? Form D-400TC, Part 3, Line 14 is "Tax credits carried over from previous years", but nowhere can I find what credits CAN be carried over.


I got an answer from another forum. No, North Carolina unused tax credits cannot be carried-over.

"Section 105-151 of the NC Code, which is the relevant statute, contains no provision for carryover."

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