North Carolina § 105-129 - 50. (See note for repeal) Definitions.

§ 105-129. 50. (See note for repeal) Definitions.

The definitions in section 41 of the Code apply in this Article. In addition, the following definitions apply in this Article: Development tier one area. - Defined in G.S. 143B-437.08. Full-time job. - Defined in G.S. 105-129.81. Reserved. North Carolina university research expenses. - Any amount the taxpayer paid or incurred to a research university for qualified research performed in this State or basic research performed in this State. Repealed by Session Laws 2013-316, s. 2.3(b), effective for taxable years beginning on or after January 1, 2014. Period of measurement. - Defined in the Small Business Size Regulations of the federal Small Business Administration. Qualified North Carolina research expenses. - Qualified research expenses, other than North Carolina university research expenses, for research performed in this State. Receipts. - Defined in the Small Business Size Regulations of the federal Small Business Administration. Related person. - Defined in G.S. 105-163.010. Research university. - An institution of higher education that meets one or both of the following conditions: It is classified as one of the following in the most recent edition of "A Classification of Institutions of Higher Education", the official report of The Carnegie Foundation for the Advancement of Teaching: Doctoral/Research Universities, Extensive or Intensive. Masters Colleges and Universities, I or II. Baccalaureate Colleges, Liberal Arts or General. It is a constituent institution of The University of North Carolina. Small business. - A business whose annual receipts, combined with the annual receipts of all related persons, for the applicable period of measurement did not exceed one million dollars ($1,000,000). History (2004-124, s. 32D.2; 2010-147, s. 3.2; 2011-330, s. 4; 2013-316, s. 2.3(b).) Article has a Delayed Repeal Date. - For repeal of this Article, see G.S. 105- 129.51(b). Editor's Note. - Session Laws 2010-147, s. 3.1, effective for taxable years beginning on or after January 1, 2011, rewrote the Article 3F heading, which formerly read "Research and Development." Effect of Amendments. - Session Laws 2010-147, s. 3.2, effective for taxable years beginning on or after January 1, 2011, added subdivisions (2) and (3) and made a conforming change in subdivision (1); and added subdivision (4a). Session Laws 2011-330, s. 4, effective June 27, 2011, added subdivision (1). Session Laws 2013-316, s. 2.3(b), effective for taxable years beginning on or after January 1, 2014, deleted subdivision (4a).