is 0,000; that is, you have to spend more than that amount to get the credit. In addition, there are specific rules about what spending qualifies toward receiving the tax credit. When your project is complete, you file a form with the NC Department of Revenue and they schedule an audit in 3-4 weeks. After successfully completing the audit, you receive a certificate for the amount of your tax credit. You then file a tax return along with the certificate and in 1-3 months you receive a check.
So as you can see from this example it could be well after the production is completed before you receive a check. You can borrow against the credit from a bank but that will cost you a premium.
Every state’s production incentive program is different so it is mandatory that you check with the state’s administering office to ensure you meet all of their requirements.