D-403TC: Partnership Tax Credit Summary (2025)
North Carolina · North Carolina DOR · Used for tax years 2025
Form D-403TC summarizes a partnership’s North Carolina tax credits for 2025, including credits subject to and not subject to the 50% tax limit. It also reports certain qualified rehabilitation expenditures and expenses when 2025 is the first year the credit is taken.
Who files this form
File Form D-403TC with Form D-403, Partnership Income Tax Return, if the partnership claims a tax credit on Form D-403, Part 4, Line 19 or Line 26.
What you'll need
Have the following available, as applicable:
- Form D-403: Use the N.C. income tax amount from Part 1, Line 11.
- A schedule for each credit listed in Part 1: The form requires these schedules to be attached.
- Form NC-Rehab: Use Part 4, Lines 23 and 26 for the Article 3L historic structure credits.
- Form NC-478: Use Part 3 for credits subject to the 50% tax limit.
- Partnership identification: Enter the first 10 characters of the legal name and the federal employer ID number.
How to file
Submit Form D-403TC with Form D-403. Attach a schedule for each credit listed in Part 1.
To complete the credit summary:
- Enter the applicable credits on Lines 1 through 7 and add them on Line 8.
- Enter the tax from Form D-403, Part 1, Line 11 on Line 9. On Line 10, enter the smaller of Lines 8 and 9.
- Enter credits subject to the 50% limit from Form NC-478, Part 3 on Line 11. Line 12 is reserved.
- Add Lines 10 through 12 on Line 13. Enter that amount on the applicable line or lines in Form D-403, Part 4.
For the web fill-in form, save the PDF to your computer and use the form’s print icon to check that all required fields are completed. Submit original returns only, and do not include the web fill-in instruction page.
Common mistakes
- Not attaching Form D-403TC: Failure to attach it may result in the tax credit being disallowed.
- Including excluded credits on Line 7: Do not include credits claimed on Form NC-478 or Form NC-Rehab.
- Entering rehabilitation expenses for the wrong year: Complete Lines 14 and 15 only if 2025 is the first year the credit is taken.
- Handwriting or using incorrect number formatting: Do not handwrite information or use commas in amounts. Use a minus sign, not brackets, for negative amounts.
- Using incorrect print settings: Do not print on both sides. Set page scaling to “none” and leave Auto-Rotate and Center unchecked.
- Sending photocopies or mixing form types: Submit original returns only and do not mix form types.
Questions people ask
Where do I report credits subject to the 50% tax limit?
Enter the total taken in 2025 on Line 11, using Form NC-478, Part 3.
Who can report carryover credits on Line 7?
Line 7 is for taxed partnerships only. It covers tax credits carried over from previous years, but excludes credits claimed on Form NC-478 or Form NC-Rehab.
When should I complete Lines 14 and 15?
Enter qualified rehabilitation expenditures or rehabilitation expenses on these lines only if tax year 2025 is the first year the credit is taken. These lines cover Article 3H rehabilitated mill property.
Where can I find additional details?
The form directs you to Form D-403A, Instructions for Partnership Income Tax Return.