NC-478 Pass-through: Pass-through Schedule for NC-478 Series (Revision)
North Carolina · North Carolina DOR · Used for tax years 2024
North Carolina Form NC-478 Pass-through identifies the pass-through entity or previous business owner from whom you received a credit claimed on Form NC-478. It also records an election to treat an Article 3J tax credit received from a pass-through entity as a tax payment.
Who files this form
The schedule gives these directions:
- Part 1: If you took a credit on Form NC-478, Part 3, Line 23, and received it from a pass-through entity or as a successor business, provide information about the entity or previous owner.
- Part 2: If you took a credit on Form NC-478, Part 3, Line 20, and received it from a pass-through entity, enter the credit amount you elect to treat as a tax payment under G.S. 105-129.84(e).
What you'll need
Have the following information ready to complete the schedule:
- Your individual name and Social Security number, spouse’s name and Social Security number, or entity’s legal name and Federal Employer ID Number, as applicable.
- For a successor business credit, the previous owner’s legal name and Federal Employer ID Number (FEIN).
- For a pass-through entity credit, the qualifying entity’s legal name and FEIN.
- The relevant credit entries on Form NC-478, Part 3, Lines 23 and 20.
- For Part 2, the amount of credit you elect to treat as a tax payment.
The text does not list supporting documents to attach.
Common mistakes
- Using red ink: Use blue or black ink for handwritten forms.
- Adding punctuation to handwritten entries: Do not use dollar signs, commas, or other punctuation marks.
- Using the wrong print settings: Set page scaling to “none,” uncheck Auto-Rotate and Center, and do not print on both sides of the paper.
- Sending photocopies: Submit originals only.
- Mixing form types: The printed guidelines say not to mix form types.
- Including the handwritten-form instruction page: That page says not to include it.
- Adding dashes to the Part 1 FEIN: Enter the Federal Employer ID Number without dashes.
- Ignoring capitalization directions: Use capital letters in the name fields marked with that instruction.
Questions people ask
What code do I use for a successor business?
Enter “S” in the Code box in Part 1. Enter the previous owner’s legal name and FEIN.
What code do I use for a pass-through entity?
Enter “P” in the Code box in Part 1. Enter the qualifying entity’s legal name and FEIN.
Which credit entry does Part 1 refer to?
Part 1 refers to a credit taken on Form NC-478, Part 3, Line 23, that you received from a pass-through entity or as a successor business.
What do I enter in Part 2?
If you took a credit on Form NC-478, Part 3, Line 20, and received it from a pass-through entity, enter the amount you elect to treat as a tax payment under G.S. 105-129.84(e).