NC-478 Pass-through: Pass-through Schedule for NC-478 Series (Revision)
North Carolina · North Carolina DOR · Used for tax years 2025
North Carolina Form NC-478 Pass-through is a schedule for reporting credits received from a pass-through entity or as a successor business. It identifies the qualifying entity or previous owner and records an election to treat an Article 3J tax credit received from a pass-through
Who files this form
The schedule directs you to provide information if you took a credit on Form NC-478, Part 3, Line 23, and received that credit from a pass-through entity or as a successor business.
Part 2 applies if you took a credit on Form NC-478, Part 3, Line 20, received it from a pass-through entity, and elect to treat an amount of that credit as a tax payment.
What you'll need
Have the following information ready to complete the schedule:
- Your identifying information for the applicable fields: individual and spouse names and Social Security numbers, or the entity’s legal name and Federal Employer ID Number (FEIN).
- For a successor-business credit, the previous owner’s legal name and FEIN.
- For a pass-through credit, the qualifying entity’s legal name and FEIN.
- For the Part 2 election, the amount of credit you elect to treat as a tax payment.
How to file
Complete the applicable identifying fields, using capital letters where directed.
- Part 1: Enter code S for a successor business, along with the previous owner’s legal name and FEIN. Enter code P for a pass-through entity, along with the qualifying entity’s legal name and FEIN. Enter the FEIN without dashes.
- 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).
The printed directions say to submit originals only and not to include the handwritten-forms instruction page. The supplied text does not give a mailing address or e-filing instructions.
Common mistakes
- Using red ink. Use blue or black ink instead.
- Adding dollar signs, commas, or other punctuation marks to handwritten entries.
- Including dashes in the Part 1 FEIN field.
- Printing with page scaling other than “none,” leaving Auto-Rotate and Center checked, or printing on both sides of the paper.
- Submitting photocopies instead of originals.
- Mixing form types.
- Including the page marked “Do Not Include This Page.”
Questions people ask
Which code should I use for a successor business?
Enter S in the Code box and provide the previous owner’s legal name and FEIN.
Which code should I use for a pass-through entity?
Enter P in the Code box and provide the qualifying entity’s legal name and FEIN.
What is Part 2 for?
Part 2 is the Article 3J Tax Credit Election. 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).
Can I submit a photocopy of the return?
No. The printed directions say to submit originals only, not photocopies.