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The extra credit grant is a $335 payment to you from the State of North Carolina.The payment is to help families with qualifying children in North Carolina by providing economic support to assist with virtual schooling and child-care costs during the COVID-19 pandemic.
A fiduciary required to pay an income tax to North Carolina for a trust for which he acts may claim a credit for tax imposed and paid to another state or country on income from sources within that state or country under the provisions of G.S. § 105-160.4(a).
Pay individual income tax. Pay a balance due on your Individual Income Tax Return for the current tax year, and prior years through tax year 2003.
Yes, you should include it as income on your federal return. (Whether the grant is included in federal gross income is determined under federal law. Generally, however, all income is taxable for federal tax purposes unless specifically exempted by federal law.)
North Carolina families with qualifying children who were 16 or younger at the end of 2019 who did not already receive the $335 check from the NC Department of Revenue. Qualifying individuals who were not required to file a 2019 state tax return and have NOT already received the $335 grant.
Use Form NC-1105 to apply for the payment authorized under the Extra Credit Grant Program if you did not file a 2019 North Carolina individual income tax return, Form D-400, solely because your gross income (and your spouse's gross income, if applicable) for 2019 did not exceed the State's filing requirement for your
To grant credit to someone is to trust that person and to take a risk in handing over a sum of money or goods, on the undertaking that the sum of money or goods will be repaid by a certain date plus an additional amount (of money or goods), called interest.