NC H920

Reduces corporate income tax rate from 6.9% to 4.9% for all C Corporations, effective for taxable years beginning January 1, 2012.

Expands the definition of "excluded corporations" (which are exempt from certain tax provisions) to include manufacturers and operators of large datacenters that have invested at least $100 million in private funds with datacenter property representing at least 50% of total in-state property value.

Extends the sunset date for sales tax refunds on building materials used in large industrial projects from January 1, 2013 to January 1, 2016.

Extends the sunset date for tax credits for growing businesses from January 1, 2013 to January 1, 2016.