NC S255

Creates a tax credit for small businesses that create new full-time jobs in North Carolina, defined as businesses employing no more than 50 eligible employees and excluding retail trade and food service industries.

Establishes credit amounts based on county development tier designation: $12,500 for Tier One counties, $5,000 for Tier Two counties, and $750 for Tier Three counties.

Provides additional $2,000 per job credit for small businesses creating jobs (in addition to base tier amount), versus $1,000 additional credit for other businesses in urban progress zones or agrarian growth zones.

Requires jobs to represent a net increase in the taxpayer's statewide employee count and excludes jobs transferred from related business entities.

Effective for taxable years beginning January 1, 2013.