North Carolina Department of Revenue v. Hudson

WYNN, Judge.

“Where the language of a statute is clear and unambiguous, there is no room for judicial construction and the courts must construe the statute using its plain meaning.” 1 In this appeal, the North Carolina Department of Revenue argues that N.C. Gen. Stat. § § 105-163.011(bl) and 105-163.012(a) (1999) limit the maximum amount of qualified business income tax credit that an individual may claim based on one years’ investment to $50,000. Because the plain language of the statute permits a taxpayer to carry over unused amounts of qualified business income tax credit, accrued in one…