North Carolina's Reference to the Internal Revenue Code Updated-Impact on 2014 North Carolina Corporate and Individual Income Tax Returns Governor McCrory signed into law Session Law 2015-2 (Senate Bill 20) on March 31, 2015. The legislation updated North Carolina’s reference to the Internal Revenue Code to the Code as enacted as of January 1, 2015. As a result, North Carolina corporate and individual income tax law generally follows the Tax Increase Prevention Act of 2014 (“TIPA”), which extended several provisions in federal law that had sunset at the end of 2013. The law does not follow (decouples from) TIPA in six instances. The table below identifies those instances and describes each difference and which lines on the tax returns are impacted. Files impactofcodeupdate040115.pdf PDF • 30.37 KB - November 27, 2017 Individual Income Tax, Corporate Income Tax
North Carolina's Reference to the Internal Revenue Code Updated-Impact on 2014 North Carolina Corporate and Individual Income Tax Returns Governor McCrory signed into law Session Law 2015-2 (Senate Bill 20) on March 31, 2015. The legislation updated North Carolina’s reference to the Internal Revenue Code to the Code as enacted as of January 1, 2015. As a result, North Carolina corporate and individual income tax law generally follows the Tax Increase Prevention Act of 2014 (“TIPA”), which extended several provisions in federal law that had sunset at the end of 2013. The law does not follow (decouples from) TIPA in six instances. The table below identifies those instances and describes each difference and which lines on the tax returns are impacted. Files impactofcodeupdate040115.pdf PDF • 30.37 KB - November 27, 2017 Individual Income Tax, Corporate Income Tax
impactofcodeupdate040115.pdf PDF • 30.37 KB - November 27, 2017 Individual Income Tax, Corporate Income Tax
