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NCDOR »   Taxes & Forms »   Corporate Income & Franchise Tax »   Corporate Tax Law »   Corporate Income Tax

Corporate Income Tax

Article 4, Part 1 – Corporation Income Tax and Part 1A – S Corporation Income Tax

The North Carolina General Assembly offers access to the General Statutes on the Internet as a service to the public. While every effort is made to ensure the accuracy and completeness of the statutes, the North Carolina General Assembly is not responsible for any errors or omissions which may occur in these files. A printed copy of any of the statutes including notes information is available in a library or courthouse setting or in the online statues available through LexisNexis on a subscription basis. Read the Caveats in their entirety.

Click on the statute reference to review the law on the General Assembly's web site.

Part 1. Corporation Income Tax

105-130 Short title
105-130.1 Purpose
105-130.2 Definitions
105-130.3 Corporations
105-130.3C Rate reduction trigger
105-130.4 Allocation and apportionment of income for corporations
105-130.5 Adjustments to federal taxable income in determining State net income
105-130.5A Secretary’s authority to adjust net income or require a combined return
105-130.5B Adjustments when State decouples from federal accelerated depreciation and expensing
105-130.6A Adjustments for expenses related to dividends
105-130.7A Royalty income reporting option
105-130.8 Net economic loss
105-130.9 Contributions
105-130.10 Amortization of air-cleaning devices, waste treatment facilities and recycling facilities
105-130.10A Amortization of equipment mandated by OSHA
105-130.11 Conditional and other exemptions
105-130.12 Real estate investment trusts
105-130.14 Corporations filing consolidated returns for federal tax purposes
105-130.15 Basis of return of net income
105-130.16 Returns
105-130.17 Time and place of filing returns
105-130.19 When tax must be paid
105-130.20 Federal corrections
105-130.21 Information at source return
105-130.25 Credit against corporate income tax for construction of cogenerating power plants
105-130.45 Credit for manufacturing cigarettes for export
105-130.46 Credit for manufacturing cigarettes for exportation while increasing employment and utilizing State Ports
105-130.47 Credit for qualifying expenses of a production company

 

Part 1A. S Corporation Income Tax

105-131 Title; definitions; interpretation
105-131.1 Taxation of an S Corporation and its shareholders
105-131.2 Adjustment and characterization of income
105-131.3 Basis and adjustments
105-131.4 Carryforwards; carrybacks; loss limitation
105-131.5 Part-year resident shareholder
105-131.6 Distributions
105-131.7 Returns; shareholder agreements; mandatory withholding
105-131.8 Tax credits

 

Other Tax Credits Allowed Against Corporation Income Tax

Article 3B – Business and Energy Tax Credits
Article 3C – Tax Incentives for Recycling Facilities
Article 3D – Historic Rehabilitation Tax Credits
Article 3E – Low-Income Housing Tax Credits
Article 3F – Research and Development
Article 3H – Mill Rehabilitation Tax Credit
Article 3J – Tax Credits for Growing Businesses
Article 3K – Tax Incentives for Railroad Intermodal Facilities

Corporate Tax Law

  • Corporate Estimated Tax Payments
  • Corporate Income Tax
  • Franchise Tax
  • Freight Car Lines Tax
  • Insurance Company Premiums Tax
  • Tax Incentives for Recycling Facilities

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Contact Information

North Carolina Department of Revenue

PO Box 25000
Raleigh, NC 27640-0640
General information: 1-877-252-3052
Individual income tax refund inquiries:
1-877-252-4052

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