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 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
