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NCDOR »   Taxes & Forms »   Information for Tax Professionals »   Revenue Laws »   1999 Tax Law Changes »   1999 Tax Law Changes - Estimated Tax Payments

1999 Tax Law Changes - Estimated Tax Payments

XV. ESTIMATED TAX PAYMENTS

G.S. 105-163.40 - New Threshold for Corporations: The catchline to this section was amended and a new subsection (d) was added. The amendment to the catchline added the words "form of payment" at the end. New subsection (d) adds an additional threshold for determining when a corporation must pay its estimated corporate income tax installments by electronic funds transfer. This subsection requires a corporation to make its estimated payments of State income tax by electronic funds transfer if it is required to make its estimated payments of federal income tax by electronic funds transfer. Under the regulations adopted under the Internal Revenue Code, a corporation is required to make its estimated payments of federal income tax by electronic funds transfer if its aggregate liability for employment and other depository taxes exceeds $200,000 in a calendar year.
Thus, with the addition of this threshold, there are two tests for determining whether a corporation is required to make estimated payments of its State corporate income tax by electronic funds transfer. A corporation that meets the $240,000 a year test in G.S. 105-241(b) must pay by this method. A corporation that makes its federal estimated payments by electronic funds transfer must also pay by this method. No corporation, however, is required to make estimated payments of State income tax unless its expected liability exceeds the $500 threshold set in G.S. 105-163.40(a).
(Effective for taxable years beginning on or after January 1, 2000; SB 251, s. 7, S.L. 99-389.)

1999 Tax Law Changes

  • 1999 Tax Law Changes - Alcoholic Beverage License and Excise Taxes
  • 1999 Tax Law Changes - Business and Energy Tax Credits
  • 1999 Tax Law Changes - Corporate Income Tax
  • 1999 Tax Law Changes - Debt Set-Off
  • 1999 Tax Law Changes - Estate Tax
  • 1999 Tax Law Changes - Estimated Tax Payments
  • 1999 Tax Law Changes - Excise Tax On Conveyances
  • 1999 Tax Law Changes - General Administration
  • 1999 Tax Law Changes - Gift Tax
  • 1999 Tax Law Changes - Highway Use Tax
  • 1999 Tax Law Changes - Historic Rehabilitation Tax Credits
  • 1999 Tax Law Changes - Individual Income Tax
  • 1999 Tax Law Changes - Insurance Premiums Tax
  • 1999 Tax Law Changes - Piped Natural Gas Tax
  • 1999 Tax Law Changes - Privilege Tax
  • 1999 Tax Law Changes - Property Tax
  • 1999 Tax Law Changes - Regional Transit Authority Vehicle Rental Tax
  • 1999 Tax Law Changes - Sales and Use Tax
  • 1999 Tax Law Changes - Studies
  • 1999 Tax Law Changes - Tax Credits For Qualified Business Investments
  • 1999 Tax Law Changes - Tax Incentives For New and Expanding Businesses
  • 1999 Tax Law Changes - Tax Incentives For Recycling Facilities
  • 1999 Tax Law Changes - Tobacco Products Tax
  • 1999 Tax Law Changes - Unauthorized Substances Taxes
  • 1999 Tax Law Changes - Withholding of Income Tax
  • 1999 Tax law Changes - Corporate Franchise Tax

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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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https://www.ncdor.gov/taxes-forms/information-tax-professionals/revenue-laws/1999-tax-law-changes/1999-tax-law-changes-estimated-tax-payments