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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter105. Taxation. |
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SubchapterI. LEVY OF TAXES |
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Article4. Income Tax |
| Part 1. Corporation Income Tax |
| § 105-130. Short title |
| § 105-130.1. Purpose |
| § 105-130.2. Definitions |
| § 105-130.3. (Effective for taxable years beginning on or after January 1, 2015) Corporations |
| § 105-130.3A. Expired |
| § 105-130.3B. Expired pursuant to its own terms, effective for taxable years beginning on or after January 1, 2011 |
| § 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 |
| § 105-130.6. (Repealed effective for taxable years beginning on or after January 1, 2012) Subsidiary and affiliated corporations |
| § 105-130.6A. Adjustment for expenses related to dividends |
| § 105-130.7. Repealed by Session Laws 2003-349, s. 1.1, effective January 1, 2003 |
| § 105-130.7A. Royalty income reporting option |
| § 105-130.8. (Repealed effective for taxable years beginning on or after January 1, 2015) Net economic loss |
| § 105-130.8A. (Effective for taxable years beginning on or after January 1, 2015) Net loss provisions |
| § 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 |
| § 105-130.13. Repealed by Session Laws 1987 (Regular Session, 1988), c. 1089, s. 2; as amended by Session Laws 1989, c. 728, s. 1.33 |
| § 105-130.14. Corporations filing consolidated returns for federal income tax purposes |
| § 105-130.15. Basis of return of net income |
| § 105-130.16. (Effective for taxable years beginning on or after January 1, 2012) Returns |
| § 105-130.17. Time and place of filing returns |
| § 105-130.18. Repealed by Session Laws 2009-445, s. 7, effective August 7, 2009 |
| § 105-130.19. When tax must be paid |
| § 105-130.20. Federal corrections |
| § 105-130.21. Information at the source |
| § 105-130.22. (Repealed effective for taxable years beginning on or after January 1, 2014) Tax credit for construction of dwelling units for handicapped persons |
| § 105-130.23. Repealed by Session Laws 1999-342, s. 1, effective for taxable years beginning on or after January 1, 2000 |
| § 105-130.24. Repealed by Session Laws 1983 (Regular Session, 1984), c. 1004, s. 2 |
| § 105-130.25. Credit against corporate income tax for construction of cogenerating power plants |
| § 105-130.26. Repealed by Session Laws 1999-342, s. 1, effective for taxable years beginning on or after January 1, 2000 |
| § 105-130.27. Expired |
| § 105-130.27A. Repealed by Session Laws 1999-342, s. 1, effective for taxable years beginning on or after January 1, 2000 |
| § 105-130.28. Repealed by Session Laws 2000-128, s. 3, effective for costs incurred during taxable years beginning on or after January 1, 2006 |
| §§ 105-130.29 through 105-130.33. Repealed by Session Laws 1999-342, s. 1 |
| § 105-130.34. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for certain real property donations |
| § 105-130.35. Recodified as § 105-269.5 by Session Laws 1991, c. 45, s. 20 |
| § 105-130.36. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for conservation tillage equipment |
| § 105-130.37. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for gleaned crop |
| § 105-130.38. Repealed by Session Laws 1996, Second Extra Session, c. 14, s. 1 |
| § 105-130.39. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for certain telephone subscriber line charges |
| § 105-130.40. Recodified as § 105-129.8 by Session Laws 1996, 2nd Extra Session, c. 13, s. 3.2 |
| § 105-130.41. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for North Carolina State Ports Authority wharfage, handling, and throughput charges |
| § 105-130.42. Recodified as §§ 105-129.35 through 105-129.37 by Session Laws 1999-389, ss. 2-4, effective for taxable years beginning on or after January 1, 1999 |
| § 105-130.43. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for savings and loan supervisory fees |
| § 105-130.44. (Repealed effective for taxable years beginning on or after January 1, 2014) Credit for construction of poultry composting facility |
| § 105-130.45. (Repealed effective January 1, 2018) Credit for manufacturing cigarettes for exportation |
| § 105-130.46. (See notes for expiration date) Credit for manufacturing cigarettes for exportation while increasing employment and utilizing State Ports |
| § 105-130.47. (Repealed for qualifying expenses occurring on or after January 1, 2015) Credit for qualifying expenses of a production company |
| § 105-130.48. (Repealed for taxable years beginning on or after January 1, 2014) Credit for recycling oyster shells |
| 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 |
| § 105-132. Recodified as § 105-135 by Session Laws 1967, c. 1110, s. 3 |
| Part 2. Individual Income Tax |
| § 105-133. (Recodified for taxable years beginning on or after January 1, 2014 - see editor's note) Short title |
| § 105-134. (Recodified for taxable years beginning on or after January 1, 2014 - see editor's note) Purpose |
| § 105-134.1. (Effective for taxable years beginning on or after January 1, 2012 and recodified effective for taxable years beginning on or after January 1, 2014 - see editor's note) Definitions |
| § 105-134.2. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Individual income tax imposed |
| § 105-134.2A. Expired pursuant to its own terms, effective for taxable years beginning on or after January 1, 2011 |
| § 105-134.3. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Year of assessment |
| § 105-134.4. (Repealed effective for taxable years beginning on or after January 1, 2012) Taxable year |
| § 105-134.5. (Effective for taxable years beginning on or after January 1, 2012 and recodified effective for taxable years beginning on or after January 1, 2014) North Carolina taxable income defined |
| § 105-134.7. Transitional adjustments |
| § 105-134.8. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Inventory |
| §§ 105-135 through 105-149. Repealed by Session Laws 1989, c. 728, s. 1.3 |
| § 105-150. Repealed by Session Laws 1973, c. 1287, s. 5 |
| § 105-151. (Recodified effective for taxable years beginning on or after January 1, 2014) Tax credits for income taxes paid to other states by individuals |
| § 105-151.1. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for construction of dwelling units for handicapped persons |
| § 105-151.2. Repealed by Session Laws 1999-342, s. 1, effective for taxable years beginning on or after January 1, 2000 |
| § 105-151.3. Repealed by Session Laws 1983 (Regular Session 1984), c. 1004, s. 2 |
| § 105-151.4. Repealed by Session Laws 1989, c. 728, s. 1.8 |
| § 105-151.5. Repealed by Session Laws 1999-342, s. 1, effective for taxable years beginning on or after January 1, 2000 |
| § 105-151.6. Expired |
| § 105-151.6A. Repealed by Session Laws 1989, c. 728, s. 1.11 |
| §§ 105-151.7 through 105-151.10. Repealed by Session Laws 1999-342, s. 1, effective for taxable years beginning on or after January 1, 2000 |
| § 105-151.11. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for child care and certain employment-related expenses |
| § 105-151.12. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for certain real property donations |
| § 105-151.13. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for conservation tillage equipment |
| § 105-151.14. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for gleaned crop |
| § 105-151.15. Repealed by Session Laws 1996, 2nd Extra Session, c. 14, s. 1 |
| § 105-151.16. Repealed by Session Laws 1989, c. 728, s. 1.21 |
| § 105-151.17. Recodified as § 105-129.8 by Session Laws 1996, 2nd Extra Session, c. 13, s. 3.4 |
| § 105-151.18. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for the disabled |
| § 105-151.19. Repealed by Session Laws 1996, 2nd Extra Session, c. 14, s. 2 |
| § 105-151.20. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit or partial refund for tax paid on certain federal retirement benefits |
| § 105-151.21. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for property taxes paid on farm machinery |
| § 105-151.22. (Repealed effective for taxable years beginning after January 1, 2014) Credit for North Carolina State Ports Authority wharfage, handling, and throughput charges |
| § 105-151.23. Recodified as §§ 105-129.35 through 105-129.37 by Session Laws 1999-389, s. 6, effective for taxable years beginning on or after January 1, 1999 |
| § 105-151.24. (Recodified effective for taxable years beginning on or after January 1, 2014 - see editor's note) Credit for children |
| § 105-151.25. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Credit for construction of a poultry composting facility |
| § 105-151.27. Repealed by Session Laws 2001-424, s. 34.21(a), effective for taxable years beginning on or after January 1, 2001 |
| § 105-151.28. (Repealed for taxable years beginning on or after January 1, 2014) Credit for premiums paid on long-term care insurance |
| § 105-151.29. (Repealed for qualifying expenses occurring on or after January 1, 2015) Credit for qualifying expenses of a production company |
| § 105-151.30. (Repealed for taxable years beginning on or after January 1, 2014) Credit for recycling oyster shells |
| § 105-151.31. (Repealed for taxable years beginning on or after January 1, 2014) Earned income tax credit |
| § 105-151.32. (Repealed for taxable years beginning on or after January 1, 2014) Credit for adoption expenses |
| § 105-151.33. (Repealed effective for taxable years beginning on or after January 1, 2014 - see note) Education expenses credit |
| § 105-152. (Recodified for taxable years beginning on or after January 1, 2014 - see editor's note) Income tax returns |
| § 105-152.1. Repealed by Session Laws 1991 (Regular Session, 1992), c. 930, s. 12 |
| § 105-153. Repealed by Session Laws 1967, c. 1110, s. 3 |
| § 105-153.1. (Effective for taxable years beginning on or after January 1, 2014) Short title |
| § 105-153.2. (Effective for taxable years beginning on or before January 1, 2014) Purpose |
| § 105-153.3. (Effective for taxable years beginning on or after January 1, 2014) Definitions |
| § 105-153.4. North Carolina taxable income defined |
| § 105-153.5. (Effective for taxable years beginning on or after January 1, 2014) Modifications to adjusted gross income |
| § 105-153.6. (Effective for taxable years beginning on or after January 1, 2014) Adjustments when State decouples from federal accelerated depreciation and expensing |
| § 105-153.7. (Effective for taxable years beginning on or after January 1, 2014) Individual income tax imposed |
| § 105-153.8. (Effective for taxable years beginning on or after January 1, 2014) Income tax returns |
| § 105-153.9. (Effective for taxable years beginning on or after January 1, 2014) Tax credits for income taxes paid to other states by individuals |
| § 105-153.10. (Effective for taxable years beginning on or after January 1, 2014) Credit for children |
| § 105-154. Information at the source returns |
| § 105-155. Time and place of filing returns; extensions; affirmation |
| § 105-156. Repealed by Session Laws 2009-445, s. 7, effective August 7, 2009 |
| § 105-156.1. Repealed by Session Laws 1989, c. 728, s. 1.28 |
| § 105-157. When tax must be paid |
| § 105-158. Taxation of certain Armed Forces personnel and other individuals upon death |
| § 105-159. Federal corrections |
| § 105-159.1. Repealed by Session Law 2013-38.1(e), effective July 1, 2013 |
| § 105-159.2. Repealed by Session Laws 2013-360, s. 21.1(c), as amended by Session Laws 2014-3, s. 14.15, and Session Laws 2013-381, s. 38.1(f), effective July 1, 2013 |
| Part 3. Income Tax - Estates, Trusts, and Beneficiaries |
| § 105-160. Short title |
| § 105-160.1. Definitions |
| § 105-160.2. (Effective for taxable years beginning on or after January 1, 2014) Imposition of tax |
| § 105-160.3. Tax credits |
| § 105-160.4. Tax credits for income taxes paid to other states by estates and trusts |
| § 105-160.5. Returns |
| § 105-160.6. Time and place of filing returns |
| § 105-160.7. When tax must be paid |
| § 105-160.8. Federal corrections |
| §§ 105-161 through 105-163. Repealed by Session Laws 1989, c. 728, s. 1.37 |
| §§ 105-163.01 through 105-163.06. Repealed by Session Laws 1991, c. 45, s. 14(b) |
| § 105-163.07. Recodified as § 105-151.21 by Session Laws 1991, c. 45, s. 14 |
| §§ 105-163.08 through 105-163.09. Repealed by Session Laws 1991, c. 45, s. 14(b) |
| Part 5. Tax Credits for Qualified Business Investments |
| § 105-163.010. (Repealed effective for investments made on or after January 1, 2014) Definitions |
| § 105-163.011. (Repealed effective for investments made on or after January 1, 2014) Tax credits allowed |
| § 105-163.012. (Repealed effective for investments made on or after January 1, 2014) Limit; carry-over; ceiling; reduction in basis |
| § 105-163.013. (Repealed for investments made on or after January 1, 2014) Registration |
| § 105-163.014. (Repealed for investments made on or after January 1, 2014) Forfeiture of credit |
| § 105-163.015. Sunset |