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North Carolina General Statutes Chapter 105. Taxation § 105-130.14. Corporations filing consolidated returns for federal income tax purposes

Current as of January 01, 2023 | Updated by Findlaw Staff

Any corporation electing or required to file a consolidated income tax return with the Internal Revenue Service must determine its State net income as if the corporation had filed a separate federal return and shall not file a consolidated or combined return with the Secretary unless one of the following applies:

(1) The corporation is specifically directed in writing by the Secretary under G.S. 105-130.5A to file a consolidated or combined return.

(2) Repealed by S.L. 2012-79, § 1.14(c), eff. June 26, 2012.

(3) Pursuant to a written request from the corporation under G.S. 105-130.5A, the Secretary has provided written advice to the corporation stating that the Secretary will allow a consolidated or combined return under the facts and circumstances set out in the request and the corporation files a consolidated or combined return in accordance with that written advice.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 105. Taxation § 105-130.14. Corporations filing consolidated returns for federal income tax purposes - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-105-taxation/nc-gen-st-sect-105-130-14/

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