2005-2006 Corporate Income Tax Technical Bulletins

Index


A B C D E F G H I J L M N O P R S T V W

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F

FEES

License taxes

   General provisions (105-33 - 105-109)

             See PRIVILEGE TAXES

Privilege taxes

   General provisions (105-33 - 105-109)

             See PRIVILEGE TAXES

Tax incentives for new and expanding business (105-129.6(a)(a1)) …..   III.B.3.j.

 

FELONIES

Attempt to evade or defeat tax (105-236) ………………….…………..   VIII.C.9.

Franchise tax

   Underpayment of tax

      Limited liability companies (105-114.1(d)) ……………………………….   I.J.

Fraud

   Aid or assistance in fraud (105-236) …………………………….   II.U.4., VIII.C.8.

 

FOREIGN CORPORATIONS

Applicability of laws (105-250) ……………………………………. I.E.1., II.A.1.

 

FORFEITURES

Tax incentives for new and expanding businesses

   Credits allowed under provisions (105-129.4(d)) ……….……………..   III.B.3.c.

 

FRANCHISE TAX

Appraised valuation of tangible property base ………………………………   I.I.

   Basis for tangible property ………………………………………………….   I.I.1.

   Holding company ………………………………………………………….. I.I.2.

   Investment base property included …………………………………………   I.I.3.

Burial

   Mutual burial associations (105-121.1) ……………………………………... I.D.

Business tax credits (105-129.15 - 105-129.24) …………………………….   III.C.

Capital stock, surplus and undivided profits base ………………………….   I.F.

   Based on year end balance sheet …………………………………………..   I.F.1.

   Borrowed capital defined …………………………………………………   I.F.12.

   Borrowed capital treatment (debtor corporation) …………………………. I.F.6.

   Borrowed capital treatment (creditor corporation) …….…………………..   I.F.7.

   Cash basis corporations …………………………………………………..   I.F.14.

   Creditor corporation defined …………………………………………….. I.F.13.

   Equity capital not deductible ……………………………………………… I.F.9.

   Exclusion of retained earnings by parent corporation ……………………..   I.F.4.

   Exclusion provision limited to indebtedness owed ………………………..  I.F.8.

   Indebtedness defined ……………………………………………………..   I.F.11.

   Investment in subsidiary …………………………………………………...   I.F.5.

   Items includable and excludable ………………………………………….. I.F.3.

   Reciprocal indebtedness between affiliates……………………………….   I.F.10.

   Surplus defined …………………………………………………………….   I.F.2.

Change of income year ……………………………………………………….      I.K.

   Computation of tax ………………………………………………………..  I.K.1.

   Computation of tax when merger is involved ……………………………..   I.K.2.

Charities

   Exemptions (105-125) ……………………………………………………….       I.L.

Cooperative associations

   Exemptions from provisions (105-125) ………………………………….….. I.L.

Corporate members of LLCs ………………………………………………… I.J.

Corporations

   Corporations subject to levy (105-114(a1)) ………………………... I.A.1., I.E.3.

   Credits (105-122(d1)) …………………………………………………….   V.C.6.

   Defined (105-114(b)) ………………………………………………………     I.A.2.

   Dissolved domestic corporations (105-127(f)) ……………………………   I.A.6.

   Exemptions (105-125) ……………………………………………………….       I.L.

   Holding companies (105-120.2) …………………………………………….       I.C.

   Minimum tax (105-122(d)) ………………………………………………...   I.E.8.

   Nature of tax upon (105-114(a)) ………………………………………….. I.A.1.

   Nonprofit corporations

      Exemptions (105-125) …………………………………………………..   I.L.1.

   Payment of tax (105-122(d)) ……………………………………………… I.A.7.

      Annual payment (105-127(a)) …………………………………………...   I.E.7.

   Rate of tax (105-122(c)) ………………….………………………………..    I.E.8. 

   Reports (105-122(a)) ………………………………………………………     I.E.7.

   Returns (105-122(a)) ………………………………………………………     I.E.7.

      Change of income year (105-122(e)) …………………………………….. I.K.

   Stock, surplus, and undivided profits

      Apportionment (105-122(c)) ……………………………………………     I.G.1.

      Determination of total amount (105-122(b)) ………………………………   I.F.

   Tax year (105-114(a3)) …………………………………………………….   I.E.7.

Corporations conditionally or partially exempt ……………………………. I.L.

   Corporations fully exempt …………………………………………………   I.L.2.

   Limited liability company (LLC) ………………………………………….   I.L.5.

   Nonprofit organizations ……………………………………………………   I.L.1.

   Real estate mortgage investment conduits (REMIC) ………………………     I.L.4.

   Regulated investment companies and real estate investment trusts ……….   I.L.3.

Credits

   Business tax credits (105-129.15 - 105-129.24)

             See BUSINESS TAX CREDITS

   Tax incentives for new and expanding businesses generally

         (105-129.2 - 105-129.14)

       See TAX INCENTIVES FOR NEW AND EXPANDING BUSINESSES

Definitions (105-114(b))

   Holding companies (105-120.2(c)) ………………………………………..   I.C.1.

Electric power, water and sewerage companies (105-116) ………………… I.B.

   Basis for taxation ………………………………………………………….. I.B.1.

   Distribution to cities (105-116.1(b))………………………………………. I.B.5.

   Due date of return and tax …………………………………………………   I.B.2.

      Electric power companies …………………………………………….. I.B.2.a.

      Water and sewerage companies ……………………………………….   I.B.2.b.

   Forms to be used for filing …………………………………………………   I.B.3.

   Payment, return, report (105-116(b)) .......………………………….    I.B.2., I.B.3.

   Special exemption ………………………………………………………… I.B.4.

   Tax rate (105-116(a) .......................………………………………. ………   I.B.1.

Exemptions (105-125) …………………………………………………………    I.L.

General business corporations ……………………………………………….   I.E.

   Basis for the tax ……………………………………………………………   I.E.1.

   Corporations required to file ………………………………………………. I.E.3.

   Forms to be used for filing …………………………………………………   I.E.5.

   Franchise tax bases ……………………….………………………………..  I.E.2.

   Franchise tax payable in advance ………………………………………….   I.E.9.

   No double taxation ………………………………………………………… I.E.4.

   Report and payment due …………………….……………………………..   I.E.7.

   Substitute returns ………………………………………………………….. I.E.6.

   Tax rate ……………………………………………………………………. I.E.8.

General information ………………………………………………………….   I.A.

   Corporation defined ……………………………………………………….    I.A.2.

   Dissolution or withdrawal of corporate rights …………………………….   I.A.6.

   Extension of filing date ……………………………………………………   I.A.8.

   Inactive corporations ………………………………………………………     I.A.5.

   Payment of franchise taxes ……………………………………………….. I.A.7.

   Period covered …………………………………………………………….   I.A.4.

   S Corporations …………………………………………………………….   I.A.3.

   Scope and nature …………………………………………………………...   I.A.1.

Gross receipts taxes collected on electric power and telephone

   companies (105-116) ……………………………………………………...   I.B.1.

Holding companies (105-120.2) ………………………………………………    I.C.

   Basis for taxation …………………………………………………………. I.C.2.

   Defined (105-120.2(c)) .........................……………………………………   I.C.1.

   Limitation of tax amount (105-120.2(a)(b1),

      105-120.2(a)(2)) …………………………………………..   I.C.2., I.H.9., I.I.2.

   Reports (105-120.2(a)) .........................................………………………… I.C.2.

Investment in tangible properties in North Carolina base ………………… I.H.

   Basis for the investment base ……………………………………………...  I.H.1.

   Determination of inclusion based on depreciation deduction ……………..   I.H.8.

   Holding company …………………………………………………………. I.H.9.

   Indebtedness deduction ……………………………………………………   I.H.4.

   Pollution abatement facilities …………………….………………………..   I.H.6.

   Qualifying recycling, sewer service, and hazardous waste facilities ……...   I.H.7.

   Refinancing of a loan ………………………………………………………     I.H.5.

   Treatment of construction in progress ……………………………………...   I.H.3.

   What is includable in the investment base ………………………………...   I.H.2.

Limited liability companies (105-114.1) ..........………………………..   I.J., I.L.5.

   Attribution (105-114.1(b)) ................…………………………………         I.J., I.L.5.

   Controlled companies (105-114.1(b)) ..………………………………. I.J., I.L.5.

   Corporate or related members (105-114.1) ........……………………... I.J., I.L.5.

Minimum tax (105-122(d)) ...............………………………………………. I.E.8.

Multistate corporations ………………………………………………………        I.G.

   Apportionment formula ……………………………………………………   I.G.1.

   Alternate apportionment formula ………………………………………….   I.G.2.

Mutual burial associations (105-121.1) ......………………………………….  I.D.

   Association billed for tax ………………………………………………….   I.D.3.

   Basis for taxation …………………………………………………………. I.D.1.

   Due date of tax …………………………………………………………….   I.D.2.

Nature of taxes (105-114(a)) ……………………………………………….. I.A.1.

New and expanding businesses

   Tax incentives generally (105-129.2 - 105-129.14)

       See TAX INCENTIVES FOR NEW AND EXPANDING BUSINESSES

Payment

   Condition for doing business in state (105-114(a2)) ………………………     I.A.1.

Real estate mortgage investment conduits

   Exemption (105-125) ………………………………………………………     I.L.4.

Religious societies

   Exemptions (105-125) ……………………………………………………..   I.L.1.

Reports

   Corporations (105-122(a)) …………………………………………………   I.E.5.

   Public utilities (105-116(b)) ………………………………………………. I.B.2.

Returns

   Corporations (105-122(a)) …………………………………………………   I.E.5.

      Change of income year (105-122(e)) ……………………………………... I.K.

   Extension of time for filing (105-129) ……………………………………. I.A.8.

Tax incentives for new and expanding businesses generally

      (105-129.2 - 105-129.14)

   See TAX INCENTIVES FOR NEW AND EXPANDING BUSINESSES

Tax year (105-114(a3)) …………………….……………………………….   I.A.4.

Underpayment of tax

   Limited liability companies (105-114.1(d)) ………………………………….        I.J.

 

FRAUD

Penalties (105-236)

   Aid or assistance in fraud (105-236) …………………………..   II.U.4., VIII.C.9.

 


A B C D E F G H I J L M N O P R S T V W