On April 3rd, the Senate released its 2019 tax plan - Senate Bill 622. If enacted, the bill would make important tax changes for businesses, including a phased reduction of the franchise tax rate, implementation of...more
4/10/2019
/ Federal Grants ,
Franchise Taxes ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Internet Retailers ,
Market Based Approach ,
Proposed Legislation ,
Sales Tax ,
State and Local Government ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Reform
On April 11, 2018, the General Assembly’s Revenue Laws Study Committee released a draft tax bill for possible introduction in the legislative session that convenes May 16. This Alert provides a summary of the more important...more
4/18/2018
/ Agricultural Workers ,
Breweries ,
Captive Insurance Company ,
Corporate Taxes ,
Federal Taxes ,
Foreign Derived Intangible Income (FDII) ,
Franchise Taxes ,
GAAP ,
GILTI tax ,
Historical Rehabilitation ,
Income Taxes ,
Intangible Property ,
Internal Revenue Code (IRC) ,
IRS ,
Limited Liability Company (LLC) ,
Opportunity Zones ,
Partnerships ,
Prescription Drugs ,
Property Tax ,
Proposed Legislation ,
Reconciliation ,
Repatriation ,
Sales & Use Tax ,
Sales Factor ,
Service Contracts ,
Suspensions ,
Tax Credits ,
Tax Exemptions ,
Tax Extensions ,
Tax Legislation ,
Tax Liability ,
Tax Returns ,
Wineries
North Carolina’s General Assembly is continuing the overhaul of the State’s tax system that it began in 2013. That year, the General Assembly slashed corporate and individual tax rates, eliminated many income tax deductions...more
9/25/2015
/ Corporate Taxes ,
Franchise Taxes ,
General Assembly ,
Income Taxes ,
Internal Revenue Code (IRC) ,
New Legislation ,
Property Tax ,
Proposed Legislation ,
Sales & Use Tax ,
Tax Credits ,
Tax Reform ,
Wage Statements