This Alert summarizes all the material amendments to Chapter 105 of the North Carolina General Statutes ratified to date during the General Assembly’s 2024 short session....more
The North Carolina General Assembly ended its 2022 short session on July 1. While the legislature is scheduled to reconvene on July 26, no additional tax legislation is expected to be considered....more
7/8/2022
/ Captive Insurance Company ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Franchise Taxes ,
General Assembly ,
Income Taxes ,
Payroll Taxes ,
Pending Legislation ,
Property Tax ,
Sales Tax ,
State and Local Government ,
State Budgets ,
State Taxes ,
Wildlife Protection
On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more
11/19/2021
/ Corporate Taxes ,
General Assembly ,
Governor Cooper ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Pass-Through Entities ,
Popular ,
Property Tax ,
Sales Tax ,
State Budgets ,
State Legislatures ,
State Taxes ,
Tax Credits
The North Carolina General Assembly concluded the regular business of its 2020 session on Friday, June 26, 2020. While the session will not formally adjourn until September 3, 2020, the only business expected to be considered...more
House Bill 1080, containing the Revenue Laws Study Committee’s recommended tax changes, was introduced in the General Assembly on May 14, 2020. The bill has passed its first reading and is now in committee. This Alert...more
This Alert summarizes the more significant tax provisions enacted by the North Carolina General Assembly in 2019. The most important tax changes were originally included in House Bill 966, the 2019 Appropriations Act (the...more
11/12/2019
/ Apportionment ,
Appropriations Bill ,
Corporate Taxes ,
Department of Revenue ,
Digital Marketplace ,
E-Commerce ,
Franchise Taxes ,
General Assembly ,
Governor Vetoes ,
Income Taxes ,
Online Marketplace ,
Pending Legislation ,
Sales Tax ,
State Budgets ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions
This Alert summarizes the more significant tax provisions included in House Bill 966, the 2019 Appropriations Act (the “Bill”). The Bill, a Conference Committee measure reconciling the House and Senate budget proposals, was...more
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 August 7, 2018, the North Carolina Department of Revenue issued a Directive (SD-18-6) requiring remote sellers to begin collecting North Carolina sales tax on sales of goods and services to North Carolina customers. The...more
Previous Alerts dated April 17 and May 15 described the North Carolina draft tax legislation developed by the Revenue Laws Study Committee for introduction in the General Assembly’s short session, which began on Wednesday....more
On Tuesday, May 8th, the General Assembly’s Revenue Laws Study Committee released a revised version of its draft tax bill intended for introduction in the legislature’s upcoming short session. The original version of the...more
Two previous Tax Alerts, Tax Provisions in the 2017 Budget Bill (June 20, 2017) and Tax Legislation Enacted During the Regular Session of the 2017 North Carolina General Assembly (June 30, 2017), summarized the major tax...more
9/15/2017
/ Corporate Taxes ,
Franchise Taxes ,
Historical Rehabilitation ,
Holding Companies ,
Income Apportionment ,
Income Taxes ,
Non-Resident Income Taxes ,
Property Tax ,
Sales Tax ,
Tax Credits ,
Tax Deductions
The General Assembly released today the Proposed Conference Committee Substitute (the “Conference Bill”) for Senate Bill 257, the state budget bill. The Conference Bill is expected to be approved by the General Assembly later...more
This Alert summarizes the major tax provisions included in legislation passed by the 2015-2016 North Carolina General Assembly in its short session, which concluded earlier this month.
The most widely discussed tax...more
7/12/2016
/ Corporate Taxes ,
Franchise Taxes ,
General Assembly ,
Governor McCrory ,
New Legislation ,
Pending Legislation ,
Property Tax ,
Protecting Americans from Tax Hikes (PATH) Act ,
Sales Tax ,
State Taxes ,
Tax Deductions ,
Tax Refunds