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  1. taxnews.ey.com › news › 2022-1492-north-carolinaNorth Carolina makes technical and clarifying changes to its ...

    Currently, North Carolina's franchise tax is levied on the largest of three bases: (1) the taxpayer's North Carolina apportioned net worth; (2) 55% of the appraised value of all real and tangible personal property in the state; or (3) the taxpayer's total investment in tangible property in the state. 3 Under all three bases, the tax is levied ...

  2. taxnews.ey.com › news › 2021-2174-north-carolinaNorth Carolina enacts significant tax law changes for ... - EY

    Previously, North Carolina's franchise tax was levied on the largest of three bases: (1) a corporation's North Carolina apportioned net worth; (2) 55% of the appraised value of all a corporation's real and tangible personal property in North Carolina; or (3) a corporation's total investment in tangible property in North Carolina. 6 Under all ...

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  4. dhub.blob.core.windows.net › dhub › NewslettersNorth Carolina DOR Summarizes Law Changes on Net Worth ...

    The North Carolina Department of Revenue (Department) issued a summary of tax legislative changes that “take effect for tax year 2022 as well as changes made by the 2022 General Assembly, regardless of effective date.”.

  5. www2.deloitte.com › content › damOverview - Deloitte US

    Under current law, a corporate taxpayer’s franchise tax base is the greater of the following alternate bases: (1) the taxpayer’s net worth apportioned to North Carolina using the corporation’s income tax apportionment factor; (2) 55% percent of the appraised value of all real and tangible personal property in North Carolina; or (3) the taxpayer’...

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  6. www.pwc.com › us › enNorth Carolina enacts corporate income tax phaseout: PwC

    North Carolina legislation enacted on November 18 phases out the corporate income tax starting with tax years beginning in 2025, updates conformity to the Internal Revenue Code, simplifies the corporate franchise tax calculation, lowers personal income tax rates, and provides an elective passthrough entity tax, among other changes.

  7. files.nc.gov › ncdor › press-release2018 TAX LAW CHANGES - NC

    The 2018 legislative session brought many changes to the Revenue laws and the North Carolina Department of Revenue. The 2018 Tax Law Changes is designed for use by the North Carolina Department of Revenue personnel and is available to others as a resource document.

  8. www.brc.cpa › 2021/11/18 › north-carolina-taxNorth Carolina Tax Legislation Update: What Changes are ...

    Nov 18, 2021 · Complete Phase-Out of the Corporate Income Tax Rate: The current North Carolina corporate tax rate is 2.5%. That rate will remain in effect until tax years beginning in 2025 at which point the corporate tax rate will start phasing out until it is completely phased out for tax years beginning in 2029.