The Department of Revenue (the “Department”) recently released two documents containing its “substantive” and “clarifying” requests for legislative changes to North Carolina’s revenue laws. Most of the requests include...more
2/25/2025
/ Corporate Taxes ,
Department of Revenue ,
Franchise Taxes ,
Income Taxes ,
Legislative Agendas ,
Net Operating Losses ,
State and Local Government ,
State Taxes ,
Tax Credits ,
Tax Reform ,
Tax Revenues
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
On April 3, 2023, the North Carolina Business Court issued opinions handing taxpayers decisive victories in two cases that are part of a long-running dispute over the state’s now-expired renewable energy tax credit program. ...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 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 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
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