17 NCAC 05C .0101. DOMESTIC AND FOREIGN CORPORATIONS REQUIRED TO FILE

(a)  A foreign corporation operating in North Carolina may be liable for income tax even if it is not required to obtain a certificate of authority to do business in North Carolina.  For example, a Virginia corporation engaged in the general contracting business which obtains a single job in North Carolina to be completed within six months, would not, under the Business Corporation Act, be required to obtain a certificate of authority to do business in this state but would be subject to income tax.

(b)  Even for a year in which a domestic or foreign corporation conducted no business activity or did not earn any net income, it must file an income tax return.

 

History Note:        Authority G.S. 105‑130.3; 105‑130.4; 105-130.16; 105‑262;

Eff. February 1, 1976;

Amended Eff. January 1, 1994.