North Carolina Administrative Code (Last Updated: November 13, 2014) |
TITLE 17. REVENUE |
CHAPTER 05. CORPORATE FRANCHISE, INCOME, AND INSURANCE TAXES |
SUBCHAPTER C. CORPORATE INCOME TAX |
17 NCAC 05C .0402. OBLIGATIONS OF OTHER STATES
Latest version.
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Net interest income earned by a corporation on its investments in obligations issued by states and their political subdivisions other than the State of North Carolina, represents taxable income and is subject to this state's income tax.
History Note: Authority G.S. 105‑130.5; 105‑262;
Eff. February 1, 1976;
Amended Eff. April 1, 1991.