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 .2404. DIVIDENDS RECEIVED FROM DISC
Latest version.
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Dividends received by a corporate shareholder from a DISC must be included in the corporate shareholder's taxable income. Dividends received from a DISC by a corporate shareholder taxable in another state must be included in the corporate shareholder's apportionable income and apportioned to North Carolina. The term "dividends" means all amounts currently taxable under the Internal Revenue Code to corporate shareholders of a DISC whether or not distributed.
History Note: Authority G.S. 105-130.4; 105‑262;
Eff. December 5, 1976;
Amended Eff. January 1, 2005; August 1, 2002.