20 NCAC 04 .0102. GENERAL PURPOSE

The Tax Review Board is an administrative agency having jurisdiction to hear appeals from decisions of the Secretary of Revenue and the Commissioner of Insurance; to review and approve proposed regulations upon tax collections and tax law administration and to give these regulations the force of law; to hear and to consider petitions from corporate taxpayers for use of alternate allocation formulas in determining tax bases for franchise and income taxes; and to prescribe formulas binding upon the taxpayer and the Secretary of Revenue.

 

History Note:        Authority G.S. 105‑269.2;

105‑122(c)(2); 105‑130.4(s);

105‑241.2; 105‑262;

Eff. February 1, 1976;

Readopted Eff. September 30, 1977.