17 N.C. Admin. Code 5B.1109

Current through Register Vol. 39, No. 9, November 1, 2024

Section 05B .1109 - EQUITY CAPITAL NOT DEDUCTIBLE

The equity capital of a wholly owned subsidiary does not represent "indebtedness" owed to a parent corporation which the parent is entitled to deduct from its franchise tax base.

17 N.C. Admin. Code 05B .1109

Authority G.S. 105-122; 105-262;
Eff. February 1, 1976;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

Authority G.S. 105-122; 105-262;
Eff. February 1, 1976.