17 N.C. Admin. Code 5C.0402

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

Section 05C .0402 - OBLIGATIONS OF OTHER STATES

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.

17 N.C. Admin. Code 05C .0402

Authority G.S. 105-130.5; 105-262;
Eff. February 1, 1976;
Amended Eff. April 1, 1991;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

Authority G.S. 105-130.5; 105-262;
Eff. February 1, 1976;
Amended Eff. April 1, 1991.