N.C. Gen. Stat. § 105-122.1

Current through Session Law 2024-56

Section 105-122.1 - Credit for additional annual report fees paid by limited liability companies subject to franchise tax

A limited liability company subject to tax under this Article is allowed a credit against the tax imposed by this Article equal to the difference between the annual report fee for corporations under G.S. 55-1-22(a)(23) and the annual report fee for limited liability companies under G.S. 57D-1-22. The credit allowed by this section may not exceed the amount of tax imposed by this Article for the taxable year reduced by the sum of all credits allowed, except payments of tax made by or on behalf of the taxpayer.

N.C. Gen. Stat. § 105-122.1

Amended by 2013 N.C. Sess. Laws 157,s. 26, eff. 1/1/2014.

Amended by 2007 N.C. Sess. Laws 323,s. 30.6.(b), eff. 1/1/2007.

Added by 2006 N.C. Sess. Laws 66,s. 24A.2.(c), eff. 1/1/2007.

2007 N.C. Sess. Laws 323,s. 30.6.(c), provides, in part, "Subsection (b) of this section is effective for taxable years beginning on or after January 1, 2007."