Section 105-130.14 - Corporations filing consolidated returns for federal income tax purposesAny corporation electing or required to file a consolidated income tax return with the Internal Revenue Service must determine its State net income as if the corporation had filed a separate federal return and shall not file a consolidated or combined return with the Secretary unless one of the following applies:
(1) The corporation is specifically directed in writing by the Secretary under G.S. 105-130.5A to file a consolidated or combined return.(2) Repealed by Session Laws 2012-79, s. 1.14(c), effective June 26, 2012.(3) Pursuant to a written request from the corporation under G.S. 105-130.5A, the Secretary has provided written advice to the corporation stating that the Secretary will allow a consolidated or combined return under the facts and circumstances set out in the request and the corporation files a consolidated or combined return in accordance with that written advice.N.C. Gen. Stat. § 105-130.14
Amended by 2012 N.C. Sess. Laws 79,s. 1.14-c, eff. 6/26/2012.Amended by 2010 N.C. Sess. Laws 31,s. 31.10.(e), eff. 6/30/2010. 1967, c. 1110, s. 3; 1973, c. 476, s. 193.