Section 105-241.10 - Limit on refunds and assessments after a federal determinationThe limitations in this section apply when a taxpayer files a timely return reflecting a federal determination that affects the amount of State tax payable and the general statute of limitations for requesting a refund or proposing an assessment of the State tax has expired. A return reflecting a federal determination is timely if it is filed within the time required by G.S. 105-130.20, 105-159, 105-160.8, or 105-163.6A, as appropriate. A federal determination has the same meaning as defined in G.S. 105-228.90. The limitations are:
(1) Refund. - A taxpayer is allowed a refund only if the refund is the result of adjustments related to the federal determination.(2) Assessment. - A taxpayer is liable for additional tax only if the additional tax is the result of adjustments related to the federal determination. A proposed assessment may not include an amount that is outside the scope of this liability.N.C. Gen. Stat. § 105-241.10
Amended by 2018 N.C. Sess. Laws 5,s. 38.3-f, eff. 6/12/2018.Amended by 2013 N.C. Sess. Laws 316,s. 7-b, eff. 1/1/2013.Amended by 2008 N.C. Sess. Laws 107,s. 28.18.(d), eff. 1/1/2009.Added by 2007 N.C. Sess. Laws 491,s. 1, eff. 1/1/2007.2007 N.C. Sess. Laws 491,s. 47, provides, in part, "G.S. 105-241.10, as enacted by Section 1 of this act, and Sections 6, 15, 16, 17, and 22 are effective for taxable years beginning on or after January 1, 2007."