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North Carolina legislative tax alert

Williams Mullen
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USA
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June 12 2013

For several months, the North Carolina Senate and House have considered competing tax reform proposals. On Monday, June 10, the House passed HB 998

Bill filed to replace franchise tax with business privilege tax

Williams Mullen
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USA
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March 27 2013

North Carolina's franchise tax has been criticized as complicated and difficult to understand. The taxpayer must make three separate computations in

Salt alert: North Carolina corporate income and franchise tax developments

Williams Mullen
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USA
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October 22 2012

The Court of Appeals has affirmed in part and reversed in part the decision of the North Carolina Business Court in Delhaize America, Inc. v. Lay (lower court decision: 2011 NCBC 2 (Jan. 12, 2011

North Carolina tax update

Williams Mullen
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USA
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July 23 2012

This North Carolina corporate income tax alert discusses developments from the recently concluded short session of the General Assembly

Revenue Laws Study Committee considers changes to forced combination legislation

Williams Mullen
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USA
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November 4 2011

The Revenue Laws Study Committee met on November 2 to review the status of recent legislation dealing with the Department of Revenue’s authority to require corporations to file combined corporate income tax returns (“forced combination”) and make other discretionary adjustments

Recent developments in North Carolina property tax

Williams Mullen
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USA
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October 12 2011

In a case decided on August 2, 2011, In re Appeal of Blue Ridge Mall LLC, No. COA10-1487, the Court of Appeals, in affirming the decision of the North Carolina Property Tax Commission (“PTC”) lowering the assessed value of a regional mall, comprehensively summarized the law of North Carolina relating to the assessment of income producing properties, the burden of production and proof, and the review of a PTC decision by an appellate court under a whole record review

Update on legislative revision of Secretary of Revenue’s authority to require combined tax returns and make other discretionary adjustments.

Williams Mullen
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USA
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October 7 2011

For the past six years, corporate taxpayers have been battling attempts by the North Carolina Department of Revenue (“Department”) to force combination of separate entity corporate tax returns, which has typically resulted in substantial corporate tax assessments

Update to the Internal Revenue Code reference includes limited decoupling provisions.

Williams Mullen
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USA
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October 7 2011

The reference to the Internal Revenue Code, which provides the starting point for determining North Carolina taxable income, has been updated to January 1, 2011

Delhaize files petition for discretionary review with the North Carolina Supreme Court

Williams Mullen
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USA
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October 7 2011

In January 2011, the North Carolina Business Court decided Delhaize America, Inc. v. Lay

William S. Lee Act installment credit qualifications revised.

Williams Mullen
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USA
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October 7 2011

In order to encourage business investment, the General Assembly has added a new option to qualify for certain installment credits of tax credits earned under the William S. Lee Act under Article 3A of Chapter 105 (which was repealed for business activities occurring on or after January 1, 2007

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