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Category: North Carolina
21 Articles
Orange arrow North Carolina Estimated Tax Payments

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  You are required to pay estimated income tax if the tax shown due on your return, reduced by your North Carolina tax withheld and allowable tax credits, is $1,000 or more regardless of the amount of income you have that is not subject to withholding. Each payment of estimated tax must be accompanie...
Orange arrow How can I file an extension for my North Carolina state taxes?

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  Beginning with tax year 2019, a taxpayer that receives an automatic extension to file a federal individual income tax return will be granted an automatic state extension to file the N.C. individual income tax return, Form D-400. In order to receive the automatic state extension, you MUST fill in th...
Orange arrow North Carolina Nongame and Endangered Wildlife Fund

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  Help keep North Carolina wild by contributing a portion of your refund to the N.C. Nongame and Endangered Wildlife Fund. Your tax deductible contributions are essential to monitoring and managing our wildlife populations, including turtles, flying squirrels, frogs, mussels, salamanders, and hundred...
Orange arrow When do I need to file my North Carolina tax return?

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  If you file your return on a calendar year basis, the 2019 return is due on or before April 15th, 2020. A fiscal year return is due on the 15th day of the 4th month following the end of the taxable year. When the due date falls on a Saturday, Sunday, or legal holiday, the return is due on or before...
Orange arrow North Carolina Additions

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  Interest Income from Obligations of StatesOther than North Carolina. Enter the amount of interest received from notes, bonds, and other obligations of states and political subdivisions other than North Carolina if not included in federal adjusted gross income. This includes exempt interest dividen...
Orange arrow North Carolina Deductions

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  State Income Tax Refund. Enter the amount of any state or local income tax refund that is included in federal adjusted gross income Interest from United States Obligations. Enter the amount of interest received from notes, bonds, and other obligations of the United States (such as U.S. savings...
Orange arrow North Carolina Credit for Tax paid to another state

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  When income is taxed by North Carolina for a period during which you were a legal resident of North Carolina and the same income is also taxed by another state or country because it was earned in or derived from sources within that state or country, a tax credit may be claimed, but not on the basis...
Orange arrow North Carolina Credits

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  Credit for Income Tax Paid to Another State or Country – N.C. Residents Only When income is taxed by North Carolina for a period during which you were a legal resident of North Carolina and the same income is also taxed by another state or country because it was earned in or derived from sou...
Orange arrow North Carolina NC-478 Business Incentive and Energy Credit

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  Use the NC-478 series to calculate and report tax credits that are limited to 50% of tax less the sum of all other tax credits claimed. The NC-478 letter series forms are used to calculate the specific credits available without regard to the 50% limitation and are designed to report a taxpayer&rsqu...
Orange arrow North Carolina Adjustment for Additional First Year Depreciation

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  Bonus Depreciation. You may deduct an amount equal to 20% of the bonus depreciation deduction added to federal adjusted gross income on your 2014, 2015, 2016, 2017, and 2018 state tax returns. IRC Section 179 Expense. You may deduct an amount equal to 20% of the IRC section 179 expense deduct...
Orange arrow Do I need to amend my North Carolina state return?

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  Generally, an amended return on which you owe additional tax is required to be filed and the tax paid within three years after the date you filed your return or within three years from the date required by law for filing the return, whichever is later. If the Internal Revenue Service makes change...
Orange arrow North Carolina Use Tax

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  North Carolina use tax is due by individuals and businesses on tangible personal property purchased, leased or rented inside or outside this state for storage, use, or consumption in North Carolina pursuant to G.S. 105-164.6. Use tax is also due on taxable services sourced to North Carolina and cer...
Orange arrow North Carolina part year / non resident returns

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  If you or your spouse, if married filing jointly, were not full-year residents of North Carolina during tax year 2019, you must complete Form D-400 PN to determine the percentage of federal adjusted gross income, as adjusted, that is subject to North Carolina income tax. You are a “part-year ...
Orange arrow North Carolina Part-Year and Nonresident

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  If you or your spouse, if married filing jointly, were not full-year residents of North Carolina during tax year 2019, you must complete Form D-400 PN to determine the percentage of federal adjusted gross income, as adjusted, that is subject to North Carolina income tax. You are a “part-year ...
Orange arrow Am I required to file a North Carolina income tax return?

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  The minimum gross income filing requirements under North Carolina law are different from the filing requirements under the Internal Revenue Code because North Carolina law does not allow the same standard deduction amount as the Internal Revenue Code. Even if your federal gross income was less than...

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