Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
North Carolina enacts income and franchise tax law changes On November 18, 2021, the North Carolina governor signed into law Senate Bill 105 (S.B. 105), which phases out the corporate income tax, simplifies the calculation of the franchise tax, enacts a pass-through entity tax, updates the state’s conformity to the Internal Revenue Code, and makes various changes to the state’s individual income tax provisions.
This Multistate Tax Alert summarizes some of the income and franchise tax changes made by S.B. 105. [Issued: November 30, 2021] More
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