SECTION .0400 ‑ INTEREST INCOME ON GOVERNMENT OBLIGATIONS

17 NCAC 05C .0401         NORTH CAROLINA OBLIGATIONS

Net interest income received by a corporation on obligations of the State of North Carolina and any of its cities, towns or counties is exempt from income taxes imposed by this state.

History Note:        Authority G.S. 105‑130.5; 105‑262;

Eff. February 1, 1976;

Amended Eff. April 1, 1991;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.