17 NCAC 05C .1506         CORPORATIONS APPORTIONING THEIR NET INCOME

A corporation required to apportion its net income or net loss under G.S. 105-130.4 may carry forward only a portion of its State net loss. For example, a corporation apportioning 50 percent of its net income or loss to North Carolina in a particular year in which it sustains a total State net loss of one thousand dollars ($1,000.00) may carry forward only five hundred dollars ($500.00) to a subsequent year.

History Note:        Authority G.S. 105-130.8; 105-130.8A; 105-262;

Eff. February 1, 1976;

Amended Eff. January 1, 2005;

Readopted Eff. May 1, 2018.