section .0400 – exclusion of receipts from the sales factor

17 NCAC 05g .0401         Allocated Gross receipts

The sales factor includes only gross receipts of the taxpayer that are not allocated under G.S. 105-130.4, and are received from transactions and activity in the regular course of the taxpayer's trade or business. Receipts addressed in G.S. 105-130.4(a)(7) shall be excluded.

History Note:        Authority G.S. 105-130.4; 105-130.4(a)(7); S.L. 2016-5; S.L. 2016-94;

Eff. January 1, 2020 (See S.L. 2019-246, s. 3).