17 NCAC 05C .0704 PRORATION OF DEDUCTIONS
Any allowable deduction that is applicable both to apportionable and nonapportionable income or to more than one "trade or business" of the taxpayer shall be prorated to those classes of income or trades or businesses in determining income subject to tax. The taxpayer shall be consistent in the proration of such deduction or deductions in filing returns under these Rules.
History Note: Authority G.S. 105‑130.4; 105‑262;
Eff. February 1, 1976;
Amended Eff. January 1, 2005; January 1, 1994;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.