Enacted North Carolina legislation sets parameters for combination

On June 30, 2011, the North Carolina Governor Beverly Perdue signed legislation that allows the Secretary of Revenue to make adjustments or require combination when intercompany transactions lack economic substance or are not at fair market value, applicable to assessments proposed for taxable years beginning on or after January 1, 2012. [H.B. 619, enacted 6/30/11]

Return to Tax research and insights
State and Local Tax