North Carolina Extends PTET Election Due Date and Clarifies Franchise Tax Base Cap Computation
Cherry Bekaert
MAY 28, 2024
508 clarifies the computation of the upcoming C-Corporation 2025 franchise tax base cap. Starting January 1, 2025, the franchise tax for C-Corporations will be $1.50 per $1,000 of its tax base. However, the maximum for the first $1,000,000 of a corporation’s tax base is $500. Additionally, S.B.
Let's personalize your content