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North Carolina Extends PTET Election Due Date and Clarifies Franchise Tax Base Cap Computation

Cherry Bekaert

Contributors: Tony Konkol, Manager, State & Local Tax North Carolina Senate Bill No. 259 (Session Law 2023-134) was enacted on October 3, 2023, expanding eligibility for North Carolina’s PTET election. House Bill No. However, the maximum for the first $1,000,000 of a corporation’s tax base is $500.

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How To Take Advantage of Pass-Through Entity Tax in North Carolina

Cherry Bekaert

Stay Connected Following other jurisdictions that created a workaround from new requirements in the Tax Cuts and Jobs Act of 2017, North Carolina first enacted their pass-through entity tax (PTET) election through North Carolina Bill 105. These elections became available to businesses on January 1, 2022.

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What To Know About North Carolina Power Substations Taken Out by Gunfire

Withum

This past Saturday two electrical substations in Moore County, North Carolina were severely damaged by gunfire leaving residents without power. The post What To Know About North Carolina Power Substations Taken Out by Gunfire appeared first on Withum. Withum Cyber Flash Report | US Critical Infrastructure.

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Avalara Promises 100 More Jobs at North Carolina Office

CPA Practice

By Brian Gordon, Raleigh News & Observer (TNS) With offices overlooking right field of Durham Bulls Athletic Park, the tax compliance software provider Avalara intends to add 100 workers to its downtown location in Durham, NC, by the end of the year.

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What is an IRS CP14 notice? Options for balance due for unpaid taxes

MyIRSRelief

Louis, Missouri Omaha, Nebraska Minneapolis, Minnesota Tampa, Florida Anaheim, California Cincinnati, Ohio Honolulu, Hawaii Bakersfield, California Riverside, California Oklahoma City, Oklahoma Durham, North Carolina Wichita, Kansas St.

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Last-minute sales tax changes create difficulties for businesses

Accounting Today

Vermont, North Carolina, New Jersey and Ohio provide standout examples this summer. You need to be on your toes if you work in sales tax, as states are known to make substantial sales tax policy changes with little to no notice.

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What is an IRS CP14 notice? Help options for balance due for unpaid taxes

MyIRSRelief

Louis, Missouri Omaha, Nebraska Minneapolis, Minnesota Tampa, Florida Anaheim, California Cincinnati, Ohio Honolulu, Hawaii Bakersfield, California Riverside, California Oklahoma City, Oklahoma Durham, North Carolina Wichita, Kansas St.