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North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05B .1110

Reciprocal Indebtedness Between Affiliates

Official textreports.oah.state.nc.us

A corporation that owes indebtedness to a parent, subsidiary, or affiliated corporation and at the same time is owed indebtedness by the same parent, subsidiary, or affiliated corporation shall net the payable and receivable for purposes of the indebtedness computation in arriving at the net worth base under G.S. 105-122. If the indebtedness is owed to one corporation and the receivable is due from another corporation, each amount shall be treated separately.

Last amended: Authority G.S. 105-122; 105-262; Eff. February 1, 1976; Amended Eff. January 1, 1994; Readopted Eff. May 1, 2018.

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In this chapter (40 sections)
  1. 17-05b-0802 · Due Date Of The Tax
  2. 17-05b-0803 · Corporation Billed For The Tax
  3. 17-05b-0901 · Basis For Taxation
  4. 17-05b-0902 · Due Date Of The Tax
  5. 17-05b-0903 · Corporation Billed For The Tax
  6. 17-05b-1001 · Basis For The Tax
  7. 17-05b-1002 · Franchise Tax Bases
  8. 17-05b-1003 · Corporations Required To File
  9. 17-05b-1004 · Forms To Be Used For Filing
  10. 17-05b-1005 · Report And Payment Due
  11. 17-05b-1006 · Tax Rate
  12. 17-05b-1101 · Based On The Year Ending Balance Sheet
  13. 17-05b-1102 · Surplus Defined
  14. 17-05b-1103 · Items Includable And Excludable
  15. 17-05b-1104 · Exclusion Of Retained Earnings By Parent Corporation
  16. 17-05b-1105 · Investment In Subsidiary
  17. 17-05b-1106 · Borrowed Capital Treatment: Debtor Corporation
  18. 17-05b-1107 · Borrowed Capital Treatment: Creditor Corporation
  19. 17-05b-1108 · Exclusion Provision Limited To Indebtedness Owed
  20. 17-05b-1109 · Equity Capital Not Deductible
  21. 17-05b-1110 · Reciprocal Indebtedness Between Affiliates
  22. 17-05b-1111 · Indebtedness Defined
  23. 17-05b-1112 · Borrowed Capital Defined
  24. 17-05b-1113 · Deduction For Qualified Recycling Facilities
  25. 17-05b-1114 · Holding Companies
  26. 17-05b-1115 · Cash Basis Corporations
  27. 17-05b-1201 · Apportionment Formula
  28. 17-05b-1202 · Alternative Apportionment Formula
  29. 17-05b-1301 · Basis For The Investment Base
  30. 17-05b-1302 · What Is Includable In The Investment Base
  31. 17-05b-1303 · Treatment Of Construction In Progress
  32. 17-05b-1304 · Carrier Operations Property Exempt From Investment Base
  33. 17-05b-1305 · Indebtedness Deduction
  34. 17-05b-1306 · Refinancing Of A Loan
  35. 17-05b-1307 · Pollution Abatement Facilities
  36. 17-05b-1308 · Deduction For Qualified Recycling Facilities
  37. 17-05b-1309 · Determination Of Inclusion By Depreciation
  38. 17-05b-1310 · No Limitation On Holding Companies
  39. 17-05b-1401 · Basis For Tangible Property
  40. 17-05b-1402 · Carrier Operations Appraised Property Exempt
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