North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05C .0401 — North Carolina Obligations

Net interest income received by a corporation on obligations of the State of North Carolina and any of its cities, towns or counties is exempt from income taxes imposed by this state.

Last amended: Authority G.S. 105-130.5; 105-262; Eff. February 1, 1976; Amended Eff. April 1, 1991; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

Source: official text