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North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05C .0405

Obligations Of Federal National Mortgage Association

Official textreports.oah.state.nc.us

Interest income or other income realized on obligations of Federal National Mortgage Association is taxable income since the obligations are not those of the United States.

Last amended: Authority G.S. 105-130.5; 105-262; Eff. October 23, 1977; Amended Eff. January 1, 1994; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

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In this chapter (40 sections)
  1. 17-05b-1704 · Regulated Investment Companies
  2. 17-05c-0101 · Domestic And Foreign Corporations Required To File
  3. 17-05c-0102 · Doing Business Defined
  4. 17-05c-0103 · Corporations Operating In Interstate Commerce
  5. 17-05c-0104 · Tax Rate And Basis For The Tax
  6. 17-05c-0105 · Corporations Required To Allocate Income
  7. 17-05c-0106 · When In Doubt As To Liability
  8. 17-05c-0107 · Tax Forms Mailed To Taxpayer
  9. 17-05c-0108 · Due Date Of Return
  10. 17-05c-0201 · Preliminary Statement
  11. 17-05c-0202 · Amount Of Credit Allowable
  12. 17-05c-0203 · Building Code And Other Requirements
  13. 17-05c-0301 · Preliminary Statement
  14. 17-05c-0302 · Adjustments To Federal Taxable Income
  15. 17-05c-0303 · Miscellaneous
  16. 17-05c-0304 · Attribution Of Expenses To Nontaxable Income
  17. 17-05c-0401 · North Carolina Obligations
  18. 17-05c-0402 · Obligations Of Other States
  19. 17-05c-0403 · U.S. Obligations
  20. 17-05c-0404 · Sales Or Exchanges
  21. 17-05c-0405 · Obligations Of Federal National Mortgage Association
  22. 17-05c-0406 · Mortgage Backed Certificate Guaranteed By Gnma
  23. 17-05c-0407 · Repurchase Agreements
  24. 17-05c-0501 · Preliminary Statement
  25. 17-05c-0502 · Reporting Net Income Or Loss To North Carolina
  26. 17-05c-0601 · Preliminary Statement
  27. 17-05c-0602 · Definition Of Taxpayer
  28. 17-05c-0603 · In General
  29. 17-05c-0604 · When A Taxpayer Is Subject To Tax
  30. 17-05c-0605 · When A State Has Jurisdiction
  31. 17-05c-0701 · Division Of Income: In General
  32. 17-05c-0702 · Business And Nonbusiness Income Defined
  33. 17-05c-0703 · Business And Nonbusiness Income
  34. 17-05c-0704 · Proration Of Deductions
  35. 17-05c-0801 · In General
  36. 17-05c-0802 · Property Used For The Production Of Apportionable Income
  37. 17-05c-0803 · Consistency In Reporting
  38. 17-05c-0804 · Numerator
  39. 17-05c-0805 · Valuation Of Owned Property
  40. 17-05c-0806 · Rented Property
Full table of contents →