North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05C .0407 — Repurchase Agreements

Income attributable to or received from repurchase agreements of U.S. government securities, an agreement to repurchase securities at an agreed price and date, is not considered income derived directly from federal obligations and is taxable income. SECTION .0500 - ALLOCATION AND APPORTIONMENT PROCEDURES

Last amended: Authority G.S. 105-130.5; 105-262; Eff. November 2, 1992; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

Source: official text