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North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05C .0407

Repurchase Agreements

Official textreports.oah.state.nc.us

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.

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.

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In this chapter (40 sections)
  1. 17-05c-0102 · Doing Business Defined
  2. 17-05c-0103 · Corporations Operating In Interstate Commerce
  3. 17-05c-0104 · Tax Rate And Basis For The Tax
  4. 17-05c-0105 · Corporations Required To Allocate Income
  5. 17-05c-0106 · When In Doubt As To Liability
  6. 17-05c-0107 · Tax Forms Mailed To Taxpayer
  7. 17-05c-0108 · Due Date Of Return
  8. 17-05c-0201 · Preliminary Statement
  9. 17-05c-0202 · Amount Of Credit Allowable
  10. 17-05c-0203 · Building Code And Other Requirements
  11. 17-05c-0301 · Preliminary Statement
  12. 17-05c-0302 · Adjustments To Federal Taxable Income
  13. 17-05c-0303 · Miscellaneous
  14. 17-05c-0304 · Attribution Of Expenses To Nontaxable Income
  15. 17-05c-0401 · North Carolina Obligations
  16. 17-05c-0402 · Obligations Of Other States
  17. 17-05c-0403 · U.S. Obligations
  18. 17-05c-0404 · Sales Or Exchanges
  19. 17-05c-0405 · Obligations Of Federal National Mortgage Association
  20. 17-05c-0406 · Mortgage Backed Certificate Guaranteed By Gnma
  21. 17-05c-0407 · Repurchase Agreements
  22. 17-05c-0501 · Preliminary Statement
  23. 17-05c-0502 · Reporting Net Income Or Loss To North Carolina
  24. 17-05c-0601 · Preliminary Statement
  25. 17-05c-0602 · Definition Of Taxpayer
  26. 17-05c-0603 · In General
  27. 17-05c-0604 · When A Taxpayer Is Subject To Tax
  28. 17-05c-0605 · When A State Has Jurisdiction
  29. 17-05c-0701 · Division Of Income: In General
  30. 17-05c-0702 · Business And Nonbusiness Income Defined
  31. 17-05c-0703 · Business And Nonbusiness Income
  32. 17-05c-0704 · Proration Of Deductions
  33. 17-05c-0801 · In General
  34. 17-05c-0802 · Property Used For The Production Of Apportionable Income
  35. 17-05c-0803 · Consistency In Reporting
  36. 17-05c-0804 · Numerator
  37. 17-05c-0805 · Valuation Of Owned Property
  38. 17-05c-0806 · Rented Property
  39. 17-05c-0807 · Averaging Property Values
  40. 17-05c-0901 · In General
Full table of contents →