North Carolina Administrative Code Title 17 — Revenue
17 NCAC 05C .1403
Taxable Bonds
Official textreports.oah.state.nc.us
A portion of the premium paid upon the purchase of a taxable bond may be deducted in the taxable year only if an adjustment is made to the basis of the bond. If a taxpayer elects to amortize the premium, the basis for determining gain or loss will always be original cost less the amount of premium amortized and deducted in its tax returns through the year of disposal. Otherwise, the basis of a taxable bond for determining gain or loss will always be the entire amount paid for the bond.
Source: view the official text
In this chapter (40 sections)
- 17-05c-1003 · Sales Made In Other Type Of Business Activity
- 17-05c-1004 · Numerator
- 17-05c-1005 · What Sales Of Tangible Personal Property Are In This State
- 17-05c-1006 · Sales Factor: Sales To United States Government
- 17-05c-1007 · Numerator: Other Receipts Constituting Business Income
- 17-05c-1101 · Railroad Companies
- 17-05c-1102 · Telephone Companies
- 17-05c-1103 · Motor Carriers Of Property And/Or Passengers
- 17-05c-1104 · Telegraph Companies
- 17-05c-1105 · Excluded Corporations
- 17-05c-1201 · Preliminary Statement
- 17-05c-1202 · Charitable Contributions Defined And Qualified Donees
- 17-05c-1203 · Contributions Limited To Five Percent Of Net Income
- 17-05c-1204 · Contributions Fully Deductible
- 17-05c-1205 · Contributions By Corporations Allocating Net Income
- 17-05c-1206 · Contributions Carry-Over Unallowable
- 17-05c-1301 · Amortization Over 60 Month Period
- 17-05c-1302 · Certification Of Facilities Required
- 17-05c-1401 · Preliminary Statement
- 17-05c-1402 · Tax-Exempt Bonds
- 17-05c-1403 · Taxable Bonds
- 17-05c-1404 · Definition Of Bond
- 17-05c-1501 · Preliminary Statement
- 17-05c-1502 · Differences Between North Carolina And Federal Provisions
- 17-05c-1503 · Definition Of Net Economic Loss
- 17-05c-1504 · Income Not Taxable
- 17-05c-1505 · Procedure For Deducting A Net Economic Loss
- 17-05c-1506 · Corporations Apportioning Their Net Income
- 17-05c-1507 · Corporation Sustaining Loss Entitled To Deduction
- 17-05c-1601 · Preliminary Statement
- 17-05c-1602 · Deductions For Payments To And Charges By
- 17-05c-1603 · Consolidated Returns
- 17-05c-1604 · Required To Furnish Information Requested By Secretary
- 17-05c-1605 · Definitions
- 17-05c-1606 · Transactions Closely Examined By The Department
- 17-05c-1701 · Reporting Partnership Net Income
- 17-05c-1702 · Apportionable Income Or Nonapportionable Income
- 17-05c-1801 · Taxable Percentages/Dividends
- 17-05c-1802 · No Return Filed In Year Ended September 30
- 17-05c-1803 · Two Returns Filed By A Corporation During Twelve Month…