North Carolina Administrative Code Title 17 — Revenue

17 NCAC 05F .0502

Procedures For Filing A Combined Income Tax Return

# (a)

The principal member shall file Form CD-405, The North Carolina C Corporation Tax Return, and all required schedules. The combined tax return replaces the separate entity corporate income tax returns filed by the members of the group that are doing business in this State.

# (b)

The principal member shall include the following schedules:

# (1)

A computation of the North Carolina taxable income of each corporation in the combined return that would have been reported if the member had filed a North Carolina income tax return on a separate company basis;

# (2)

A schedule detailing all intercompany eliminations made by and between the members of the unitary group;

# (3)

A schedule of all North Carolina income tax estimated payments made by each member of the group;

# (4)

A schedule reflecting the computation of the combined apportionment factor as required in 17 NCAC 05F .0501(6). Taxpayers shall not use Schedule O of the CD-405;

# (5)

A schedule of eligible net economic losses and the use of same by member entities and the combined group; and (6) A schedule of eligible tax credits and the use of same by member entities and the combined group.

Last amended: Authority G.S. 105-130.5A; 105-262.1; Eff. January 31, 2013; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

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