North Carolina DOR Issues Important Notice on Income Tax Impact of Federal Law

The North Carolina Department of Revenue (DOR) issued an important notice concerning the impact of federal law on state individual and corporate income tax returns. The notice states that reference to the Internal Revenue Code (I.R.C.), as enacted as of Jan. 1, 2023, is the starting point for determining North Carolina income tax for individuals and corporations. The notice provides guidance to taxpayers on how differences in the I.R.C. in effect for tax year 2025, and the North Carolina Revenue Laws, may impact the filing of 2025 North Carolina income tax returns. [N.C. Dep’t of Revenue, Important Notice: Impact of ...