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North Carolina joins IRS Direct File

Accounting Today

The Treasury Department and the Internal Revenue Service announced that North Carolina will be the latest state to join the IRS Direct File free tax program in filing season 2025.

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North Carolina Extends PTET Election Due Date and Clarifies Franchise Tax Base Cap Computation

Cherry Bekaert

Contributors: Tony Konkol, Manager, State & Local Tax North Carolina Senate Bill No. 259 (Session Law 2023-134) was enacted on October 3, 2023, expanding eligibility for North Carolina’s PTET election. House Bill No. However, the maximum for the first $1,000,000 of a corporation’s tax base is $500.

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How To Take Advantage of Pass-Through Entity Tax in North Carolina

Cherry Bekaert

Stay Connected Following other jurisdictions that created a workaround from new requirements in the Tax Cuts and Jobs Act of 2017, North Carolina first enacted their pass-through entity tax (PTET) election through North Carolina Bill 105. These elections became available to businesses on January 1, 2022.

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What To Know About North Carolina Power Substations Taken Out by Gunfire

Withum

This past Saturday two electrical substations in Moore County, North Carolina were severely damaged by gunfire leaving residents without power. The post What To Know About North Carolina Power Substations Taken Out by Gunfire appeared first on Withum. Withum Cyber Flash Report | US Critical Infrastructure.

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States hit ‘Delete’ on some sales tax measures | TaxConnex

TaxConnex

North Carolina has become the latest state to ax transaction thresholds for economic nexus. Less than half the states currently have the transaction-based threshold,” reads the summary of North Carolina’s House Bill 228 (the bill progressed relatively quickly through the lawmaking process).

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Avalara Promises 100 More Jobs at North Carolina Office

CPA Practice

By Brian Gordon, Raleigh News & Observer (TNS) With offices overlooking right field of Durham Bulls Athletic Park, the tax compliance software provider Avalara intends to add 100 workers to its downtown location in Durham, NC, by the end of the year.

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How the Accounting Community is Rallying Around Victims of Hurricane Helene

CPA Practice

3 that was attended by members from the Georgia Society of CPAs, North Carolina Association of CPAs, South Carolina Association of CPAs, Tennessee Society of CPAs, and the Virginia Society of CPAs on disaster recovery. Last weekend, the IRS team moved to North Carolina to assist with door-to-door search efforts.