State and Local Tax

IRS Announces Standard Mileage Rate Increase Beginning July 1, 2022

Due to the recent surge in gasoline prices, the Internal Revenue Service (IRS) has revised the optional standard mileage rate, increasing it by 4 cents for the remainder of 2022. Click above to learn more.

Qualified Plug-In Electric Motor Vehicle Credit

Investing in an electric vehicle can be an effective way to reduce the environmental impact of gasoline emissions and cope with rising gas prices. IRC ยง30D provides a credit for qualified plug-in electric motor vehicles. Click above to learn more.

Update on North Carolina Pass-Through Entity Tax and 2022 Estimated Tax Payments

For tax years beginning after 2021, partnerships and S Corporations can make a Pass-Through Entity Tax (Taxed PTE) Election to pay North Carolina income tax at the entity level creating a deduction against pass-through federal income. Click above to find out more.

The Current Operations Appropriations Act of 2021

On November 18, 2021, North Carolina State Governor, Roy Cooper, signed the Current Operations Appropriations Act of 2021 (the Act). Click to learn more.

Business Personal Property Tax Listings

Any individual or business owning or possessing personal property used or connected with a business (or other income producing purpose) must file a business personal property tax listing. Click here to learn how to file your business personal property tax listing.

By |2022-10-31T23:41:15-04:00December 30th, 2019|Articles, State and Local Tax|0 Comments

N.C. Department of Revenue Publishes Overview of Recent Sales and Use Tax Changes

The N.C. Department of Revenue recently published Form E-505 which summarizes recent sales and use tax law changes enacted by the 2019 Session of the General Assembly.

By |2022-10-31T23:46:57-04:00October 30th, 2019|Articles, State and Local Tax|0 Comments

NCDOR Publishes Notice Related to Filing of Forms NC-3 & 1099-MISC

Recently, the Secretary of Revenue announced an automatic waiver of penalties associated with the failure to file Form NC-3 and the required W-2 and 1099 statements electronically for tax year 2019.

By |2022-10-31T23:48:39-04:00September 27th, 2019|Articles, State and Local Tax|0 Comments

North Carolina Makes Numerous Technical, Clarifying, and Administrative Sales and Use Tax Changes

On July 26, 2019, North Carolina Governor Roy Cooper signed legislation making various technical, clarifying, and administrative changes to sales and use tax laws. Click here for a summary of these recent changes.

By |2022-10-31T23:49:50-04:00September 4th, 2019|Articles, State and Local Tax|0 Comments
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