Tag Archive: "North Carolina"
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North Carolina Revises Passthrough Entity Tax
Earlier this month, North Carolina Governor Roy Cooper signed Session Law 2023-12 (Senate Bill 174), which revised several key aspects of the state’s elective passthrough entity tax (“PET”). Here are some key takeaways: Tiered partnerships are now allowed to make the PET election. Prior to Senate Bill 174, only partnerships owned by individuals, estates, trusts, […]
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IRS Relief for Those Affected by Hurricane Ian
Taxpayers affected by Hurricane Ian now have until February 15, 2023, to file various individual and business tax returns and make certain tax payments. An affected taxpayer includes any individual whose principal residence is located in a covered disaster area and any business entity or sole proprietorship whose principal place of business is located in […]