Close
Close

North Carolina mandates informational reporting of market-based sourcing apportionment calculation

North Carolina Gov. Pat McCrory approved legislation on Sept. 18, 2015, enacting significant changes to the taxation of corporations. One such change is a requirement that certain corporate taxpayers file an additional informational report to provide the state with information to study the possible impact of market-based sourcing of sales of items other than tangible personal property on corporate income tax collections. North Carolina amended the original legislation on Oct. 1, 2015, in part to provide clarifying guidance on market-based sourcing informational reporting.

Download the PDF.