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Distributing Division: Personal Taxes Division
Date: May 16, 2024
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Session Law 2024-1 (Senate Bill 508) became law on May 15, 2024. As a result, an eligible partnership can make the election to pay NC income tax at the entity level (a “Taxed Partnership”) for tax year 2022 by filing an amended 2022 NC Partnership Tax Return (“Form D-403”) on or before July 1, 2024. Importantly, an eligible partnership that filed an amended return after October 15, 2023, and before the enactment of Session Law 2024-1, to make the Taxed Partnership election AND the election was not accepted can file an additional amended return to make the election so long as the amended return is filed on or before July 1, 2024.
For additional information, including information on what type of partnership is eligible to make the Taxed Partnership election, see TA-23-1 revised May 16, 2024.
If you have any questions about this notice, you may call the N.C. Department of Revenue Customer Service line at 1-877-252-3052 (7:00 am until 4:30 pm EDT, Monday through Friday).
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This document issued by the State of North Carolina Department of Revenue. Our mission is to fund public services benefiting the people of North Carolina, we administer the tax laws and collect the taxes due in an impartial, consistent, secure, and efficient manner.
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