Geoff Christian; Russell Padgett
North Carolina recently passed House Bill 200 which allows an additional deduction for tax amortization of intangibles in computing its corporate franchise tax. Since the revision to Gen. Stat. §105-122(b)(2) is effective for taxable years beginning on or after January 1, 2007, North Carolina taxpayers should review their returns to determine if this change may provide any refund opportunities.
Please read announcement here.