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North Carolina Department Of Revenue, North Carolina Tax

North Carolina Business Corporate Tax, North Carolina Personal Income Tax, North Carolina Sales Tax Rates

What is the North Carolina corporate net income tax rate?

6.9% with a minimum tax payment of $35. There is a franchise tax on assets in North Carolina of $1.50 for every $1000.

What are the North Carolina personal net income tax rates?

0-12,750 6%
12,750-60,000 7%
60,000+ 7.75%

What is the average North Carolina sales tax rate?

8.07%. The state has a 5.75% tax, but the average local tax is 2.32% making a total of 8.07%.

Are there standard deductions?

Single:  $3,000
Joint:  $6,000

Are there personal exemptions?

Single:  none
Dependents:  none

What forms do you file for your North Carolina taxes?

North Carolina C corporations:   Form CD-405
S corporations:   Form CD-401S
Partnerships:   Form NC-40
Individual (North Carolina LLC members):   Form D-400
North Carolina Nonprofit Corporations: Form E-585

Estimated tax payments?

Form NC-40 for personal filers. North Carolina follows the IRS standards for estimated payments. If you will owe $1000 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.

North Carolina Department of Revenue:

North Carolina Department of Revenue
P.O. Box 58787
Raleigh , NC 27658
T: 877-252-3052
Website:  North Carolina Department of Revenue

If you use Northwest Registered Agent as your North Carolina registered agent, you’ll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new North Carolina businesses for only $100.

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