North Carolina Statutes
§ 105-131.1 — Taxation of an S Corporation and its shareholders. [Effective for taxable years beginning before January 1, 2022]
North Carolina § 105-131.1
This text of North Carolina § 105-131.1 (Taxation of an S Corporation and its shareholders. [Effective for taxable years beginning before January 1, 2022]) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.C. Gen. Stat. § 105-131.1 (2026).
Text
(a)An S Corporation shall not be subject to the tax levied under G.S. 105-130.3.
(b)Each shareholder's pro rata share of an S Corporation's income attributable to the State and each resident shareholder's pro rata share of income not attributable to the State, shall be taken into account by the shareholder in the manner and subject to the adjustments provided in Parts 2 and 3 of this Article and section 1366 of the Code and shall be subject to the tax levied under Parts 2 and 3 of this Article. (1987 (Reg. Sess., 1988), c. 1089, s. 1; 1989, c. 728, ss. 1.33, 1.35; 1998-98, ss. 5, 68.)
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Nearby Sections
15
§ 105-1.1
Supremacy of State Constitution§ 105-103
Unlawful to operate without license§ 105-106
Effect of change in name of firm§ 105-109
Obtaining license and paying tax§ 105-109.1
Repealed by Session Laws 1999-337, s. 16§ 105-113.10
Manufacturers exempt from paying tax§ 105-113.105
Purpose§ 105-113.107
Excise tax on unauthorized substances§ 105-113.108
Reports; revenue stamps§ 105-113.109
When tax payableCite This Page — Counsel Stack
Bluebook (online)
North Carolina § 105-131.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/nc/105/105-131.1.