{"data":{"id":"us-nc/n.c.-gen.-stat.-105-131.8","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 105-131.8","heading":"Tax credits.","body":"(a)\tExcept as otherwise provided in G.S. 105-153.9(a)(4) with respect to a taxed S Corporation, for purposes of G.S. 105-153.9 and G.S. 105-160.4, each resident shareholder is considered to have paid a tax imposed on the shareholder in an amount equal to the shareholder's pro rata share of any net income tax paid by the S Corporation to a state that does not measure the income of S Corporation shareholders by the income of the S Corporation. For purposes of the preceding sentence, the term \"net income tax\" means any tax imposed on or measured by a corporation's net income.\n(b)\tExcept as otherwise provided in G.S. 105-160.3, each shareholder of an S Corporation is allowed as a credit against the tax imposed by Parts 2 and 3 of this Article an amount equal to the shareholder's pro rata share of the tax credits for which the S Corporation is eligible. (1987 (Reg. Sess., 1988), c. 1089, s. 1; 1989, c. 728, ss. 1.33, 1.35; 1991, c. 45, s. 7; 1998-98, s. 8; 2020-58, s. 4.1; 2021-180, s. 42.5(e).)","path":["","Article 4. Income Tax.","Part 1A. S Corporation Income Tax."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_105/GS_105-131.8.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:15:52Z","sha256":"12b9d4e4053bd02a45276f7a655ea364db195d2ff2b50d52930cc0064a53c4fe","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-105-131.7","next":"us-nc/n.c.-gen.-stat.-105-132"},"notice":"GroundRules: Original legal text. Not legal advice."}