Business taxpayers and their tax professionals in North Carolina will have a reduced administrative burden beginning in 2025 thanks to a regulatory change championed by NCACPA, the NC Chamber, and the Council on State Taxation (COST).
On October 30, the NC Rules Review Commission approved an amendment to 17 NCAC 05C .2004 that will extend the due date for filing a state corporate income tax return to one month later than the federal extended due date. The new rule becomes effective for tax year 2025.
The coalition argued that the extended deadline to file an NC return is especially beneficial for corporations that have multi-jurisdictional filing obligations. The extra month allows for a thorough review and adjustment of federal returns before preparing the state return, reducing the likelihood of errors and potential penalties.
Under previous regulations, NC was among 19 states that limit the extension of time to file corporate income tax returns to six months from the original due date of the return (i.e., the same due date as the federal return).
The NC Department of Revenue proposed the rule change after NCACPA, the NC Chamber, and COST convinced state legislative leaders that the change was warranted.
If you have questions about this issue or other policy matters, please contact NCACPA Director of Advocacy Robert Broome, CAE.