North Carolina has a Franchise Tax due for Corporations and LLCs taxed as Corporations doing business in the state. It’s typically filed by an accountant, as Franchise Taxes are filed as part of the North Carolina Corporate income tax filing. The Annual Report filing for North Carolina is separate, even though it may be due on the same day for some filers.
North Carolina has detailed information about Franchise Taxes on their website. Tax forms can be found here.
North Carolina Franchise Taxes are due on the 15th day of the fourth month following the close of the income year.
The franchise tax rate is $1.50 per $1,000.00 of the corporation’s net worth in North Carolina. The minimum franchise tax is $200.00 with no maximum except for a qualified holding company.
North Carolina’s Form CD-405 C-Corp Tax Return (2023 Form here as an example) has a Schedule C for calculating Net Worth, and Schedule O for calculating the Apportionment Factor.
Discern customers can digitally file their secretary of state annual reports and Delaware franchise tax directly from the product, in minutes. Discern also notifies its customers when other franchise taxes are due, and provides guidance, links to the filings themselves, and a place to track the filings.
Learn more about what Discern can do here.
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