Individual Income Tax

Form D-400 Individual Income Tax Return

Form D-400TC Individual Income Tax Return

Corporate Income Tax

Form CD-405 C Corporation Tax Return 

Form CD-401S S Corporation Tax Return

North Carolina Income Tax Forms: An Overview

Introduction

North Carolina has an income tax system that imposes a tax on the income of residents, non-residents, and part-year residents who earn income from North Carolina sources. Taxpayers are required to file North Carolina income tax forms by April 15th of each year.

In this article, we will discuss the different types of North Carolina income tax forms, the filing requirements, and updates on the topic using government resources.

Types of North Carolina Income Tax Forms

North Carolina has several income tax forms that taxpayers can use to file their taxes. Some of the most common forms include:

1. Form D-400 – Individual Income Tax Return

This form is used by residents of North Carolina to report their income, deductions, and credits for the tax year. Taxpayers are required to file this form by April 15th of each year.

2. Form D-400TC – Individual Tax Credit

This form is used to claim tax credits that are available to residents of North Carolina. Some of the tax credits that can be claimed include the child and dependent care credit, the earned income tax credit, and the credit for taxes paid to other states.

3. Form D-400 Schedule S – North Carolina Supplemental Schedule

This form is used to report income from sources that are not reported on the D-400 form. Some of the sources that can be reported on the Schedule S form include self-employment income, rental income, and capital gains.

4. Form D-400 Schedule PN – Part-Year Resident and Nonresident Schedule

This form is used by part-year residents and nonresidents to report their North Carolina income. Taxpayers are required to file this form if they were not a resident of North Carolina for the entire tax year.

Filing Requirements

North Carolina has a set of rules that determine who is required to file an income tax return. The filing requirements depend on a taxpayer’s filing status, income level, and other factors.

1. Residents

Residents of North Carolina are required to file a state income tax return if they meet any of the following criteria:

– Single taxpayers who are under 65 years of age and have a gross income of at least $10,000.
– Married taxpayers filing jointly who are under 65 years of age and have a gross income of at least $20,000.
– Married taxpayers filing separately who are under 65 years of age and have a gross income of at least $10,000.
– Heads of household who are under 65 years of age and have a gross income of at least $13,000.

2. Nonresidents and Part-Year Residents

Nonresidents and part-year residents of North Carolina are required to file a state income tax return if they meet any of the following criteria:

– They had North Carolina source income that exceeded the prorated personal exemption amount for nonresidents or part-year residents.
– They had North Carolina source income and were required to file a federal income tax return.
– They had North Carolina source income and had North Carolina income tax withheld from their paycheck.

Updates on North Carolina Income Tax Forms

The North Carolina Department of Revenue is responsible for administering the state’s income tax system. The department provides a variety of resources that taxpayers can use to stay up to date on income tax forms and filing requirements.

1. Electronic Filing

The North Carolina Department of Revenue offers electronic filing options for taxpayers who prefer to file their taxes online. Taxpayers can use approved tax preparation software or file using the department’s online filing system.

2. Tax Refunds

Taxpayers who file their North Carolina income tax return electronically can receive their refunds faster than those who file on paper. The department encourages taxpayers to file electronically to receive their refunds quickly and securely.

3. Taxpayer Assistance

The North Carolina Department of Revenue provides a variety of resources to assist taxpayers with their income tax questions and concerns. Taxpayers can contact the department by phone, email, or in person at one of their taxpayer service centers.

Conclusion

Filing North Carolina income tax forms can be a complex process, but it is necessary for residents, nonresidents, and part-year residents who earn income from North Carolina sources. Keeping up to date on the latest filing requirements and using electronic filing options can make the process smoother and faster. The North Carolina Department of Revenue offers a variety of resources to assist taxpayers in navigating the state’s income tax system.