§ 105-130.43. Credit for savings and loan supervisory fees. - North Carolina Statutes

§ 105‑130.43.  Creditfor savings and loan supervisory fees.

Every savings and loanassociation is allowed a credit against the tax imposed by this Part for ataxable year equal to the amount of supervisory fees, paid by the associationduring the taxable year, that were assessed by the Commissioner of Banks of theDepartment of Commerce for the State fiscal year beginning during that taxableyear. This credit may not exceed the amount of tax imposed by this Part for thetaxable year, reduced by the sum of all credits allowed against the tax, excepttax payments made by or on behalf of the taxpayer. A taxpayer that claims thecredit allowed under this section may not deduct the supervisory fees indetermining taxable income. (1985, c. 750, s. 1; 1989, c. 76, s. 24; c. 751, s.7(8); 1991 (Reg. Sess., 1992), c. 959, s. 22; 1998‑98, s. 1(d), (e); 2001‑193,s. 16.)