§ 105-163.38. Definitions. - North Carolina Statutes

Article4C.

Filing of Declarations ofEstimated Income Tax and Installment Payments of Estimated Income Tax byCorporations.

§ 105‑163.38. Definitions.

The following definitionsapply in this Article, unless the context requires otherwise:

(1)        Code. – Defined inG.S. 105‑228.90.

(1a)      Corporation. –Defined in section 7701 of the Code.

(2)        Estimated tax. – Theamount of income tax the corporation estimates as the amount imposed by Article4 for the taxable year.

(3)        Fiscal year. – Anaccounting period of 12 months ending on the last day of any month other thanDecember.

(4)        Secretary. – TheSecretary of Revenue.

(5)        Taxable year. – Thecalendar year or fiscal year used as a basis to determine net income underArticle 4. If no fiscal year has been established, "fiscal year"means the calendar year. In the case of a return made for a fractional part ofthe year under Article 4, or under rules prescribed by the Secretary,"taxable year" means the period for which the return is made. (1959,c. 1259, s. 1A; 1973, c. 476, s. 193; 1983, c. 713, s. 86; 1989 (Reg. Sess.,1990), c. 984, s. 15; 1991 (Reg. Sess., 1992), c. 922, s. 8; 1993, c. 12, s.10.)