ncacpa-govt-advocacyNo one does more to advance and safeguard your profession in North Carolina.

NCACPA strives to represent the profession’s interests in vital areas of public policy formation, standard-setting, and rule-making that would have impact on members, the profession as a whole, and the North Carolina business climate. Also, the association identifies and supports the campaigns of those legislators and candidates who understand the profession through our NC CPA Political Action Committee (PAC).

NC Department of Revenue Publishes Important Notices Today

The Department of Revenue is in the process of posting two important notices on the its website today. One notice will address the State’s response to the federal provisions enacted under the Federal Tax Cuts and Jobs Act (“TCJA”) and the Bipartisan Budget Act of 2018 (“BBA”).  The other notice provides guidance to taxpayers on how […]

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IRS Issues Sec. 199A Regulations

The IRS released three components of Section 199A guidance – below are links to each: The proposed regs (Proposed regulations concerning the deduction for qualified business income under section 199A) A notice about W-2 wages (Notice 2018-64: Methods for Calculating W-2 Wages for Purposes of Section 199A) FAQs (Section 199A – Deduction for Qualified Business […]

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NCACPA Annual Meeting With IRS & Department of Revenue

The NCACPA Taxation Committee will hold its annual meeting in the fall with key IRS and NC Department of Revenue personnel, at which time there will be an opportunity to pose questions and submit comments. Each year, NCACPA asks the membership to help provide questions for these meetings. Please add questions or comments you wish […]

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Resource—NC Sales Tax Compliance in Wake of Wayfair Ruling

By Bill Nelson On August 7, 2018, the North Carolina Department of Revenue issued a Directive (SD-18-6) requiring remote sellers to begin collecting North Carolina sales tax on sales of goods and services to North Carolina customers. The Directive is a response to the United States Supreme Court’s ruling in South Dakota v. Wayfair, Inc., which eliminated […]

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NC Department of Revenue Issues Economic Nexus Directive

The Association participated in a meeting this morning at the North Carolina Department of Revenue to discuss a new directive the Department issued earlier this afternoon regarding economic nexus. Effective November 1, 2018, businesses making annual sales in excess of $100,000 or 200 transactions will be required to collect sales tax regardless of whether they […]

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State Budget Passes, Includes State Tax Return Extension Provision

As of today, June 12, 2018, both chambers of the North Carolina General Assembly have voted to override Governor Cooper’s veto of the new state budget, allowing it to become law. Included in the budget was a state extension proposal NCACPA worked diligently on over the past several months. The provision requires any taxpayer granted […]

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General Assembly Begins Budget and Tax Hearings

Today the NC General Assembly is considering the Senate Bill 99 Appropriations Act of 2018 Conference Report that was posted on the website of the General Assembly last evening. This report cannot be amended, except by a subsequent act of the General Assembly. We are pleased to report to our members that included in the […]

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NC Department of Revenue Statement on Electronic Payment Issue

The North Carolina Department of Revenue discovered earlier this week that some taxpayers’ electronic payments were drafted twice. The NCDOR knows which taxpayers have been impacted and has begun to contact the affected taxpayers directly. The NCDOR is already in the process of returning the funds electronically to these taxpayers. The affected individuals are not […]

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Sales and Use Tax Directive 18-1 Published

The Department of Revenue released this directive, which is an updated chart with a list of services to real property that are generally subject to sales and use tax as either repair, maintenance, and installation services for real property or as real property contracts. This chart has been expanded substantially as a result of legislative […]

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State Treasurer Announces Academy for Accountants

4/17/2018 Contact: Frank Lester (919) 814-3811 FOR IMMEDIATE RELEASE   State Treasurer Folwell Announces Treasurer’s Academy for Accountants N.C. Department of State Treasurer will offer intensive work experience (Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, has announced plans to launch a highly selective program that will prepare accountants for careers in public sector […]

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