17 N.C. Admin. Code 5B.1108

Current through Register Vol. 39, No. 9, November 1, 2024

Section 05B .1108 - EXCLUSION PROVISION LIMITED TO INDEBTEDNESS OWED

The exclusion from the net worth base of indebtedness owed that is permitted the debtor corporation and the deduction permitted the creditor corporation in G.S. 105-122 are applicable only to indebtedness owed to or due from a parent, subsidiary, or affiliated corporation. These provisions do not apply where the indebtedness is only endorsed or guaranteed.

17 N.C. Admin. Code 05B .1108

Authority G.S. 105-122; 105-262;
Eff. February 1, 1976;
Amended Eff. January 1, 1994;
Readopted Eff. May 1, 2018.

Authority G.S. 105-122; 105-262;
Eff. February 1, 1976;
Amended Eff. January 1, 1994.

Readopted by North Carolina Register Volume 32, Issue 23, June 1, 2018 effective 5/1/2018.