North Carolina § 105-127 - When franchise or privilege taxes payable.
Full text of North Carolina North Carolina General Statutes § 105-127 — When franchise or privilege taxes payable., with citation guidance and answers to common questions.
§ 105-127. When franchise or privilege taxes payable.
Every corporation, domestic or foreign, that is required to file a return with the Secretary shall, unless otherwise provided, pay annually the franchise tax as required by G.S. 105-122. Repealed by Session Laws 1998-98, s. 78, effective August 14, 1998. It shall be the duty of the treasurer or other officer having charge of any such corporation, domestic or foreign, upon which a tax is herein imposed, to transmit the amount of the tax due to the Secretary of Revenue within the time provided by law for payment of same. , (e) Repealed by Session Laws 2002-72, s. 11, effective August 12, 2002. After the end of the income year in which a domestic corporation is dissolved pursuant to Part 1 of Article 14 of Chapter 55 of the General Statutes, the corporation is no longer subject to the tax levied in this Article unless the Secretary of Revenue finds that the corporation has engaged in business activities in this State not appropriate to winding up and liquidating its business and affairs. History (1939, c. 158, s. 215; 1973, c. 476, s. 193; 1991, c. 30, s. 7; 1993, c. 485, s. 6; 1998-98, s. 78; 2002-72, s. 11; 2011-330, s. 9; 2013-414, s. 1(d).) Effect of Amendments. - Session Laws 2011-330, s. 9, effective June 27, 2011, inserted "Part 1 of" in subsection (f). Session Laws 2013-414, s. 1(d), effective August 23, 2013, rewrote subsection (a), which formerly read "Every corporation, domestic or foreign, from which a report is required by law to be made to the Secretary of Revenue, shall, unless otherwise provided, pay to said Secretary annually the franchise tax as required by G.S. 105-122 ."
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 105-127
What does North Carolina General Statutes § 105-127 cover?
Section 105-127 ("When franchise or privilege taxes payable.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 105-127?
A common citation format is "North Carolina General Statutes § 105-127" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 105-127 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.