North Carolina § 105-241 - 10. Limit on refunds and assessments after a federal determination.

§ 105-241. 10. Limit on refunds and assessments after a federal determination.

The limitations in this section apply when a taxpayer files a timely return reflecting a federal determination that affects the amount of State tax payable and the general statute of limitations for requesting a refund or proposing an assessment of the State tax has expired. A return reflecting a federal determination is timely if it is filed within the time required by G.S. 105-130.20 , 105-159, 105-160.8, or 105-163.6A, as appropriate. A federal determination has the same meaning as defined in G.S. 105-228.90 . The limitations are: Refund. - A taxpayer is allowed a refund only if the refund is the result of adjustments related to the federal determination. Assessment. - A taxpayer is liable for additional tax only if the additional tax is the result of adjustments related to the federal determination. A proposed assessment may not include an amount that is outside the scope of this liability. History (2007-491, s. 1; 2008-107, s. 28.18(d); 2013-316, s. 7(b); 2018-5, s. 38.3(f).) Editor's Note. - Session Laws 2018-5, s. 38.3(h), made the amendment of this section by Session Laws 2018-5, s. 38.3(f), effective June 12, 2018, and applicable to federal amended returns filed on or after that date. Session Laws 2018-5, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2018.'" Session Laws 2018-5, s. 39.7, is a severability clause. Effect of Amendments. - Session Laws 2008-107, s. 28.18(d), effective January 1, 2009, and applicable to gifts made on or after that date, deleted "or 105-197.1" near the end of the introductory paragraph and made a related stylistic change. Session Laws 2013-316, s. 7(b), effective January 1, 2013, deleted "G.S. 105-32.8" preceding "G.S. 105-130.20" in the introductory language. For applicability, see editor's note. Session Laws 2018-5, s. 38.3(f), in the introductory paragraph, deleted the former second sentence, which read: "A federal determination is a correction or final determination by the federal government of the amount of a federal tax due.", and added the present third sentence. For effective date and applicability, see editor's note.