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Income Tax Division Page 1 of 2 June 3, 2016
June 3, 2016
North Carolina’s Reference to the Internal Revenue Code Updated - Impact
on 2015 North Carolina Corporate and Individual income Tax Returns
Governor McCrory signed into law Session Law 2016-6 (Senate Bill 726) on June 1, 2016. The
legislation updated North Carolina’s reference to the Internal Revenue Code to the Code as enacted as of
January 1, 2016. As a result, North Carolina corporate and individual income tax laws generally follow
the Protecting Americans From Tax Hikes Act of 2015 (“PATH”), which extended, and in some cases
made permanent, several provisions in federal law that had sunset at the end of 2014. The law decouples
from (does not follow) PATH in six instances. The table below identifies those instances and describes
each difference and which lines on the tax returns are impacted.
Federal Provision State Provision for 2015 NC C Corporate
Return
NC Individual
Return
1 Bonus depreciation is
extended to property
placed in service in 2015,
2016 and 2017.
Addition required for 85%
of bonus depreciation
deducted on federal return.
Include on Form
CD-405, Schedule
H, Line 1.g.
Include on Form
D-400 Schedule S,
Part A, Line 3.
2 Code section 179 dollar
and investment
limitations of $500,000
and $2,000,000,
respectively, extended to
2015. These amounts
will increase for inflation
beginning with tax year
2016.
NC dollar and investment
limitations of $25,000 and
$200,000, respectively,
extended to 2015 and made
permanent. Addition
required for 85% of the
difference between the
deduction using federal
limitations and the deduction
using NC limitations.
Include on Form
CD-405, Schedule
H, Line 1.g.
Include on Form
D-400 Schedule S,
Part A, Line 3.
3 The treatment of
mortgage insurance
premiums as qualified
residence interest is
extended for 2015 and
2016.
Mortgage insurance
premiums are not treated as
qualified residence interest.
Not applicable Exclude from
Form D-400
Schedule S, Part
C, Line 13.
Income Tax Division Page 2 of 2 June 3, 2016
4 The exclusion from gross
income for cancellation
of qualified principal
residence debt is
extended for 2015 and
2016.
Cancellation of qualified
principal residence debt is
not excluded from gross
income.
Not applicable Include on Form
D-400 Schedule S,
Part A, Line 3.
5 The exclusion from gross
income for qualified
charitable distributions
from an IRA by a person
who has attained age 70
½ is extended for 2015
and 2016.
Qualified charitable
distributions from an IRA by
a person who has attained
age 70 ½ are not excluded
from gross income. The
distributions are allowable
as a charitable contribution.
Not applicable Include addition
on Form D-400
Schedule S, Part
A, Line 3.
Deduct
contribution on
Form D-400
Schedule S, Part
C, Line 18 if
itemizing
6 The deduction for
qualified tuition and
related expenses is
extended for 2015 and
2016.
Qualified tuition and related
expenses are not deductible.
Not applicable Include addition
on Form D-400
Schedule S, Part
A, Line 3.
Any person who has already filed a 2015 North Carolina income tax return and whose federal taxable
income (C corporation) or federal adjusted gross income (individual) is impacted by the amendments to
federal law included in PATH or by the provisions of PATH from which North Carolina has decoupled
must file an amended North Carolina return. If the amended return reflects additional tax due, the
taxpayer will avoid a late-payment penalty if the additional tax reflected on the amended return is paid
when the amended return is filed. If the amended return reflects additional tax due, interest is due on the
additional tax from the date the tax was due (April 15, 2016 for calendar year taxpayers; the fifteenth day
of the fourth month after the end of the tax year for fiscal year taxpayers) until the additional tax is paid.
The interest rate is 5% per year through December 31, 2016. For the interest rate in effect after December
31, 2016, see www.dornc.com/taxes/rate.html on or after December 1, 2016.
IMPORTANT: Do not send a photocopy of this form.
The original form is printed in pink and black ink.
Your Social Security Number Spouse’s Social Security Number
For calendar year 2015, or scal year beginning and ending (MM-DD-YY)
(MM-DD-YY)
You must enter your
social security number(s).
Your Last NameYour First Name
(USE CAPITAL LETTERS FOR YOUR NAME AND ADDRESS)
M.I.
M.I.
Staple All Pages of Your Return Here.
Staple W-2s Here.
6.
6. Adjusted gross income from your federal return
(If negative, see instructions.)
Filing Status
SSN
Name
(Enter your spouse’s
full name and Social
Security Number.)
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Widow(er) with Dependent Child (Year spouse died:
)
1.
2.
3.
4.
5.
7.
7. Additions to federal adjusted gross income
(From Line 4 of Form D-400 Schedule S, Part A)
9.
9. Deductions from federal adjusted gross income
(From Line 12 of Form D-400 Schedule S, Part B)
8. Add Lines 6 and 7. 8.
10. Subtract Line 9 from Line 8. 10.
Deceased Taxpayer Information
Fill in circle if return is led and signed by Executor,
Administrator or Court-Appointed Personal Representative.
Taxpayer
(MM-DD-YY)
Enter date of death of deceased taxpayer or deceased spouse.
Was your spouse a resident for the entire year?
If No, complete Lines 1 through 12. Then go to
Part D of Schedule S. Fill in residency information
and complete Lines 21 through 23.
Yes No
Yes No
Residency Status
Were you a resident of N.C. for the entire year of 2015?
Fill in circle if you or your spouse were out of the country on April 15 and a U.S. citizen or resident.
12.
11.
Subtract Line 11 from Line 10.12.
13.
14.
15.
Part-year residents and nonresidents
(From Line 23 of Form D-400 Schedule S, Part D)
13.
North Carolina Taxable Income
Full-year residents enter the amount from Line 12.
Part-year residents and nonresidents multiply amount on Line 12 by the
decimal amount on Line 13.
14.
15. North Carolina Income Tax
To calculate your tax, multiply Line 14 by 5.75% (0.0575). If Line 14 is
negative, enter -0- on Line 15.
N.C. Education Endowment Fund: You may contribute to the N.C. Education Endowment Fund by making a contribution or designating some or all
of your overpayment to the Fund. To make a contribution, enclose Form NC-EDU and your payment of $ .
To designate your overpayment to the Fund, enter the amount of your designation on Page 2, Line 31. See instructions for information about the Fund.
Individual Income
Tax Return 2015
D-400
AMENDED RETURN
Fill in circle. (See instructions.)
11. N.C. standard deduction OR N.C. itemized deductions
Fill in one circle only. (If itemizing, complete Part C of Form D-400
Schedule S, and enter the amount from Line 20.)
Did you claim the standard deduction on your 2015 federal return?
Fill in one circle only. (See instructions.)
Yes No
Web-Fill
10-15
Enter Whole U.S. Dollars Only
Mailing Address
Spouse’s Last NameIf a Joint Return, Spouse’s First Name
Apartment Number
Zip Code
Country (If not U.S.)
City State County
(Enter rst ve letters)
Spouse
(MM-DD-YY)
4
PRINT
✖
CLEAR
Last Name (First 10 Characters)
Your Social Security Number
2015
Tax Year
Be sure to sign and date your return below.
I certify that, to the best of my knowledge, this return is accurate and complete.
Sign Here
If prepared by a person other than taxpayer, this certication is based on all
information of which the preparer has any knowledge.
Y o u r S i g n a t u r e
Spouse’s Signature (If ling joint return, both must sign.) Date
Home Telephone Number (Include area code.)
Date
N.C. DEPT. OF REVENUE
P.O. BOX 25000
RALEIGH, NC 27640-0640
If you ARE NOT due a
refund, mail return, any
payment, and D-400V to:
If REFUND mail
return to:
N.C. DEPT. OF REVENUE
P.O. BOX R
RALEIGH, NC 27634-0001
Paid Preparer’s Signature
Preparer’s Telephone Number (Include area code.)
Preparer’s FEIN, SSN, or PTIN
Date
Add Lines 26a, 26d, and 26e.
Pay This Amount - You can pay online. Go to
www.dornc.com and click on eServices for details.
27.
27.
$
Overpayment - If Line 19 is less than Line 25,
subtract Line 19 from Line 25.
28.
28.
30. Contribution to the N.C. Nongame and Endangered Wildlife Fund
30.
Amount of Line 28 to be applied to 2016 Estimated Income Tax29.
29.
Contribution of overpayment to the N.C. Education Endowment Fund31. 31.
Add Lines 29, 30, and 31.32. 32.
Subtract Line 32 from Line 28. This is the Amount To Be Refunded.
For direct deposit, le electronically. Go to www.dornc.com and click on eServices.
33.
33.
26e.
a. Tax Due - If Line 19 is more than Line 25, subtract Line 25 from Line 19.
(If Line 25 is negative, see instructions.)
26.
26a.
26d.
(Add Lines 26b
and 26c and
enter the total
on Line 26d.)
b. Penalties c. Interest
e. Interest on the underpayment of estimated income tax
(See instructions and enter letter in box, if applicable.)
19. Add Lines 17 and 18.
19.
18. Consumer Use Tax (See instructions.)
If you certify that no Consumer
Use Tax is due, ll in circle.
18.
Subtract Line 16 from Line 15.17.
17.
16. Tax Credits (From Form D-400TC, Part 3, Line 19 - You must attach
Form D-400TC if you enter an amount on this line.)
16.
Subtract Line 24 from Line 23.25.
25.
Amended Returns Only - Previous refunds (See Amended Returns in instructions.)24.
24.
Other Tax Payments21. a. 2015 estimated tax
b. Paid with extension
c. Partnership
d. S Corporation
Total Payments - Add Lines 20a through 22.23.
20.
a. Your tax withheld
b. Spouse’s tax withheld
North Carolina
Income Tax Withheld
Amended Returns Only - Previous payments (See Amended Returns in instructions.)22.
23.
22.
FOR ORIGINAL RETURNS ONLY
When ling an amended return, see instructions.
If you claim a
partnership payment
on Line 21c or S
corporation payment
on Line 21d, you must
attach a copy of the
NC K-1.
Exception to
underpayment
of estimated
tax
Page 2
D-400 Web-Fill
10-15
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