North Carolina Corporate Estimated Income Tax
Extracted from PDF file 2019-north-carolina-cd-429.pdf, last modified August 2019
Corporate Estimated Income Tax.............. == ====m=!u: •· ···=!!! .::::••==·-·-::: :• Do Not Include This Page • RI NC D(i) NORTH CAROLINA DEPARTMENT OF REVENUE Instructions For Handwritten Forms Before Sending Guidelines Do not use red ink. Use blue or black ink. Printing ,,___(8) ® Do not use dollar signs, commas, or other punctuation marks. , 1 t®I ocopies of returns. Submit originals only. Set page scaling to "none." The Auto-Rotate and Center checkbox should be unchecked. 1� Do not select "print on both sides of paper." c; ;�1 Do not mix form types. CD-429 Corporate Estimated Income Tax Web 8-19 DOR Use Only GENERAL INSTRUCTIONS Estimated income tax is the amount of income tax a corporation expects to owe for the tax year after subtracting the amount of any tax credits taken during the tax year. A corporation that expects to incur an income tax liability to North Carolina of $500 or more during the taxable year must submit a declaration of estimated tax. Complete the worksheet below to determine if estimated income tax is due. Generally, a corporation must make its first estimated income tax payment by the fifteenth day of the fourth month of its taxable year. A schedule for determining when a corporation must pay its estimated income tax is located on page 2. To pay estimated income tax, a taxpayer must file Form CD-429 by the date determined. A taxpayer can use the Department’s website or mail the completed form to the address provided. The Department’s website offers two electronic options, (1) an online filing and payment system, and (2) an eFile program. For more information, visit www.ncdor.gov. SPECIFIC INSTRUCTIONS Fill in the applicable circle if the corporation is determined to be tax exempt for State income tax purposes but required to report unrelated business income, a non U.S./foreign corporation whose federal statutory due date is the fifteenth day of the seventh month, a cooperative, or mutual association. Worksheet for Computation of Estimated North Carolina Income Tax (Complete worksheet to determine if estimated income tax is due.) 1. Estimated Federal Taxable Income 1. 2. Estimated Additions to Federal Taxable Income 2. 3. Estimated Deductions from Federal Taxable Income 3. 4. Estimated North Carolina Taxable Income (Line 1 plus Line 2 minus Line 3) 4. 5. Estimated Nonapportionable Income 5. 6. Estimated Apportionable Income (Line 4 minus Line 5) 6. 7. Amount of Line 6 Estimated to be Apportioned to North Carolina 7. 8. Amount of Line 5 Estimated to be Directly Allocated to North Carolina 8. 9. Estimated Net Taxable Income (Line 7 plus Line 8) 9. 10. Estimated North Carolina Net Income Tax (Multiply Line 9 by 2.5%) 10. 11. Estimated Tax Credits 11. 12. Estimated North Carolina Net Tax Due (Line 10 minus Line 11) If $500 or more, see the schedule on Page 2 to determine the amount and due date of each installment. If $500 or less, no payment is required at this time. 12. Submit this form in its entirety. Do not separate the coupon from the rest of the form. Corporate Estimated Income Tax North Carolina Department of Revenue Beginning Tax Year (MM-DD-YY) Ending Tax Year (MM-DD-YY) Federal Employer ID Number N.C. Secretary of State ID Number Legal Name (First 35 Characters) Fill in circle if: (See specific instructions above) Tax Exempt Non U.S./Foreign Cooperative or Mutual Association USE CAPITAL LETTERS FOR YOUR NAME AND ADDRESS $ Address City Mail this form with your check or money order in U.S. currency from a domestic bank to: N.C. Department of Revenue, P.O. Box 25000, Raleigh, N.C. 27640-0650. Do not fold, tape, or staple the return or check. Do not send cash. State Zip Code AMOUNT OF THIS PAYMENT , , .00 If your address has changed since the filing of your last tax return, report the correct address on Form NC-AC, Address Correction Notification. CD-429 Web 8-19 Page 2 CD-429 Web 8-19 Schedule of When to Pay Estimated Income Tax Determine the amount and the due date of each installment to be paid in accordance with the following table: The following percentage of the estimated tax must be paid on or before the 15th day of the: The number of installments to be paid is: 4th month 6th month 9th month 12th month Before the 1st day of the 4th month of the taxable year 4 25 25 25 25 After the last day of the 3rd month and before the 1st day of the 6th month of the taxable year 3 33 1/3 33 1/3 33 1/3 After the last day of the 5th month and before the 1st day of the 9th month of the taxable year 2 50 50 After the last day of the 8th month and before the 1st day of the 12th month of the taxable year 1 If a corporation’s estimated tax reduced by tax credits is $500 or more, it meets the requirement for making payments. If this requirement is first met: 100 Failure to Pay Estimated Tax Failure to pay the required amount of estimated income tax will subject the corporation to interest on the underpayment of estimated income tax provided in Article 4C of Chapter 105 of the General Statutes. It is important to estimate the corporation’s income tax carefully to avoid interest on the underpayment of estimated income tax.
More about the North Carolina CD-429 Corporate Income Tax Estimated TY 2019
We last updated the Corporate Estimated Income Tax in February 2020, so this is the latest version of CD-429, fully updated for tax year 2019. You can download or print current or past-year PDFs of CD-429 directly from TaxFormFinder. You can print other North Carolina tax forms here.
Related North Carolina Corporate Income Tax Forms:
|Form Code||Form Name|
|Form CD-429B||Underpayment of Estimated Tax by C Corporations|
North Carolina usually releases forms for the current tax year between January and April. We last updated North Carolina CD-429 from the Department of Revenue in February 2020.
CD-429 is a North Carolina Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of North Carolina CD-429
We have a total of three past-year versions of CD-429 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of North Carolina Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.