North Carolina Income Tax Forms Rates & Services

If you are entitled to claim an income tax credit for child and/or dependent care expenses on your federal return, you may also claim a tax credit for these expenses on your North Carolina return.

If your social security or railroad retirement benefits were taxed on your federal return, you may take a deduction on your North Carolina individual income tax return. As this income has already been included as part of your federal taxable income, North Carolina does not tax this income.

The 2006 General Assembly enacted legislation to allow a deduction of up to $750 ($1,500 on a joint return) for amounts contributed to the Parental Savings Trust Fund (North Carolina’s 529 Plan),  effective for tax years beginning on or after January 1, 2006, This credit is available if your federal adjusted gross income was less than the following amounts shown for your filing status:

• Married filing jointly/Qualifying widow(er)- $100,000;
• Head of household - $80,000; Single - $60,000;
• Married filing separately - $50,000).

The legislation had since been amended to increase the maximum deduction for contributions to the Fund to $2,000 ($4,000 on a joint return) effective for tax years beginning on or after January 1, 2007.

You may deduct up to $35,000 of any severance wages you received as a result of your permanent involuntary termination from employment through no fault of your own.

Other Helpful Links:
North Carolina Department of Revenue: http://www.dor.state.nc.us/
North Carolina Individual Income Tax Frequently Asked Questions: http://www.dor.state.nc.us/faq/individual.html
North Carolina Tax Forms and Instructions: http://www.dor.state.nc.us/downloads/individual.html
Internal Revenue Service: http://www.irs.gov/

Liberty currently has 151 offices in North Carolina to suit all your tax preparation needs. We're becoming known for our customer service throughout the country. We treat our customers as number one, and we guarantee our service 100%.

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