Record #:

30474

Author(s):

Hobart, Kay; Stevens, Ray

Abstract:

The interplay between interest deductions and the calculation of net operating losses presents a particular problem in some states. North Carolina banks operating in Maryland may not be getting the full benefit of the deduction for interest on federal obligations to which they are entitled. This article provides an example of how a state’s interpretation of its tax laws can adversely affect a North Carolina bank.

Source:

Carolina Banker (HG 2153 N8 C66), Vol. 93 Issue 3, Fall 2014, p18-19, por

Subject(s):

Banks and banking; Taxation--North Carolina; Tax laws--North Carolina