Live in North Carolina. North Carolina Taxable income will be aprox negativ $800Have to file WV return because I have rental income there. Do I have to file NC return.?

Forum|Forum|2 years ago
October 12, 2023
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I live in NC. I'm a resident of NC. But i will have no taxable income in NC. Do I have to file a NC state return.?

TurboTax Online

Best answer by SteamTrain

@s&rtaxes4wvnc

.....the requirement to prepare and "File" an NC tax return depends entirely on your Federal AGI (Gross Income before deductions) . Federal AGI is line 11 on your fully-prepared Federal form 1040. (NOT line 15).

Then the "Federal AGI" minimums for preparing and "filing" a NC 2022 tax return are shown in a table at the following website (2023 would be similar, but have not yet been posted):

Individual Income Filing Requirements | NCDOR

Anonymous_

Employee

I'll page @NCPERSON1 but you should probably file a return if want to preserve a loss carryover.

SteamTrainAnswer

Employee

@s&rtaxes4wvnc

Then the "Federal AGI" minimums for preparing and "filing" a NC 2022 tax return are shown in a table at the following website (2023 would be similar, but have not yet been posted):

Individual Income Filing Requirements | NCDOR

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

NCPERSON1

@SteamTrain - the NC standard deduction does not adjust for inflation. It only changes when the legislature changes it. So for 2023, the standard deduction is no different than 2022 as the legislature made no changes to is.

the tax rate is a flat tax and the legislature just passed a new budget that reduces that flat tax.

After the standard deduction, the flat tax is:

2023: 4.75%

2024: 4.50%

2025:4.25%

2026: 3.99%