State income tax law changes for the third quarter of 2023

The third quarter of 2023 saw significant developments in state tax laws that will impact companies’ current and deferred tax provisions. North Carolina’s legislature approved another round of individual and corporate tax reductions in late September. Individual taxpayers should see lower NC tax rates beginning in 2024 and NC’s corporate franchise tax will be capped.  There’s also new administrative guidance from South Carolina on the tax treatment of remote workers. This quarter also brings positive news for business taxpayers in Ohio and Texas.

To learn more about state tax developments during the third quarter of 2023, click the link below.

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