Legal Opinion
Fid. Bank v. N.C. Dep't of Revenue
Supreme Court of North Carolina
Decided August 18, 2017No. 392A16; 393PA16PublishedCited by 26 opinions
1Opinion of the Court
ERVIN, Justice.
**11 The principal issue before this Court in these consolidated appeals is whether the North Carolina Business Court correctly interpreted N.C.G.S. § 105-130.5(b)(1) so as to preclude The Fidelity Bank from deducting "Market Discount Income" relating to discounted United States obligations for North Carolina corporate income taxation purposes. In view of the fact that the relevant portions of N.C.G.S. § 105-130.5(b)(1) clearly and unambiguously preclude the proposed deduction, *144 we affirm the Business Court's substantive decision with respect to this issue while reversing the…
2Cases cited22 opinions
- Burgess v. Your House of Raleigh, Inc.Supreme Court of North Carolina · 1990
- Coastal Ready-Mix Concrete Co. v. Board of CommissionersSupreme Court of North Carolina · 1980
- Lenox, Inc. v. TolsonSupreme Court of North Carolina · 2001
- Polaroid Corp. v. OffermanSupreme Court of North Carolina · 1998
- Diaz v. Division of Social ServicesSupreme Court of North Carolina · 2006
17 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- State v. RankinSupreme Court of North Carolina · 2018
- Boles v. Town of Oak IslandCourt of Appeals of North Carolina · 2019
- Cabarrus Cty. Bd. of Educ. v. Dep't of State TreasurerSupreme Court of North Carolina · 2020
- Cabarrus Cty. Bd. of Educ. v. Dep't of State TreasurerSupreme Court of North Carolina · 2020
- Chappell v. N.C. Dep't of Transp.Supreme Court of North Carolina · 2020
21 more not listed; retrieve them via the Exa API.