17 N.C. Admin. Code 5C.0407

Current through Register Vol. 39, No. 9, November 1, 2024

Section 05C .0407 - REPURCHASE AGREEMENTS

Income attributable to or received from repurchase agreements of U.S. government securities, an agreement to repurchase securities at an agreed price and date, is not considered income derived directly from federal obligations and is taxable income.

17 N.C. Admin. Code 05C .0407

Authority G.S. 105-130.5; 105-262;
Eff. November 2, 1992;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 19, 2017.

Authority G.S. 105-130.5; 105-262;
Eff. November 2, 1992.