North Carolina · Flat income tax, franchise tax
CPA, bookkeeping & fractional CFO services in North Carolina
North Carolina has a flat personal income tax and one of the lowest corporate income tax rates in the country, with Charlotte banking and the Research Triangle driving much of its growth. CPA Torrance is a CPA-led firm based in Torrance, California that provides bookkeeping, tax planning, tax filing and fractional CFO support to North Carolina businesses remotely.
- Serving all of North Carolina remotely
- North Carolina CD-401S, D-403 and franchise tax tracked for you
- Monthly reporting included
In short
What taxes do North Carolina businesses pay?
North Carolina taxes pass-through income at the owner level under its flat personal income tax, and C corporations pay corporate income tax at a low rate that is being phased down. Corporations and S corporations also pay the North Carolina franchise tax. Sales tax is 4.75% at the state level plus county rates.
- State income tax
- Flat rate
- State sales tax
- 4.75% + local
- Key business tax
- Corporate franchise tax
- How we serve
- Remotely, statewide
Services in North Carolina
What we do for North Carolina business owners
From Charlotte finance firms and Raleigh-Durham tech startups to Greensboro manufacturers and coastal hospitality businesses, North Carolina companies need organized books and good planning. We provide monthly bookkeeping, federal and North Carolina tax planning, filings and CFO reporting from one coordinated team.
Bookkeeping Services
- Monthly reconciliations in QuickBooks Online
- North Carolina state and county sales tax tracking
- Payroll and contractor payment review
- Monthly profit and loss and balance sheet
- Catch-up and clean-up bookkeeping
Tax Planning & Strategy
- Entity and S corporation review
- North Carolina PTE election review
- Federal and state estimated payments
- Multi-state income review
- Year-end tax planning meeting
Tax Filing & Compliance
- Federal business returns (1120, 1120S, 1065)
- North Carolina CD-401S, D-403 and CD-405 returns
- Owner individual returns
- IRS and state notice help
- Due-date tracking for every filing
Fractional CFO Services
- Cash-flow forecasts
- Budget versus actual reviews
- Margin and pricing analysis
- Lender- and investor-ready reporting
- Growth and hiring plans
North Carolina tax planning
Planning around North Carolina taxes
North Carolina planning looks at the flat personal rate, the franchise tax, the PTE election and federal planning around entity type and owner pay.
Book a 15-min callFranchise tax
S corporations and C corporations file the franchise tax with the income tax return. We keep the calculation correct.
PTE election
North Carolina allows an elective pass-through entity tax. We model whether it saves you money.
Research and startups
Triangle startups may qualify for research credits and need investor-ready books.
Who we work with
North Carolina industries we serve
We work with owner-led businesses across North Carolina, with experience in the industries that drive the state economy.
Banking and fintech
Advisory and fintech firms around Charlotte.
Life sciences and tech
Research Triangle startups with grants and investor reporting.
Manufacturing and furniture
Job costing and inventory for North Carolina makers.
Hospitality
Restaurants and coastal tourism businesses.
E-commerce sellers
Online brands with North Carolina sales tax, inventory and multi-channel books.
Professional firms
Consultants, agencies and law firms billing by the hour, project or retainer.
Why North Carolina businesses choose CPA Torrance
Areas we cover
Serving businesses across North Carolina
Businesses in Charlotte, Raleigh, Durham, Greensboro, Winston-Salem work in banking, technology, life sciences, manufacturing and furniture. CPA Torrance helps North Carolina businesses, including those owned from out of state, stay compliant and organized through remote meetings.
- Charlotte
- Raleigh
- Durham
- Greensboro
- Winston-Salem
- Cary
- Wilmington
- Chapel Hill
- Asheville
- High Point
- Video meetings on your schedule
- Secure document portal for statements and returns
- Cloud accounting you can see any time
FAQ
North Carolina business tax and accounting questions
Not covered here? A 15-minute call gets you a straight answer for your situation.
What financial services can CPA Torrance provide to North Carolina businesses?
We provide monthly bookkeeping, federal and North Carolina tax planning, business tax filing and fractional CFO services. Everything runs from one set of books, so your bookkeeper, CPA and CFO advisor work from the same numbers.
Do North Carolina S corporations pay franchise tax?
Yes. S corporations and C corporations pay the North Carolina franchise tax, filed with the corporate return. LLCs taxed as partnerships generally do not.
Is there a pass-through entity tax in North Carolina?
Yes. Partnerships and S corporations can elect to pay North Carolina income tax at the entity level, which can help owners with the federal SALT cap.
How do I handle county sales tax?
North Carolina adds county rates to the state rate. We set up your books to apply the right rate based on where the sale is sourced.
Can CPA Torrance work with North Carolina businesses remotely?
Yes. We serve businesses across North Carolina, including Charlotte, Raleigh, Durham, Greensboro, Winston-Salem, Cary, Wilmington, Chapel Hill, Asheville and High Point, through video meetings, a secure document portal and cloud accounting you can see any time. Our office is in Torrance, California.
How do I get started?
Book a 15-minute call or request a free financial assessment. We review your books, tax position and systems and recommend the right mix of support for your North Carolina business.
Get your North Carolina books and taxes in order.
Book a call to review bookkeeping and tax planning for your North Carolina business.