North Carolina Personal Property Tax

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

The UltraTax/North Carolina Personal Property Tax application supports 1040, 1041, 1065, 1120, and 1120S entities. It prepares the personal property tax returns from depreciation data entered in the Asset Detail dialog.

North Carolina forms and schedules

* Non-calculating form

Depreciation treatments required for all NC PPT assets

The Book or NC treatment must be entered for North Carolina Personal Property Tax returns. By default, the Book treatment transfers to the return. However, if the Complete return using the NC treatment within the Asset module field on Screen Gen in the General folder for UltraTax/North Carolina Personal Property Tax, the NC treatment will transfer to the return.

Note: If you previously entered depreciation data for only the Tax treatment, you can copy asset data from the Tax treatment to the Book treatment or to the NC treatment.

Associations required for all NC PPT assets

Note: The associations listed above are maintained by UltraTax CS and Fixed Assets CS and cannot be modified. If the association fields are left blank, the asset will not transfer to the return.

Additional associations for NC PPT assets

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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