INSTRUCTIONS: NORTH CAROLINA S CORPORATION TAX RETURN (Form CD-401S)

North Carolina S Corporations use a form CD-401S to file their state tax return. This document can be obtained from the website of the North Carolina Department of Revenue.

North Carolina S Corporation Tax Return CD401-S Step 1: Enter the fiscal year starting and ending dates for which you are filing if not filing on a calendar year basis.

North Carolina S Corporation Tax Return CD401-S Step 2: Enter the legal name of your business, its address, your tax identification number, your gross sales and total assets per balance sheet. Fill in the ovals next to the statements describing your type of company and the type of return being filed.

North Carolina S Corporation Tax Return CD401-S Step 3: In section A, follow instructions to compute your franchise tax.

North Carolina S Corporation Tax Return CD401-S Step 4: In section B, follow instructions to compute your corporate income tax due, as well as any refund owed.

North Carolina S Corporation Tax Return CD401-S Step 5: In section C, document your capital stock, surplus and undivided profits as instructed.

North Carolina S Corporation Tax Return CD401-S Step 6: In section D, document your corporation's investments in tangible property in the state.

North Carolina S Corporation Tax Return CD401-S Step 7: In section E, document the appraised value of this tangible property.

North Carolina S Corporation Tax Return CD401-S Step 8: In section F, answer all miscellaneous questions as directed.

North Carolina S Corporation Tax Return CD401-S Step 9: In section G, compute your ordinary income or loss from trade or business activities as instructed.

North Carolina S Corporation Tax Return CD401-S Step 10: In section G, compute your income or loss as instructed.

North Carolina S Corporation Tax Return CD401-S Step 11: In section I, compute adjustments to your income or loss as instructed.

North Carolina S Corporation Tax Return CD401-S Step 12: If you are filing an amended return, you must document all changes in section J. If there is not sufficient space to complete your explanations, more is provided on page 8.

North Carolina S Corporation Tax Return CD401-S Step 13: Document shareholders' pro rata share items in section K, your balance sheet per books in section L, your nonapportionable income in section N and your apportionment factor in section O.