1120-S

Per the NC S corporation Instructions:

"The franchise tax rate is $200 for the first one million dollars ($1,000,000) of the corporation’s tax base and $1.50 per $1,000 (.0015) of its tax base that exceeds one million dollars ($1,000,000). The franchise tax can be no less than $200 with no maximum except for a qualified holding company. The corporate income tax rate for composite filers and Taxed S Corporations is based on the current individual income tax rate."

1120

Per the NC Corporation Instructions:

"The franchise tax rate is $1.50 per $1,000 (.0015) of the first $1,000,000 of the corporation’s net worth, with a maximum of $500. If the net worth base exceeds $1,000,000, multiply the amount over $1,000,000 by $1.50 per $1,000 (.0015) and add $500. The minimum franchise tax is $200.00 with no maximum except for a qualified holding company. The corporate income tax rate is 2.5% of net income attributed to North Carolina."