Form Preview Example

Do Not Include This Page

Guidelines

•· ......==- ........m u:

::::==· ===·=-·=

. •• ··=!!!:::!:•

Instructions

For Handwritten

Forms

NCD(i)• R

Before Sending

I NORTH CAROLINA DEPARTMENT OF REVENUE

Do not use red ink. Use blue or black ink.

Do not use dollar signs, commas, or other punctuation

marks.

, 1 t®I

Printing

Set page scaling to

"none." The Auto-Rotate and Center checkbox should be unchecked.

1�

ocopies of returns. Submit originals only.

,,___(8)

Do not mix form types.

Do not select "print on bothc;sides of paper."

;�1

Web 7-20

CD-405

C-Corporation Tax Return 2020

For calendar year 2020 or

2 0

and ending

DOR

Use

other tax year beginning (MM-DD)

(MM-DD-YY)

Only

Legal Name (First 35 Characters)(USE CAPITAL LETTERS FOR YOUR NAME AND ADDRESS)					Federal Employer ID Number
Address					Secretary of State ID			NAICS Code
					Secretary of State ID			NAICS Code
City			State	Zip Code
					Gross Receipts / Sales
	Initial Return	Captive REIT	NC-Rehab is attached		,	,	,	,	.00
Fill in all	Final Return	Tax Exempt	NC-478 is attached		Total Assets per Balance Sheet
applicable	Short Year Return	Non U.S./Foreign	Has Escheatable Property		,	,	,	,	.00
circles:	Short Year Return	Non U.S./Foreign	Has Escheatable Property
circles:
	Amended Return	Combined Return (Approved Taxpayers Only)

Federal Extension Were you granted an automatic extension to file your 2020 federal income tax return (Form 1120)? Yes No

N.C. Education Endowment Fund: You may contribute to the N.C. Education Endowment Fund by making a contribution or designating some or all of your overpayment to the Fund. To make a contribution, enclose Form NC-EDU and your payment of $ _____________________________.

To designate your overpayment to the Fund, enter the amount of your designation on Page 2, Line 40. See instructions for information about the Fund.

A Computation of Franchise Tax

B Computation of Corporate Income Tax

1. Net Worth	Holding	1.		,	,		,		.00
(From Schedule C, Line 9)	Holding
	Company
	Company
2. Investment in N.C. Tangible Property	Exception	2.		,	,		,	.00
	Exception
	(See instructions)

(From Schedule D, Line 8)
(From Schedule D, Line 8)
3. Appraised Value of N.C. Tangible Property		3.		,				.00
				,	,		,	.00

(From Schedule E, Line 2)
(From Schedule E, Line 2)
4. Taxable Amount		4.		,	,		,		.00
4. Taxable Amount
Line 1, 2, or 3, whichever is greatest
5. Total Franchise Tax Due		5.			,		,		.00
5. Total Franchise Tax Due
Multiply Line 4 by .0015 ($1.50 per $1,000.00 - minimum $200.00)

6. Payment with Franchise Tax Extension (From Form CD-419, Line 9)		6.			,		,		.00
		6.
When filing an amended return, see instructions.
When filing an amended return, see instructions.
7. Tax Credits (From Form CD-425, Part 2, Line 14)		7.			,		,		.00
If a tax credit is taken on Line 7, Form CD-425 MUST be attached.					,		,		.00
8. Franchise Tax Due - If the sum of Line 6 plus 7 is less		8.	$		,		,		.00
8. Franchise Tax Due - If the sum of Line 6 plus 7 is less
than Line 5, enter difference here and on Page 2, Line 31
than Line 5, enter difference here and on Page 2, Line 31
9. Franchise Tax Overpaid - If the sum of Line 6 plus 7 is		9.			,		,		.00
9. Franchise Tax Overpaid - If the sum of Line 6 plus 7 is
more than Line 5, enter difference here and on Page 2, Line 31

10. Federal Taxable Income Before NOL	If amount on Line 10-12, 14-16, or	10.		,	,		,		.00
10. Federal Taxable Income Before NOL	If amount on Line 10-12, 14-16, or
(From Schedule G, Line 30 or Federal Form 1120,	18-20 is negative, fill in circle.
Line 28 minus 29b)	Example:
Line 28 minus 29b)	Example:			,	,		,
11. Adjustments to Federal Taxable Income		11.							.00
(From Schedule H, Line 5)
(From Schedule H, Line 5)				,	,		,
12. Net Income Before Contributions		12.							.00
Add Lines 10 and 11									.00
Add Lines 10 and 11		13.		,	,		,		.00
13. Contributions to Donees Outside N.C.
13. Contributions to Donees Outside N.C.
(From Schedule I, Line 1c)
14. N.C. Taxable Income		14.		,	,		,		.00
14. N.C. Taxable Income		14.
Line 12 minus Line 13
Line 12 minus Line 13				,	,		,
15. Nonapportionable Income		15.							.00
(From Schedule N, Line 1)
(From Schedule N, Line 1)				,	,		,
16. Apportionable Income		16.							.00
Line 14 minus Line 15		16.

						.
17. Apportionment Factor - Enter to four decimal places		17.						%
(From Schedule O, Part 1; Part 2 - Line 9 or Part 3)								%
18. Income Apportioned to N.C.		18.		,	,		,		.00
18. Income Apportioned to N.C.
Multiply Line 16 by factor on Line 17
Multiply Line 16 by factor on Line 17
19. Nonapportionable Income Allocated to N.C.		19.		,				.00
				,	,		,	.00

(From Schedule N, Line 2)
(From Schedule N, Line 2)
20. Income Subject to N.C. Tax		20.		,	,		,		.00
20. Income Subject to N.C. Tax
Add Lines 18 and 19
Add Lines 18 and 19
21. Percentage Depletion over Cost Depletion on N.C. Property		21.		,	,		,		.00
		21.
(See Instructions)
(See Instructions)

Page 2,

B Computation of Corporate Income Tax

Tax Due or Refund

CD-405 Web, 7-20		Legal Name			FEIN

22.	State Net Loss (Attach schedule)		If amount on Line	22.	,	,	,		.00
			If amount on Line		,	,	,
			23 or 25 is negative
			23 or 25 is negative		,	,	,
23.	Income Before Contributions to N.C. Donees		fill in circle.	23.				.00
	Line 20 minus Lines 21 and 22		Example:	23.
	Line 20 minus Lines 21 and 22		Example:		,	,	,
24.	Contributions to N.C. Donees			24.				.00
	(From Schedule I, Line 2e)			24.				.00
25.	Net Taxable Income			25.	,	,	,	.00
25.	Net Taxable Income
	Line 23 minus Line 24
26.	N.C. Net Income Tax			26.		,	,	.00
26.	N.C. Net Income Tax			26.
	Multiply Line 25 by 2.5%
	Multiply Line 25 by 2.5%

27.Payments and Credits

When filing an amended return, see instructions.

	a. Income Tax Extension										27a.			,	,				.00
	(From Form CD-419, Line 10)													,	,


	b. 2020 Estimated Tax										27b.		,		,				.00
	b. 2020 Estimated Tax										27b.



	c. Partnership (If a partnership payment is taken on										27c.			,	,					.00
	Line 27c, a copy of Form D-403 NC K-1 MUST be attached.)													,	,


	d. Nonresident Withholding										27d.			,	,				.00
	(Include copy of 1099 or W-2)										27d.


	e. Tax Credits (From Form CD-425, Part 4, Line 30)
	e. Tax Credits (From Form CD-425, Part 4, Line 30)										27e.			,	,				.00
	If a tax credit is taken on Line 27e,										27e.
	If a tax credit is taken on Line 27e,
	Form CD-425 MUST be attached.
	Form CD-425 MUST be attached.
28. Add Lines 27a through 27e											28.			,	,				.00
28. Add Lines 27a through 27e											28.


29.	Income Tax Due - If Line 28 is less than Line 26, enter										29.	$		,	,		.00
29.	Income Tax Due - If Line 28 is less than Line 26, enter
	difference here and on Line 32, below
30. Income Tax Overpaid - If Line 28 is more than											30.			,	,		.00
30. Income Tax Overpaid - If Line 28 is more than											30.
	Line 26, enter difference here and on Line 32, below
	Line 26, enter difference here and on Line 32, below

31. Franchise Tax Due or Overpayment						If amount on Line 31-33 is an					31.			,	,				.00
						If amount on Line 31-33 is an					31.
	(From Schedule A, Line 8 or 9)						overpayment fill in circle.

														,	,		.00
32. Income Tax Due or Overpayment								Example:			32.
	(From Schedule B, Line 29 or 30)										32.
	(From Schedule B, Line 29 or 30)
33. Balance of Tax Due or Overpayment											33.			,	,		.00
33. Balance of Tax Due or Overpayment
	Add (or subtract) Lines 31 and 32
	Add (or subtract) Lines 31 and 32					Exception to
34.	Underpayment of Estimated Income Tax
															,	.00
						Underpayment					34.
	(Enter letter in exceptions box, if applicable. See instructions.)					of Estimated Tax


35.	a. Interest		b.	Penalties						(Add Lines 35a
35.	a. Interest		b.	Penalties

		,	.00		,			.00		and 35b and	35c.			,	,			.00
		,	.00		,			.00		enter the total				,	,			.00


										on Line 35c)
										on Line 35c)
36. Total Due - Add Lines 33, 34, and 35c and enter result here,
									Pay in U.S. Currency				,		,
									Pay in U.S. Currency
	but not less than zero. If less than zero, enter amount on Line 37.								From a Domestic Bank 36.									00
									From a Domestic Bank 36.									00
	Pay your tax online. See instructions.																		.
	Pay your tax online. See instructions.														,				.
37. Overpayment											37.			,	,				.00
37. Overpayment											37.



38.	Amount of Line 37 applied to 2021 Estimated Income Tax										38.			,	,				.00
38.	Amount of Line 37 applied to 2021 Estimated Income Tax										38.


39.	Amount of Line 37 contributed to N.C. Nongame and Endangered Wildlife Fund										39.			,	,					.00
39.											39.



40. Amount of Line 37 contributed to N.C. Education Endowment Fund											40.			,	,					.00
											40.


41. Amount to be Refunded											41.			,	,				.00
	Line 37 minus Lines 38, 39, and 40													,	,
	Line 37 minus Lines 38, 39, and 40

I declare and certify that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete.

Corporate Phone Number

(Include area code)

Signature and Title of Officer:

Date

PAID PREPARER USE ONLY

Check here if you authorize the North Carolina Department of Revenue to discuss this return and attachments with the paid preparer below.

If prepared by a person other than taxpayer, this certification is based on all

Preparer’s FEIN, SSN, or PTIN

Preparer’s Contact Phone Number (Include area code)

information of which the preparer has any knowledge.

Signature of Paid Preparer:	Date	Fill in applicable circle:	FEIN	SSN	PTIN
Signature of Paid Preparer:	Date

MAIL TO: N.C. Dept. of Revenue, P.O. Box 25000, Raleigh, N.C. 27640-0500. Returns are due by the 15th day of the 4th month after the end of the income year.

Page 3, CD-405 Web, 7-20 Legal Name

FEIN

CNet Worth


1.	Total assets (See instructions for definition)	1.		.00
2.	Total liabilities	2.			.00
3.	Line 1 minus Line 2	3.			.00
4.	Accumulated depreciation, depletion, and amortization permitted for income tax purposes	4.			.00
	(Attach Schedule)	4.			.00
5.	Line 3 minus Line 4	5.			.00
6.	Affiliated indebtedness (Attach schedule)				.00
		6.			.00
7.	Line 5 plus (or minus) Line 6	7.			00
		8.	.		.
8. Apportionment factor (From Schedule O, Part 1; Part 2 - Line 9; or Part 3)		8.	.		%
9. Net Worth
	Multiply Line 7 by factor on Line 8 and enter result here and on Schedule A, Line 1.	9.		.00
	If amount on Line 9 is less than zero, enter zero on Schedule A, Line 1.	9.		.00

DInvestment in N.C. Tangible Property

		Inventory valuation method:		1.		.00
1.	Total value of inventories located in N.C.	FIFO	Lower of cost or market Other	1.		.00
					.00
2.			(LIFO valuation not permitted)
2.	Total value of furniture, fixtures, and machinery and equipment located in N.C.			2.
3.	Total value of land and buildings located in N.C.			3.		.00
4.	Total value of leasehold improvements and other tangible property located in N.C.			4.		.00
	Add Lines 1 through 4 and enter total			5.		.
5.	Add Lines 1 through 4 and enter total			5.		00
6.	Accumulated depreciation, depletion, and amortization with respect to N.C. tangible property			6.		.00
7.	Debts existing for the purchase or improvement of N.C. real estate			7.		.00
7.				7.		.00

8. Investment in N.C. Tangible Property				8.	.00
	Line 5 minus Lines 6 and 7; enter amount here and on Schedule A, Line 2			8.	.00
E Appraised Value of N.C. Tangible Property

1.	Total appraised value of all N.C. tangible property, including motor vehicles			1.			.00
	(If tax year ends December 31, 2019 through September 30, 2020, enter the appraised county tax value			1.
	of all real and tangible property located in N.C. as of January 1, 2019, including any motor vehicles

	assessed during the tax year. Otherwise, enter value as of January 1, 2020.)
2. Appraised Value of N.C. Tangible Property				2.	.00
	Multiply Line 1 by 55%; enter here and on Schedule A, Line 3			2.	.00
F Other Information - All Taxpayers Must Complete this Schedule

1. State of incorporation

Date incorporated

2.Date Certificate of Authority was obtained from N.C. Secretary of State

3. Regular or principal trade or business in N.C.

Everywhere

4.Principal place from which business is directed or managed

5.What was the last year the IRS redetermined the corporation’s federal taxable income?

6.	Were the adjustments reported to N.C.?	Yes	No	If so, when?
7.	Does this corporation finance or discount its receivables through a related or an affiliated company?					Yes	No

8.Is this corporation subject to franchise tax but not N.C. income tax because the corporation’s income tax activities

are protected under P.L. 86-272? (Attach detailed explanation)NoYes

9.Officers’ names and addresses:

President			Secretary
Vice-President			Treasurer

Page 4, CD-405 Web, 7-20 Legal Name

GFederal Taxable Income Before NOL Deduction

Complete this schedule if you do not attach a copy of your federal income tax return.

1. a. Gross receipts or sales		.00
	b. Returns and allowances					.00
	c. Balance (Line 1a minus Line 1b)					.00
2.	Cost of goods sold (Attach schedule)					.00
3.	Gross Profit (Line 1c minus Line 2)					.00
4.	Dividends (Attach schedule)					.00
5. a. Interest on obligations of the		.00
	United States and its	.00
	United States and its
	instrumentalities					.00
	b. Other interest					.00
	b. Other interest					.00
6.	Gross rents					.00
6.	Gross rents					.00
7.	Gross royalties (Attach schedule)					.00
8.	Capital gain net income (Attach schedule)		.00
8.	Capital gain net income (Attach schedule)					.00
9.	Net gain (loss) (Attach schedule)					.00
10.	Other income (Attach schedule)					.00
11.	Total Income					.00
	Add Lines 3 through 10					.00

12. Compensation of officers				.00
	(Attach schedule, including addresses)			.00
13. Salaries and wages				.00
	(Less employment credits)			.00
14. Repairs and maintenance				.00
15. Bad debts				.00
16. Rents					.00
17. Taxes and licenses					.00
18. Interest		.00
19. Charitable contributions					.00

20.a. Depreciation

	b. Depreciation included
	in cost of goods sold	.00
	c. Balance (Line 20a minus Line 20b)	.00
21.	Depletion			.00
22.	Advertising			.00
23.	Pension, profit-sharing,			.00
	and similar plans			.00
24.	Employee benefit programs			.00
25.	Reserved for future use
25.	Reserved for future use
26.	Other deductions (Attach schedule)		.00
27.	Total Deductions		.00
	Add Lines 12 through 26
	Add Lines 12 through 26
28.	Taxable Income per Federal Return				.00
	Before NOL and Special Deductions
	Line 11 minus Line 27
29.	Special Deductions				.00
	(From Federal Form 1120, Line 29b)				.00

30.	Federal Taxable Income Before NOL
	Line 28 minus Line 29; enter amount here	.00
	and on Schedule B, Line 10	.00

FEIN

HAdjustments to Federal Taxable Income

1.Additions:

a.Taxes based on net income.00

b.Contributions.00

c.Royalties to related members.00

d.Net interest expense to related members.00


e. Expenses attributable to income			.00
not taxed
f. Bonus depreciation			.00
			.00
g. Section 179 expense deduction
h. Other (Attach explanation or schedule)			.00
2. Total Additions (Add Lines 1a-1h)		.00
3. Deductions:		.00
a. U.S. obligation interest (net of expenses)
(Attach schedule)

b. Other deductible dividends		.00
c. Royalties from related		.00
members
d. Qualified interest expense to		.00
related members
e. Bonus depreciation		.00
f. Section 179 expense deduction		.00
g. Other (Attach explanation or schedule)		.00
			.00
4. Total Deductions (Add Lines 3a-3g)

5. Adjustments to Federal
Taxable Income
	.00
Line 2 minus Line 4, enter amount
here and on Schedule B, Line 11

IContributions

1.Contributions to Donees Outside N.C.

a. Enter total contributions to donees	.00
a. Enter total contributions to donees
outside N.C.
b. Multiply the amount shown on
Schedule B, Line 12 by 5% if Line	.00
12 is greater than zero. Otherwise,	.00
12 is greater than zero. Otherwise,
enter zero here.
c. Amount Deductible
c. Amount Deductible		.00
Enter the lesser of Line 1a or 1b
here and on Schedule B, Line 13

2. Contributions to N.C. Donees

a. Enter total contributions to N.C.	.00
donees other than those listed in	.00
donees other than those listed in
Line 2d, below
b. Multiply the amount shown on
Schedule B, Line 23 by 5% if Line			.00
23 is greater than zero. Otherwise,
enter zero here.
c. Enter the lesser of Line 2a or 2b			.00
d. Enter total contributions to the State	.00
d. Enter total contributions to the State
of N.C. and its political subdivisions
e. Amount Deductible
Add Lines 2c and 2d; enter total		.00
here and on Schedule B, Line 24		.00

JExplanation of Changes for Amended Return

Attach additional sheets if necessary

Note: The letter K is not used to designate a schedule.

Page 5,

L Balance Sheet per Books

M-1 Reconciliation of Income	(Loss) per Books With Return
M-2 Retained	Earnings Analysis

CD-405 Web, 7-20 Legal Name

Assets

1.Cash

2a. Trade notes and accounts receivable

b. Less allowance for bad debts

(

3.Inventories

4.a. U.S. government obligations b. State and other obligations

5.Tax-exempt securities

6.Other current assets (Attach end of year schedule)

7.Loans to shareholders

8.Mortgage and real estate loans

9.Other investments (Attach end of year schedule)

10.a. Buildings and other depreciable assets

b. Less accumulated depreciation	(
b. Less accumulated depreciation
11. a. Depletable assets
b. Less accumulated depletion	(
b. Less accumulated depletion

12.Land (net of any amortization)

13.a. Intangible assets (amortizable only)

b. Less accumulated amortization	(

14.Other assets (Attach end of year schedule)

15.Total Assets

Liabilities and Shareholders’ Equity

16.Accounts payable

17.Mortgages, notes, and bonds payable in less than 1 year

18.Other current liabilities (Attach end of year schedule)

19.Loans from shareholders

20.Mortgages, notes, and bonds payable in 1 year or more

21.Other liabilities (Attach end of year schedule)

22.Capital stock: a. Preferred Stock b. Common Stock

23.Additional paid-in capital

24.Retained earnings – Appropriated

(Attach end of year schedule)

25.Retained earnings – Unappropriated

26.Adjustments to shareholders’ equity

(Attach end of year schedule)

27.Less cost of treasury stock

28.Total Liabilities and Shareholders’ Equity

1.Net income (loss) per books

2.Federal income tax

3.Excess of capital losses over capital gains

4.Income subject to tax not recorded on books this year (itemize):

5.Expenses recorded on books this year not deducted on this return (itemize):

a.Depreciation $

b.Charitable Contributions $

c.Travel and entertainment $

6.Add Lines 1 through 5

1.Balance at beginning of year

2.Net income (loss) per books

3.Other increases (itemize):

4.Add Lines 1, 2, and 3

		FEIN
Beginning of Tax Year		End of Tax Year



)	(	)

)	(	)

)	(	)



)	(	)

(	)	(		)

7.Income recorded on books this year not included on this return (itemize): Tax-exempt interest $

8.Deductions on this return not charged against book income this year (itemize):

a.Depreciation $

b.Charitable Contributions $

9.Add Lines 7 and 8

10.Income (Line 6 minus Line 9)

5.Distributions: a. Cash

b.Stock

c.Property

6.Other decreases (itemize):

7.Add Lines 5 and 6

8.Balance at End of Year (Line 4 minus Line 7)

Page 6, CD-405 Web, 7-20 Legal Name

FEIN

N Nonapportionable Income

Complete this schedule if you have income classified as nonapportionable income. See the instructions for an explanation of what is apportionable income and what is nonapportionable income.

(A) Nonapportionable Income

(B) Gross

(D) Net Amounts

(E) Net Amounts Allocated

Amounts

Expenses*

(Column B minus Column C)

Directly to N.C.

1.	Nonapportionable Income (Enter the total of Column D here and on Schedule B, Line 15)	.00
2.	Nonapportionable Income Allocated to N.C. (Enter the total of Column E here
2.			.00
	and on Schedule B, Line 19)		.00

Explanation of why income listed in chart is nonapportionable income rather than apportionable income:

(Attach additional sheets if necessary)

*For an acceptable means of computing related expenses, see 17 N.C.A.C. 5C .0304.

Part 1.	Domestic and Other Corporations Not Apportioning Franchise or Income Outside N.C.			100.0000	%
	Enter 100% on Schedule B, Line 17 and Schedule C, Line 8				%

Part 2.	Corporations Apportioning Franchise or Income to N.C. and to Other States	Example:
Part 2.				99.9999	%
	Note: Apportionment factors must be calculated 4 places to the right of the decimal.

	State Net Loss Apportionment:
	Are you electing to apportion receipts based on income-producing activities due to a State Net Loss?		Yes	No

of Apportionment Factor

1.Gross Receipts Subject to Apportionment

2.Gross Rents Subject to Apportionment

3.Gross Royalties Subject to Apportionment

4.Dividends Subject to Apportionment

5.Interest Subject to Apportionment

6.Other Apportionable Income

7.Share of Receipts from Noncorporate Entities Subject to Apportionment

8.Total (Add Lines 1 through 7 for each column)

1. Within North Carolina

2. Total Everywhere

O Computation

9. N.C. Apportionment Factor
(Divide Line 8 Column 1 by Line 8 Column 2; enter the factor here, on Schedule B, Line 17, and Schedule C, Line 8.	%
See instructions and G.S. 105-130.4 for more information.)

Part 3. Special Apportionment Formulas
Special apportionment formulas apply to certain types of corporations such as banks, wholesale
content distributors, electric power companies, air transportation companies, water transportation

companies, pipeline companies, and railroad companies. If you use a special apportionment	%
formula, enter the computed apportionment factor here, on Schedule B, Line 17, and on Schedule
C, Line 8. Attach a schedule to support the special apportionment calculation. (See instructions and

G.S. 105 -130.4, 130.4A, and 130.4B for more information.)

Question	Answer
Form Name	405 Nc Form
Form Length	7 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 45 sec
Other names

405 Nc Form – Fill Out and Use This PDF

405 Nc Form PDF Details

Form Preview Example

405 Nc Form isn’t the one you’re looking for?

405 Nc Form – Fill Out and Use This PDF

405 Nc Form PDF Details

Form Preview Example

405 Nc Form isn’t the one you’re looking for?

Related Documents