Download all available information for this organization plus form 990 pdf files to your computer, laptop, and phone. 1  Assets: $5,000 2  +. Income: $50,000 3  +. Form 990 Revenue: $50,000 4  +. Organization Name & Address Covenant Theological Seminary. Po Box 1177.
The North Carolina state income tax is currently 5.75%. As of 2014, the state eliminated progressive income tax rates. All state taxpayers now face the 5.75% rate since 2015, which has remained constant in subsequent tax years. More on North Carolina taxes can be found in the tabbed pages below.
However, the state considers this cancellation of debt taxable income on which North Carolina income tax must be paid. For a full list of changes, please review the North Carolina Notice dated April 1, 2015 found at this link: http://www.dor.state.nc.us/taxes/impactofcodeupdate040115.pdf.s such, educational expenses deducted from the federal return will be subject to North Carolina income tax. Cancellation of Debt Related to Home. In many cases, individuals who had lost their primary homes had their mortgage debt canceled.