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Questions Answered by James Richard Yandle
1 Answer | Asked in Tax Law for North Carolina on
Q: Is it legal for NC to tax me on income I earned in a different state . I lived and worked in different state.

I did contact both offices.

James Richard Yandle
James Richard Yandle answered on Nov 22, 2019

Your resident state will tax your nationwide/worldwide income. You can claim a tax credit for taxes paid to the other state (or country). You end up, in effect, paying the higher of the two rates. Be careful of the expiring statute of limitations on claiming the credits, or you will end up... Read more »

1 Answer | Asked in Tax Law for North Carolina on
Q: GS 105-164.13(35) provides for exemptions for qualified non-profit organizations from paying sales tax on donated goods

Our organization has an annual Spring Sale and an annual Fall Sale. Are one or both of these annual sales exempt?

James Richard Yandle
James Richard Yandle answered on Sep 20, 2019

The statute reads "only upon an annual basis." A quick review does not reveal any NC cases or regulations interpreting the language further. I think you'd be going out on a limb applying an alternate interpretation to what a court would likely consider a 'plain meaning'... Read more »

2 Answers | Asked in Entertainment / Sports, Gaming and Tax Law for North Carolina on
Q: NC shot down a 2017 bill to legalize and tax Daily Fantasy Sports winnnings. Do i have to pay tax on winnings then?

I havent been able to get a clear answer on this. If DFS is not regulated and taxed in NC then i shouldn't have to pay state taxes on my yearly winnings right? Only Federal taxes. If so what is it taxed under and at what %

James Richard Yandle
James Richard Yandle answered on Jun 17, 2019

Wrong. The income is taxable, whether legal or not. Same as for income from embezzlement, illegal drug sales, or racketeering.

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1 Answer | Asked in Tax Law for North Carolina on
Q: are you responsible for paying taxes on home not in your name and you never lived in. Husband who owned it died.

I remarried. My husband had a home that was in his first wife's name she was deceased. After our marriage he was in severe accident and foreclosure happened on home. His name was never on deed and I never lived in the house or was not connected to it in anyway. Foreclosure notice went to his... Read more »

James Richard Yandle
James Richard Yandle answered on Dec 16, 2018

I assume you are talking about state INCOME tax (not local county property tax, or other type of tax). And, i'm guessing the issue arose from a 1099-C Cancellation of Debt, to the now deceased husband, from the foreclosure, (tax year 2016, based on timing?). Further, I'm guessing you... Read more »

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