Separately, we want to reiterate that North Carolina is one of many states that have still not updated their conformity with the Internal Revenue Code up to date following the passage of the One Big Beautiful Bill Act (OBBBA). As of today, the state continues to conform to the IRC as of January 1, 2023.
We are awaiting an announcement from the General Assembly, with conformity scheduled for a vote on Tuesday, June 2, 2026. At this point, legislative focus appears to be on the state budget, and the timing of any conformity update remains uncertain. Until action is taken, federal changes enacted after January 1, 2023, do not automatically apply for North Carolina tax purposes. Items such as 100% bonus depreciation and changes to the treatment of R&D costs impact many taxpayers.
Our team is actively monitoring developments and will continue to provide updates as clarity emerges.
We’re Here to Help
If you believe your business may have been impacted by tariffs, or if you have questions about the refund process or North Carolina conformity, please reach out to your DMJPS advisor. We’re happy to help you determine whether further review makes sense or to point you toward additional resources.
Rollin Groseclose, CPA, CGMA
Rollin Groseclose, CPA, CGMA is a DMJPS PLLC Partner and the Director of Tax Services. Rollin is responsible for coordinating the firm’s tax services for clients, both businesses and individuals, and he helps the firm stay up to date on the latest tax developments. He has significant expertise in the areas of tax and business advisory services and focuses his energies on manufacturing and distribution, construction and real estate development, and hospitality. His expertise is also extensive with clients that have multi-state and international activities.