NC S869

Implements market-based sourcing methodology for multistate corporate income tax apportionment in North Carolina, replacing the current origin-based sourcing system effective for taxable years beginning on or after January 1, 2018 (or when corporate income tax rate reaches 3%, whichever is later).

Establishes specific market sourcing rules for broadcasters based on audience factors (viewing/listening audience ratios or subscriber percentages) with provisions for reasonable approximation using North Carolina population ratios when actual audience data cannot be determined.

Creates detailed market sourcing rules for banks that source receipts based on borrower or payor location for loans and fees, property location for real property-secured loans, and cardholder location for credit card activities.

Directs the Utilities Commission to adjust rates for public utilities (excluding small water utilities) within 60 days of enactment to reflect the cumulative net tax effects of these corporate income tax changes.

Authorizes expedited rulemaking procedures for the Department of Revenue to implement market-based sourcing guidance without requiring fiscal notes.