Bill Summary for S 4 (2023-2024)

Printer-friendly: Click to view

Summary date: 

Jan 25 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
Senate Bill 4 (Public) Filed Wednesday, January 25, 2023
AN ACT TO EXEMPT RETIREMENT INCOME OF GOVERNMENT EMPLOYEES.
Intro. by Burgin.

View: All Summaries for BillTracking:

Bill summary

Amends GS 105-153.5(b), which provides permitted deductions from a taxpayer's adjusted gross income for State income tax purposes, to allow deduction of amounts received during a taxable year from State, local, or federal government retirement plans for at least 20 years of government employment. Effective for taxable years beginning on or after January 1, 2024.