Bill Summaries: H83 (2021)

Tracking:
  • Summary date: Apr 1 2021 - View summary

    House committee substitute amends the 2nd edition as follows.

    Modifies the new deduction for individual taxpayers under GS 105-153.5(5a), which allows a taxpayer to deduct the amount received from the federal government as retirement pay for a retired US Armed Forces member who has served at least 20 years. Expands the deduction to include retirement pay to medically retired US Armed Forces members, excluding severance pay received by a member due to separation from the member's armed forces. Makes clarifying changes. 


  • Summary date: Mar 9 2021 - View summary

    House committee substitute amends the 1st edition as follows.

    Modifies the new deduction for individual taxpayers under GS 105-153.5(5a), which allows a taxpayer to deduct the amount received from the federal government as retirement pay for a retired US Armed Forces member who has served at least 20 years. Adds that the deduction also applies to payments to a beneficiary of a retired member eligible under the new deduction. Eliminates the conforming changes to subsection (5).


  • Summary date: Feb 15 2021 - View summary

    Enacts a new deduction for individual taxpayers under GS 105-153.5. Allows a taxpayer to deduct the amount received from the federal government as retirement pay for a retired US Armed Forces member who has served at least 20 years. Bars also deducting the same amount under the existing deduction provided for certain State, local and federal government retirement plans under subdivision (b)(5). Makes conforming changes. Effective for taxable years beginning on or after January 1, 2021.