Under current law, GS 105-153.5(b) provides that in calculating North Carolina taxable income, a taxpayer may make other deductions from the taxpayer's adjusted gross income (AGI) as indicated in this subsection. Amends the subsection to include a new subdivision (10) to provide that a taxpayer in the business of farming and who meets additional requirements as specified in this subdivision may deduct up to $25,000 from the taxpayer's AGI.

Effective for taxable years beginning on or after January 1, 2015, and expires for taxable years beginning on or after January 1, 2019.