Subject to approval by voters at the statewide general election on November 3, 2026, amends Section 2 to Article V of the North Carolina Constitution by decreasing the cap on income tax from seven to five percent. If approved, applicable to taxable years beginning on or after January 1, 2027.
CONST. AD. - INCOME TAX RATE CAP MODIFICATION.
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View NCGA Bill Details | 2023-2024 Session |
AN ACT TO AMEND THE NORTH CAROLINA CONSTITUTION TO PROVIDE THAT THE MAXIMUM TAX RATE ON INCOMES CANNOT EXCEED FIVE PERCENT.Intro. by Berger, Rabon, P. Newton.
Status:
Bill History:
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Mon, 2 Dec 2024 Senate: Filed
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Mon, 2 Dec 2024 Senate: Passed 1st Reading
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Mon, 2 Dec 2024 Senate: Placed On Cal For 12/02/2024
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Mon, 2 Dec 2024 Senate: Passed 2nd Reading
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Mon, 2 Dec 2024 Senate: Passed 3rd Reading
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Thu, 5 Dec 2024 Senate: Regular Message Sent To House
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Thu, 5 Dec 2024 House: Regular Message Received From Senate
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Mon, 9 Dec 2024 House: Passed 1st Reading
S 920
Bill Summaries:
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Bill S 920 (2023-2024)Summary date: Dec 2 2024 - View Summary
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