CONST. AD. - INCOME TAX RATE CAP MODIFICATION.

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View NCGA Bill Details2023-2024 Session
Senate Bill 920 (Public) Filed Monday, December 2, 2024
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:
S 920

Bill Summaries:

  • Summary date: Dec 2 2024 - View Summary

    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.