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(link is external) | 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.
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Bill History:
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Mon, 2 Dec 2024 Senate: Filed(link is external)
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Mon, 2 Dec 2024 Senate: Passed 1st Reading(link is external)
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Mon, 2 Dec 2024 Senate: Placed On Cal For 12/02/2024(link is external)
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Mon, 2 Dec 2024 Senate: Passed 2nd Reading(link is external)
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Mon, 2 Dec 2024 Senate: Passed 3rd Reading(link is external)
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Thu, 5 Dec 2024 Senate: Regular Message Sent To House(link is external)
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Thu, 5 Dec 2024 House: Regular Message Received From Senate(link is external)
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Mon, 9 Dec 2024 House: Passed 1st Reading(link is external)
S 920
Bill Summaries:
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Bill S 920 (2023-2024)Summary date: Dec 2 2024 - View Summary
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