Amends GS 105-153.5(b), which provides permitted deductions from a taxpayer's adjusted gross income for State income tax purposes, to allow deduction of amounts received during a taxable year from State, local, or federal government retirement plans for at least 20 years of government employment. Effective for taxable years beginning on or after January 1, 2024.
ELIMINATE TAX ON GOV'T RETIREES.
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| View NCGA Bill Details | 2023-2024 Session |
AN ACT TO EXEMPT RETIREMENT INCOME OF GOVERNMENT EMPLOYEES.Intro. by Burgin.
Status: Ref To Com On Rules and Operations of the Senate (Senate action) (Jan 26 2023)
Bill History:
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Wed, 25 Jan 2023 Senate: Filed
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Thu, 26 Jan 2023 Senate: Passed 1st Reading
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Thu, 26 Jan 2023 Senate: Ref To Com On Rules and Operations of the Senate
S 4
Bill Summaries:
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Bill S 4 (2023-2024)Summary date: Jan 25 2023 - View Summary
View: All Summaries for Bill