Amends GS 105-153.5(c1) to permit a taxpayer, in calculating NC taxable income, to deduct from the taxpayer's adjusted gross income the amount paid by the taxpayer during the taxable year for the actual cost of tolls paid to facilities operated by private entities pursuant to GS 136-18(39a) for the use of Turnpike Facilities. Clarifies that this new deduction does not include (1) processing fees assessed for unpaid tolls under GS 136-89.215 or (2) civil penalties assessed for unpaid tolls under GS 136-89.216. Makes conforming, clarifying, and technical changes. Effective for taxable years beginning on or after January 1, 2017.
INCOME TAX DEDUCTION FOR TOLLS PAID.
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View NCGA Bill Details(link is external) | 2017-2018 Session |
AN ACT TO PROVIDE AN INCOME TAX DEDUCTION FOR TOLLS PAID FOR THE USE OF TURNPIKE FACILITIES.Intro. by Bradford, Beasley.
Status: Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House (House Action) (Apr 13 2017)
Bill History:
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Tue, 11 Apr 2017 House: Filed(link is external)
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Thu, 13 Apr 2017 House: Passed 1st Reading(link is external)
H 798
Bill Summaries:
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Bill H 798 (2017-2018)Summary date: Apr 12 2017 - View Summary
View: All Summaries for Bill