Re-enacts GS 105-151.31, the "Earned Income Tax Credit," as it existed immediately before its expiration. Requires an individual who is a nonresident or part-year resident who claims the credit under this statute to reduce the amount of the credit by multiplying it by the appropriate fraction: (1) for the 2016 taxable year the percentage is 2.5% and (2) for all other taxable years, the percentage is 5%.
Provides that this statute is repealed for taxable years beginning on or after January 1, 2020.
Effective for taxable years beginning on or after January 1, 2016.
REENACT EITC.
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| View NCGA Bill Details | 2015-2016 Session |
AN ACT TO REENACT THE EARNED INCOME TAX CREDIT.Intro. by Foushee, Lowe, Van Duyn.
Status: Ref To Com On Finance (Senate Action) (Apr 27 2016)
Bill History:
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Tue, 26 Apr 2016 Senate: Filed
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Wed, 27 Apr 2016 Senate: Passed 1st Reading
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Wed, 27 Apr 2016 Senate: Ref To Com On Finance
S 757
Bill Summaries:
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Bill S 757 (2015-2016)Summary date: Apr 26 2016 - View Summary
View: All Summaries for Bill