Bill Summary for H 549 (2015-2016)
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Bill: TAX RESTORATION ACT.
Summary date:
Apr 2 2015
Bill Information:
| View NCGA Bill Details | 2015-2016 Session |
AN ACT TO RESTORE CERTAIN PERSONAL INCOME TAX RATES TO PREVIOUS LEVELS.Intro. by Harrison, Insko, Luebke.
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Bill summary
Amends GS 105-153.7(a) as the title indicates. Restores the personal income tax rate to 5.75% for individuals with taxable income up to $1 million and to 7.75% for individuals with taxable income exceeding $1 million. Effective for taxable years beginning on or after January 1, 2015.