Bill Summary for H 879 (2011-2012)

Printer-friendly: Click to view
Bill: RAISE INCOME TAX ON MILLIONAIRES.

Summary date: 

May 3 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 879 (Public) Filed Tuesday, May 3, 2011
TO RAISE THE INCOME TAX RATE PAID ON HIGHLY COMPENSATED TAXPAYERS.
Intro. by Luebke.

View: All Summaries for BillTracking:

Bill summary

Amends GS 105-134.2(a) to tax the following individuals at a rate of 8.5%: (1) married individuals who file a joint return and certain surviving spouses with taxable income over $1 million; (2) heads of households with taxable income over $800,000; (3) unmarried individuals with taxable income over $600,000; and (4) married individuals not filing a joint return with taxable income over $500,000. Makes conforming changes. Effective for taxable years beginning on or after January 1, 2011.