Bill Summary for S 461 (2023-2024)
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Bill: REENACT EITC.
Summary date:
Mar 30 2023
Bill Information:
View NCGA Bill Details | 2023-2024 Session |
AN ACT TO REENACT THE EARNED INCOME TAX CREDIT.Intro. by Salvador, Chaudhuri, Garrett.
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Bill summary
Reenacts GS 105-153.11, the Earned Income Tax Credit (EITC) as it existed immediately before its expiration, but recodifies it as GS 105-153.11. Increases the State EITC to 10% (from 5%) of the amount the individual qualifies for under the federal earned income tax credit. Removes outdated language. Effective for taxable years beginning on or after January 1, 2023.