Bill Summary for S 711 (2011-2012)

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Summary date: 

Apr 19 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 711 (Public) Filed Tuesday, April 19, 2011
TO ELIMINATE THE INCOME TAX CREDIT FOR QUALIFYING EXPENSES OF A PRODUCTION COMPANY.
Intro. by Mansfield.

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Bill summary

Amends GS 105-130.47 and 105-151.29 both (statutes establish tax credits for production company expenses) to sunset the provisions of the statute effective January 1, 2011, instead of the January 1, 2014, sunset in the current law. Makes conforming changes. Effective for taxable years beginning on or after January 1, 2011.