Bill Summary for S 734 (2019-2020)
May 14 2020
|View NCGA Bill Details||2019-2020 Session|
AN ACT TO REENACT THE EARNED INCOME TAX CREDIT.Intro. by deViere, Foushee, Garrett.
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Reenacts GS 105-151.31, which sunset on January 1, 2014, concerning the earned income tax credit an individual could claim under section 32 of the Internal Revenue Code. Sets the earned income tax credit at 5% (previously, 4.5% for taxable year 2013 and 5% for all other taxable years). Repeals the reenacted statute effective for taxable years beginning on or after January 1, 2024. Effective January 1, 2020.