Amends GS 105-153.5(b) concerning taxpayer deduction amounts, providing that a taxpayer can deduct from adjusted gross income an amount not to exceed $50,000 of net business income the taxpayer has received during the year if the taxpayer has not received more than $250,000 in gross receipts. Also provides that a married couple filing jointly where both receive net business income, the maximum dollar amounts apply separately to each spouse's net business income. 

Effective for taxable years beginning on or after January 1, 2016.