Bill Summary for S 817 (2015-2016)
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Summary date:
May 5 2016
Bill Information:
| View NCGA Bill Details | 2015-2016 Session |
AN ACT TO AMEND THE NORTH CAROLINA CONSTITUTION TO PROVIDE THAT THE MAXIMUM TAX RATE ON INCOMES CANNOT EXCEED FIVE AND ONE-HALF PERCENT.Intro. by Rucho, Rabon, Tillman.
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Bill summary
Subject to approval by voters at the statewide election on November 8, 2016, amends Section 2 to Article V of the North Carolina Constitution by capping the rate on incomes at 5.5% (currently capped at 10%). If approved, effective for taxable years beginning on or after January 1, 2017.