Senate committee substitute makes the following changes to the 1st edition.

Changes the standard deduction amounts that a taxpayer may deduct from adjusted gross income in calculating North Carolina taxable income, based on filing status, as follows: Married, filing jointly/surviving spouse standard deduction is $16,500; head of household standard deduction is $13,200; single standard deduction is $8,250; and married, filing separately standard deduction is $8,250. Effective for taxable years beginning on or after January 1, 2016.

Amends GS 105-153.5(a)(1), effective for taxable years beginning on or after January 1, 2017, by increasing the standard deduction amounts that a taxpayer may deduct from adjusted gross income in calculating North Carolina taxable income, based on filing status, as follows: Married, filing jointly/surviving spouse standard deduction is $17,500; head of household standard deduction is $14,000; single standard deduction is $8,750; and married, filing separately standard deduction is $8,750 (these are the amounts that were effective January 1, 2016, in the previous edition). 

Provides that, notwithstanding GS 105-163.2 (requiring employers to withhold taxes), the Department of Revenue is not required to adjust the withholding tables applicable for the 2016 taxable year.

Changes long title.