Bill Summary for S 843 (2021-2022)
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Summary date:
May 26 2022
Bill Information:
View NCGA Bill Details | 2021 |
AN ACT TO EXEMPT RETIREMENT INCOME OF GOVERNMENT EMPLOYEES.Intro. by Burgin.
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Bill summary
Amends GS 105-153.5(b), which provides permitted deductions from a taxpayer's adjust gross income for State income tax purposes, to allow deduction of amounts received during a taxable year from State, local, or federal government retirement plans for at least 20 years of government employment. Effective for taxable years beginning on or after January 1, 2023.