Bill Summary for S 943 (2025-2026)
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Summary date:
Apr 29 2026
Bill Information:
| View NCGA Bill Details | 2025-2026 Session |
AN ACT REPEALING THE SCHEDULED PHASEOUT OF THE CORPORATE INCOME TAX AND SETTING THE CORPORATE INCOME TAX RATE AT FIVE PERCENT.Intro. by Chitlik, Murdock, Smith.
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Bill summary
Contains whereas clauses.
Amends GS 105-130.3 (taxes on corporations), to impose an income tax on C corporations doing business in the State at the rate of 5%. Removes provisions reducing the tax rate for C corporations so that it would have zeroed out after 2029. Effective for taxable years beginning on or after January 1, 2026.