AN ACT TO AMEND THE NORTH CAROLINA CONSTITUTION TO PROVIDE THAT THE MAXIMUM TAX RATE ON INCOMES CANNOT EXCEED SEVEN PERCENT. Enacted June 28, 2018. Effective June 28, 2018, except as otherwise provided.
Summary date: Jun 28 2018 - View Summary
Summary date: Jun 27 2018 - View Summary
House committee substitute makes the following changes to 2nd edition. Subject to approval by voters, amends Section 2 to Article V of the North Carolina Constitution by setting the maximum income tax rate at 7% (previously 5.5%). Amends the question to be used in the voting systems and ballots to state that this is a Constitutional amendment. Makes conforming changes.
Amends titles as indicated.
Summary date: Jun 20 2018 - View Summary
House committee substitute makes the following changes to 1st edition. Requires the amendment to the North Carolina Constitution to reduce the maximum income tax to be submitted to voters in a statewide general election to be held in November of 2018. Previously the act specified that the vote would be held on November 6, 2018. Requires the Bipartisan State Board of Elections and Ethics Enforcement to certify the amendment to the Secretary of State if the vote is favorable. Previously required the State Board of Elections to certify the amendment. Makes other clarifying and technical changes.
Summary date: Feb 14 2017 - View Summary
Subject to approval by voters at the statewide election on November 6, 2018, 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, 2019.