Enacts new GS 105-153.11 establishing an income tax credit for taxpayers operating a home school. The credit is 50% of the expenses incurred for establishing and operating the school. Caps the credit at the lesser of (1) the amount of the opportunity scholarship available to the taxpayer for students of the home school, or (2) the amount of income tax imposed for the taxable year reduced by the sum of all allowed credits, except tax payments made by or on behalf of the taxpayer. Allows unused portions to be carried forward fro the succeeding five years. Effective for taxable years beginning on or after January 1, 2019.
Bill H 174 (2019-2020)Summary date: Feb 26 2019 - More information
© 2021 School of Government The University of North Carolina at Chapel Hill
This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.