• Summary date: May 14 2020 - More information

    Adds the following to the deductions permitted for individual income tax under GS 105-153.5. Allows for a deduction of a percentage of income that is earned by an essential employee and derived from activities for which the employee is deemed essential during the period of March 28, 2020, to December 31, 2020. Defines essential employee to mean an employee working in a critical infrastructure sector identified in the specified federal advisory list published by the federal Cybersecurity & Infrastructure Security Agency. Sets the percentage at 50% for the first $110,000 of income, and 70% for the remainder. Effective for taxable years beginning on or after January 1, 2020.

© 2022 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.

Printer-friendly: Click to view