Bill Summaries: S4 ELIMINATE TAX ON GOV'T RETIREES.

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  • Summary date: Jan 25 2023 - View Summary

    Amends GS 105-153.5(b), which provides permitted deductions from a taxpayer's adjusted 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, 2024.