Amends GS 105-153.7(a) as the title indicates. Restores the personal income tax rate to 5.75% for individuals with taxable income up to $1 million and to 7.75% for individuals with taxable income exceeding $1 million. Effective for taxable years beginning on or after January 1, 2015.
TAX RESTORATION ACT.
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| View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO RESTORE CERTAIN PERSONAL INCOME TAX RATES TO PREVIOUS LEVELS.Intro. by Harrison, Insko, Luebke.
Status: Ref To Com On Rules, Calendar, and Operations of the House (House Action) (Apr 6 2015)
Bill History:
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Thu, 2 Apr 2015 House: Filed(link is external)
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Mon, 6 Apr 2015 House: Passed 1st Reading(link is external)
H 549
Bill Summaries:
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Bill H 549 (2015-2016)Summary date: Apr 2 2015 - View Summary
View: All Summaries for Bill