Bill Summary for H 642 (2013-2014)

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Bill: LOWER CORPORATE INCOME TAX RATE.

Summary date: 

Apr 9 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
House Bill 642 (Public) Filed Tuesday, April 9, 2013
A BILL TO BE ENTITLED AN ACT TO LOWER THE CORPORATE INCOME TAX RATE.
Intro. by Conrad, Jeter, Moffitt, Murry.

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Bill summary

Amends GS 105-130.3 to set the income tax on all C Corporations at 4.9%. Effective for taxable years beginning on or after January 1, 2013.

Amends GS 115C-546.1 to change the amount remitted to the Public School Building Capital Fund each quarter to 5/49 of the net collections. Effective July 1, 2013, and applies to the quarter ending September 30, 2013.