AN ACT TO EXEMPT RETIREMENT INCOME OF GOVERNMENT EMPLOYEES.
Amends GS 105-153.5(b), which provides permitted deductions from a taxpayer's adjust 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, 2023.
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