House committee substitute makes the following changes to 1st edition. Changes effective date of act to taxable years beginning on or after January 1, 2014 (was, on or after January 1, 2013). Makes technical changes.
INCREASE CHARITABLE CONTRIBUTION DEDUCTION.
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| View NCGA Bill Details(link is external) | 2011-2012 Session |
TO INCREASE THE LIMITS ON CORPORATE INCOME TAX DEDUCTIONS FOR CHARITABLE CONTRIBUTIONS IN CONFORMANCE WITH THE INTERNAL REVENUE CODE.Intro. by Moffitt, Brawley, Stam, Setzer.
Status: Ref To Com On Finance (Senate Action) (Jun 15 2011)
Bill History:
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Tue, 3 May 2011 House: Filed(link is external)
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Wed, 4 May 2011 House: Passed 1st Reading(link is external)
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Wed, 4 May 2011 House: Ref To Com On Finance(link is external)
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Tue, 14 Jun 2011 House: Reptd Fav Com Substitute(link is external)
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Tue, 14 Jun 2011 House: Cal Pursuant Rule 36(b)(link is external)
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Tue, 14 Jun 2011 House: Placed On Cal For 6/14/2011(link is external)
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Tue, 14 Jun 2011 House: Passed 2nd & 3rd Reading(link is external)
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Wed, 15 Jun 2011 Senate: Rec From House(link is external)
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Wed, 15 Jun 2011 Senate: Passed 1st Reading(link is external)
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Wed, 15 Jun 2011 Senate: Ref To Com On Finance(link is external)
H 886
Bill Summaries:
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Bill H 886 (2011-2012)Summary date: Jun 14 2011 - View Summary
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Bill H 886 (2011-2012)Summary date: May 3 2011 - View Summary
Amends GS 105-130.9, as title indicates, to allow a deduction of 10% (currently, 5%) of a corporation’s net income for charitable contributions, as defined. Specifies that any unused portion of a deduction may be carried forward for the next succeeding five years (currently, carryover is not allowed). Makes a conforming change. Effective for taxable years beginning on or after January 1, 2013.
View: All Summaries for Bill