NC S1234

Requires the Department of Revenue Secretary to prepare and publish a report by March 1 of each odd-numbered year analyzing the overall incidence of income tax, sales and excise taxes, and property tax.

Mandates the Secretary provide impact analysis reports to finance committee chairs within 15 days of request for bills that would increase, decrease, or redistribute tax by more than $20,000,000.

Requires tax incidence reports to present information on tax burden distribution across overall income distribution and broken down by income quintiles using a systemwide incidence measure.

Specifies reports must use the broadest measure of economic income available for which reliable data exists.

Becomes effective January 1, 2011.