NC S682

Allows North Carolina taxpayers a 20% income tax deduction for amounts paid to other individuals for their medical expenses through a health care sharing organization.

Defines "health care sharing organization" as a nonprofit organization exempt from taxation under Internal Revenue Code section 501(c) that acts as a clearinghouse providing cost-sharing arrangements for members with medical expenses.

Deduction applies only when the taxpayer and recipient participate in the same health care sharing organization as members.

Effective for taxable years beginning on or after January 1, 2012.