NC H1076

Restores the North Carolina earned income tax credit under section 32 of the federal tax code, which had expired after 2013.

Increases the state credit to 10% of the federal earned income tax credit amount (previously capped at 5% for most years and 4.5% for 2013).

Makes the credit refundable, allowing taxpayers to receive a refund if the credit exceeds their tax liability for the year.

Applies to nonresidents and part-year residents by reducing the credit through an apportionment calculation.

Effective for taxable years beginning on or after January 1, 2016, with the credit repealed for taxable years beginning on or after January 1, 2020.