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NC H549
Bill
Status
Introduced
4/2/2015
Primary Sponsor
Cecil Brockman
Click for details
AI Summary
- Restores a progressive tax rate structure for North Carolina personal income tax, replacing the flat 5.75% rate with a two-tier system effective January 1, 2015
- Applies 5.75% tax rate on North Carolina taxable income up to $1,000,000
- Applies 7.75% tax rate on North Carolina taxable income above $1,000,000
- Amends G.S. 105-153.7(a) to implement the tiered tax bracket system
Legislative Description
Tax Restoration Act
Last Action
Ref To Com On Rules, Calendar, and Operations of the House
4/6/2015
Committee Referrals
Rules, Calendar, and Operations of the House4/6/2015
Full Bill Text
No bill text available