NC S275

Reenacts North Carolina's earned income tax credit under G.S. 105-151.31, which was set to expire after taxable year 2013.

Sets the credit at 2.5% of the federal earned income tax credit amount for taxable year 2015, then 5% for all subsequent years.

Makes the credit refundable, allowing the Secretary to refund any excess credit that exceeds the taxpayer's tax liability for the year.

Extends the sunset date to January 1, 2019, allowing the credit to continue for taxable years 2015-2018 before expiring.

Applies to both resident and nonresident/part-year residents, with nonresidents required to reduce their credit proportionally based on their income allocation to North Carolina.