Loading chat...
NC S757
Bill
Status
Introduced
4/26/2016
Primary Sponsor
Valerie Jean Foushee
Click for details
AI Summary
- Reenacts North Carolina's earned income tax credit (EITC) as a percentage of the federal EITC claimed under section 32 of the Internal Revenue Code
- Sets the credit percentage at 2.5% for taxable year 2016 and 5% for all other taxable years
- Makes the credit refundable, allowing taxpayers to receive a refund if the credit exceeds their tax liability
- Applies to nonresident and part-year residents by reducing the credit amount through a fraction calculation based on days in the state
- Repeals the credit effective for taxable years beginning on or after January 1, 2020
Legislative Description
Reenact EITC
Last Action
Ref To Com On Finance
4/27/2016
Committee Referrals
Finance4/27/2016
Full Bill Text
No bill text available