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NC H693

Bill

Official Source

Status

Introduced

4/10/2019

Primary Sponsor

Keith Kidwell

Click for details

Origin

House of Representatives

2019-2020 Session

AI Summary

  • Adds a new deduction to North Carolina income tax law allowing taxpayers to deduct unreimbursed trade or business expenses from adjusted gross income
  • Deductions calculated according to Section 162 of the Internal Revenue Code, subject to the limitation under Section 67(a) of the Code
  • Applies to taxable years beginning on or after January 1, 2019
  • Amends G.S. 105-153.5(b) by adding item (14) to the list of permitted deductions

Legislative Description

Unreimbursed Business Expenses Tax Deduction

Last Action

Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House

4/11/2019

Committee Referrals

Finance4/11/2019

Full Bill Text

No bill text available