NC S763

Allows essential employees to deduct a percentage of income earned during March 28, 2020 to December 31, 2020 from North Carolina taxable income.

Defines "essential employee" as anyone working in a critical infrastructure sector identified by the Cybersecurity & Infrastructure Security Agency in its advisory list published March 28, 2020.

Provides a 50% deduction for the first $100,000 of qualifying income and a 70% deduction for income above $100,000.

Effective for taxable years beginning January 1, 2020 or later.