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NC S896
Bill
AI Summary
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Repeals Section 42.2 of S.L. 2021-180, which previously established a phaseout schedule for North Carolina's corporate income tax.
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Maintains the corporate income tax at its current rate by eliminating the planned reduction.
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Appropriates $50,000 from the General Fund to the Department of Revenue for notifying corporate taxpayers of the rate change.
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Becomes effective upon enactment into law.
Legislative Description
Eliminate Phaseout of Corporate Income Tax
Appropriations
Last Action
Ref To Com On Rules and Operations of the Senate
5/27/2022
Committee Referrals
Rules and Operations of the Senate5/27/2022
Full Bill Text
No bill text available