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NC H490

Bill

Official Source

Status

Introduced

3/27/2023

Primary Sponsor

John Bell

Click for details

Origin

House of Representatives

2023-2024 Session

AI Summary

  • Allows North Carolina individual income tax deduction for all overtime compensation paid under sections 206 and 207 of the Fair Labor Standards Act
  • Allows individual income tax deduction for bonus pay up to $2,500 per year
  • Effective for taxable years beginning on or after January 1, 2023
  • Amends G.S. 105-153.5(b) by adding two new tax deduction subdivisions

Legislative Description

Tax Deduction for Overtime and Bonus Pay

Individual Income

Last Action

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

3/28/2023

Committee Referrals

Finance3/28/2023

Full Bill Text

No bill text available