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NC S4
Bill
AI Summary
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Allows taxpayers to deduct retirement income from State, local, or federal government retirement plans when calculating North Carolina taxable income if the retiree completed at least 20 years of government employment.
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Extends the tax deduction to amounts exempt from tax under court order settlements in three specific cases: Bailey v. State, Emory v. State, and Patton v. State.
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Effective for taxable years beginning on or after January 1, 2024.
Legislative Description
Eliminate Tax on Gov't Retirees
Local Government; Personnel; Public; Retirement; State Employees; Tax Exemptions; Taxation; Taxes
Last Action
Ref To Com On Rules and Operations of the Senate
1/26/2023
Committee Referrals
Rules and Operations of the Senate1/26/2023
Full Bill Text
No bill text available