NC S803

Establishes a tax credit of $2,000 per child for eligible individuals in North Carolina for taxable years beginning January 1, 2024 and later.

Eligible individuals include those who claim a federal adoption tax credit, provide foster care for a child for more than 270 days of the taxable year, or receive reimbursement for unlicensed kinship foster care for at least nine months.

Nonresident or part-year residents must reduce the credit amount by multiplying it by the applicable fraction under state tax law.

Spouses filing separate returns may each claim only one-half of the credit that would have been allowed on a joint return.