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NC H11
Bill
Status
Introduced
1/29/2025
Primary Sponsor
Harry Warren
Click for details
AI Summary
- Allows North Carolina taxpayers to deduct all overtime compensation (as defined by the Fair Labor Standards Act) from state taxable income
- Permits deduction of bonus pay up to $2,500, defined as cash awards for outstanding work, suggestions, or similar workplace dedication
- Exempts tips from state income tax for amounts required to be reported to employers under federal law
- Married couples filing jointly may each claim the overtime and bonus deductions separately
- Effective for taxable years beginning on or after January 1, 2025
Legislative Description
No Tax on Tips, Overtime, Bonus Pay
Public
Last Action
Re-ref Com On Finance
3/11/2025
Committee Referrals
Finance3/11/2025
Commerce and Economic Development2/3/2025
Rules, Calendar, and Operations of the House1/30/2025
Full Bill Text
No bill text available