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NC S211
Bill
Status
Introduced
2/27/2025
Primary Sponsor
Mujtaba Mohammed
Click for details
AI Summary
- Reenacts North Carolina's state Earned Income Tax Credit (EITC) at 5% of the federal EITC amount claimed under Internal Revenue Code Section 32
- The credit is refundable, meaning taxpayers receive the excess as a refund if the credit exceeds their tax liability
- Nonresidents and part-year residents must prorate the credit amount based on their North Carolina income fraction
- Extends the sunset date from January 1, 2014 to January 1, 2028, effectively restoring a credit that expired over a decade ago
- Effective for taxable years beginning on or after January 1, 2025
Legislative Description
Reenact the Earned Income Tax Credit
Public
Last Action
Ref To Com On Rules and Operations of the Senate
3/3/2025
Committee Referrals
Rules and Operations of the Senate3/3/2025
Full Bill Text
No bill text available