Bill Summaries: H1117 (2011-2012 Session)

Tracking:
  • Bill H 1117 (2011-2012)
    Summary date: May 23 2012 - View summary

    Amends the definition for small business in GS 105-129.50(10) to include businesses with annual receipts up to $2.5 million (was, up to $1 million). Amends GS 105-129.55(a) to increase the tax credit allowed to small businesses to 5% (was, 3.25%) and the tax credit allowed for university research to 25% (was, 20%). Effective for tax years beginning on or after January 1, 2013.
    Business and Commerce, Tax
    GS 105

© 2022 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.