Bill Summaries: H893 (2011-2012 Session)

Tracking:
  • Bill H 893 (2011-2012)
    Summary date: May 4 2011 - View summary

    Amends GS 105-134.2 to add a business entity exemption to the state’s individual income tax rate as computed in subsection (a) of GS 105-134.2. Provides that before a qualified business entity computes the tax in subsection (a), it may subtract $50,000 from state net income. Defines a qualified business entity as a business entity that is neither a publicly traded corporation nor an affiliate, as defined in GS 105-163.010, of a publicly traded corporation. Makes conforming and technical changes.
    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.