Bill Summaries: H27 (2015-2016 Session)

Tracking:
  • Bill H 27 (2015-2016)
    Summary date: Jan 28 2015 - View summary

    Re-enacts GS 105-151.31, the "Earned Income Tax Credit," as it existed immediately before its expiration. Requires an individual who is a nonresident or part-year resident who claims the credit under thisstatute to reduce the amount of the credit by multiplying it by the appropriate fraction: (1) for the 2015 taxable year the percentage is 2.5% and (2) for all other taxable years, the percentage is 5%.

    Provides that thisstatute is repealed for taxable years beginning on or after January 1, 2019.

    Effective for taxable years beginning on or after January 1, 2015.
    Government, Tax
    GS 105

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