summary
Introduced
03/27/2023
03/27/2023
In Committee
03/28/2023
03/28/2023
Crossed Over
Passed
Dead
12/13/2024
12/13/2024
Introduced Session
2023-2024 Session
Bill Summary
AN ACT TO ALLOW AN INDIVIDUAL INCOME TAX DEDUCTION FOR OVERTIME PAY AND FOR BONUS PAY UP TO TWO THOUSAND FIVE HUNDRED DOLLARS.
AI Summary
This bill allows individual taxpayers in North Carolina to deduct from their state income taxes the amount they receive in overtime compensation, as well as up to $2,500 in bonus pay, as per the federal Fair Labor Standards Act. The bill is effective for tax years beginning on or after January 1, 2023.
Committee Categories
Budget and Finance
Sponsors (8)
John Bell (R)*,
Jennifer Capps Balkcom (R),
John Faircloth (R),
Donnie Loftis (R),
Jarrod Lowery (R),
Ben Moss (R),
Bill Ward (R),
Matthew Winslow (R),
Last Action
Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House (on 03/28/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ncleg.gov/BillLookUp/2023/H490 |
| BillText | https://www.ncleg.gov/Sessions/2023/Bills/House/PDF/H490v1.pdf |
| BillText | https://www.ncleg.gov/Sessions/2023/Bills/House/PDF/H490v0.pdf |
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