Bill > S695

This bill reenacts the Child Care Tax Credit, which allows individuals to claim a credit against their North Carolina state income tax for a percentage of employment-related expenses, such as childcare costs. The credit amount is based on the taxpayer's adjusted gross income and the age of the dependent, with higher credit percentages for lower-income taxpayers and for expenses related to younger dependents. The bill also specifies that the credit is subject to certain limitations, such as a maximum credit amount and a reduction for non-residents or part-year residents. The bill is effective for tax years beginning on or after January 1, 2023.

https://www.ncleg.gov/BillLookUp/2023/S695