Bill > H303

This bill seeks to repeal Section 42.2 of Session Law 2021-180, which appears to have previously established a phaseout of the corporate income tax in North Carolina. By repealing this section, the bill effectively stops the planned gradual reduction of corporate tax rates, maintaining the current corporate tax structure. The bill would become effective immediately upon becoming law. While the bill's title "Make Corporations Pay What They Owe" suggests an intent to ensure corporations continue to contribute their full tax obligations, the actual legislative text is brief and focused solely on reversing the previous tax phaseout provision. This suggests the bill aims to prevent further reductions in corporate tax rates that were previously scheduled.

Government Affairs

https://www.ncleg.gov/BillLookUp/2025/H303