Bill Summary for H 711 (2025-2026)

Printer-friendly: Click to view
Bill: RECOVERY SUPPORT VIA REVENUE STABILIZATION.

Summary date: 

Apr 4 2025

Bill Information:

View NCGA Bill Details2025-2026 Session
House Bill 711 (Public) Filed Wednesday, April 2, 2025
AN ACT TO REPEAL THE CORPORATE INCOME TAX PHASEOUT.
Intro. by Lopez, Rubin, T. Brown, Ager.

View: All Summaries for BillTracking:

Bill summary

Includes whereas clauses.

Amends GS 105-130.3 by removing the phase out of the corporate income tax that was to happen from 2025-2029, instead setting the tax rate at 2.25%. Effective for taxable years beginning on or after January 1, 2026.