The North Carolina General Assembly ended its 2022 short session on July 1. While the legislature is scheduled to reconvene on July 26, no additional tax legislation is expected to be considered....more
7/8/2022
/ Captive Insurance Company ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Franchise Taxes ,
General Assembly ,
Income Taxes ,
Payroll Taxes ,
Pending Legislation ,
Property Tax ,
Sales Tax ,
State and Local Government ,
State Budgets ,
State Taxes ,
Wildlife Protection
On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more
11/19/2021
/ Corporate Taxes ,
General Assembly ,
Governor Cooper ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Pass-Through Entities ,
Popular ,
Property Tax ,
Sales Tax ,
State Budgets ,
State Legislatures ,
State Taxes ,
Tax Credits
The North Carolina General Assembly concluded the regular business of its 2020 session on Friday, June 26, 2020. While the session will not formally adjourn until September 3, 2020, the only business expected to be considered...more
House Bill 1080, containing the Revenue Laws Study Committee’s recommended tax changes, was introduced in the General Assembly on May 14, 2020. The bill has passed its first reading and is now in committee. This Alert...more
The North Carolina General Assembly convened on April 28, 2020, and a number of bills immediately were introduced to address various aspects of the coronavirus (COVID-19) crisis. Several of these bills included important...more
This Alert summarizes the more significant tax provisions enacted by the North Carolina General Assembly in 2019. The most important tax changes were originally included in House Bill 966, the 2019 Appropriations Act (the...more
11/12/2019
/ Apportionment ,
Appropriations Bill ,
Corporate Taxes ,
Department of Revenue ,
Digital Marketplace ,
E-Commerce ,
Franchise Taxes ,
General Assembly ,
Governor Vetoes ,
Income Taxes ,
Online Marketplace ,
Pending Legislation ,
Sales Tax ,
State Budgets ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions
On June 1, 2018, the General Assembly ratified and sent to the Governor the Appropriations Act of 2018 (the Act). The Act includes numerous changes to North Carolina’s tax laws....more
On Tuesday, May 8th, the General Assembly’s Revenue Laws Study Committee released a revised version of its draft tax bill intended for introduction in the legislature’s upcoming short session. The original version of the...more
A previous Tax Alert (June 20, 2017) summarized the tax provisions in the North Carolina 2017 budget bill (the Appropriations Act of 2017) as passed by the General Assembly. The Governor later vetoed the budget bill, but the...more
The General Assembly released today the Proposed Conference Committee Substitute (the “Conference Bill”) for Senate Bill 257, the state budget bill. The Conference Bill is expected to be approved by the General Assembly later...more
This Alert summarizes the major tax provisions included in legislation passed by the 2015-2016 North Carolina General Assembly in its short session, which concluded earlier this month.
The most widely discussed tax...more
7/12/2016
/ Corporate Taxes ,
Franchise Taxes ,
General Assembly ,
Governor McCrory ,
New Legislation ,
Pending Legislation ,
Property Tax ,
Protecting Americans from Tax Hikes (PATH) Act ,
Sales Tax ,
State Taxes ,
Tax Deductions ,
Tax Refunds
In the last two years, the General Assembly has enacted major changes to North Carolina’s corporate income tax law, including significant rate reductions, elimination of numerous incentive credits and replacement of North...more
North Carolina’s General Assembly is continuing the overhaul of the State’s tax system that it began in 2013. That year, the General Assembly slashed corporate and individual tax rates, eliminated many income tax deductions...more
9/25/2015
/ Corporate Taxes ,
Franchise Taxes ,
General Assembly ,
Income Taxes ,
Internal Revenue Code (IRC) ,
New Legislation ,
Property Tax ,
Proposed Legislation ,
Sales & Use Tax ,
Tax Credits ,
Tax Reform ,
Wage Statements