GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

S	1 

SENATE BILL 1337

Short Title:  Reduce Individual Income Tax.	(Public)

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Sponsors: Senators McDaniel; Ballantine, Page, McKoy, Carrington, Foxx, Kincaid, Clark, Ledbetter, Horton, Blust, Shaw, Blackmon, Little, East, Cochrane, Smith, Allran, Hartsell, Carpenter, Forrester, Davis, Webster, and Simpson.

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Referred to:  Finance.

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May 27, 1996

A BILL TO BE ENTITLED
AN ACT TO REPEAL THE INCREASE IN THE INDIVIDUAL INCOME TAX ENACTED IN 1991.
The General Assembly of North Carolina enacts:
Section 1.  G. S. 105-134.2(a) reads as rewritten:
"(a)	A tax is imposed upon the North Carolina taxable income of every individual. The tax shall be levied, collected, and paid annually and shall be computed at the following percentages of the taxpayer's North Carolina taxable income.
(1)	For married individuals who file a joint return under G.S. 105-152 and for surviving spouses, as defined in section 2(a) of the Code:
	On the North Carolina taxable income up to twenty-one thousand two hundred fifty dollars ($21,250), six percent (6%).
	On the amount over twenty-one thousand two hundred fifty dollars ($21,250), seven percent (7%).
	(2)	For heads of households, as defined in section 2(b) of the Code:
	On the North Carolina taxable income up to seventeen thousand dollars ($17,000), six percent (6%).
	On the amount over seventeen thousand dollars ($17,000), seven percent (7%).
	(3)	For unmarried individuals other than surviving spouses and heads of households:
	On the North Carolina taxable income up to twelve thousand seven hundred fifty dollars ($12,750), six percent (6%).
	On the amount over twelve thousand seven hundred fifty dollars  ($12,750), seven percent (7%).
	(4)	For married individuals who do not file a joint return under G.S. 105-152:
	On the North Carolina taxable income up to ten thousand six hundred twenty-five dollars ($10,625), six percent (6%).
	On the amount over ten thousand six hundred twenty-five dollars ($10,625), seven percent (7%).
	%)."
Sec. 2.  This act is effective for taxable years beginning on or after January 1, 1996.