A BILL TO BE ENTITLED
AN ACT to impose a temporary income tax surtax.
The General Assembly of North Carolina enacts:
SECTION 1.  Part 1 of Article 4 of Chapter 105 of the General Statutes is amended by adding a new section to read:
"§ 105-130.3A.  Surtax.
In addition to the income tax imposed in G.S. 105‑130.3, every taxpayer required to file a return under this Part must pay an income tax surtax equal to five percent (5%) of the tax payable by the taxpayer under G.S. 105‑130.3 for the taxable year. This surtax is due at the time prescribed for filing income tax returns under this Part."
SECTION 2.  Part 2 of Article 4 of Chapter 105 of the General Statutes is amended by adding a new section to read:
"§ 105‑134.2A. Surtax.
In addition to the individual income tax imposed in G.S. 105‑134.2, every taxpayer required to file a return under this Part with taxable income in excess of the amount listed in this section must pay an income tax surtax equal to five percent (5%) of the tax payable by the taxpayer under G.S. 105‑134.2 for the taxable year. This surtax is due at the time prescribed for filing income tax returns under this Part.
	Filing Status	Amount
	Married, filing jointly	$100,000
	Head of Household	80,000
	Single	60,000
	Married, filing separately	50,000".
SECTION 3.  This act is effective for taxable years beginning on or after January 1, 2003, and expires for taxable years that begin on or after January 1, 2005. Notwithstanding G.S. 105‑163.15 and G.S. 105‑163.41, no addition to tax may be made under those statutes for a taxable year beginning on or after January 1, 2003, and before January 1, 2004, with respect to an underpayment of income surtax to the extent the underpayment was created or increased by this act.