A BILL TO BE ENTITLED
AN ACT to modify the apportionment formula for income tax by eliminating the double weighting of the sales factor.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 105‑130.4(i) reads as rewritten:
"(i)	All apportionable income of corporations other than public utilities, excluded corporations, and qualified capital intensive corporations shall be apportioned to this State by multiplying the income by a fraction, the numerator of which is the property factor plus the payroll factor plus the sales factor, and the denominator of which is three. If one of the factors does not exist, the denominator of the fraction is the number of existing factors.
SECTION 2.  This act is effective for taxable years beginning on or after January 1, 2011.