Annual adjustments to tax laws near passage

The Associated Press

0 Comments | Leave a Comment

RALEIGH — North Carolina lawmakers are closer to passing annual tax law changes that also reaffirms that a credit designed to help the working poor will expire next year.

The state Senate gave tentative approval Tuesday to a House bill that runs every year to conform or differentiate state tax law to federal changes. The bill adjusts the state's version of the federal Earned Income Tax Credit slightly but doesn't change a previous decision to end the credit, which allows families to collect checks if their credit exceeds what they owe in taxes.

Senators voted mostly along party lines for the bill after a Democratic amendment dealing largely with mortgage insurance premiums and business taxes was defeated.

The bill heads to Gov. Pat McCrory if the Senate approves it again Wednesday.

Add comment

Login or register to post comments
Sponsored Links
Tax Laws
Find Tax Laws Local Attorneys - Start in Seconds!
RequestLegalHelp.com/Tax-Laws

Top Rated Tax Preparers
Need Top Rated Local Tax Preparers? Browse Listings on YellowPages.com
yellowpages.com

FASTER Systems, LLC
Estate tax, gift tax and fiduciary accounting software.
www.fastersystems.com

Worked in Australia?
Quick & Cheap Aussie Tax Back in 7 days. Safe & Secure Online Service.
www.expresstaxback.com.au