North Carolina Senate bill in Session 2025.
Status: in_committee. Latest action: March 20, 2025.
NC Breakthrough Act.
Reenacts Article F of GS Chapter 105, pertaining to research and development, and modifies it as follows. Changes the definition of related person to a person described in one of the relationships set forth in Section 267(b) or 707(b) of the IRS Code. Modifies GS 105-129.51 (taxpayer standards) as follows. Instructs that a taxpayer is eligible for a credit under the Article in a development tier two or three area only if the taxpayer satisfies a wage standard. Specifies that no wage standard is required if the activity occurs in a development tier one area. Sets the following criteria for the wage standard:
| Date | Event | Detail |
|---|---|---|
| 2025-03-19 | Introduced | Bill introduced |
| 2025-03-20 | Status | in_committee |
| 2025-03-20 | Latest Action | Ref To Com On Rules and Operations of the Senate |