North Carolina - Session 2025
Title: Small Business Capital Improvement Account.
Amends GS 105-153.5 (modifications to adjusted gross income) as title indicates. Adds to subsection (b) (other deductions) new subdivision (7a) allowing small businesses, as defined, to deduct a percentage of revenue used for capital expenditures, also defined, the percentage of which is determined by the amount of adjusted gross income. Adds to subsection (c) (additions to adjusted gross income) new subdivision (7a) requiring a taxpayer to include the amount deducted in a prior taxable year pursuant to (b)(7a) if the amount was withdrawn and not used to pay for capital improvements.
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| Date | Event | Detail |
|---|---|---|
| 2025-03-25 | Introduced | Bill introduced |
| 2025-03-26 | Status | in_committee |
| 2025-03-26 | Latest Action | Ref To Com On Rules and Operations of the Senate |
| Bill | Title | Status |
|---|---|---|
| HJR 1016 | Amend Adjournment Resolution. | in_committee |
| SB 449 | Continuing Budget Operations Part IV. | enacted |
| SB 245 | Expand Remote Drivers License Services. | enacted |
| HB 693 | Interstate Massage Compact. | in_committee |
| HB 268 | Additional Capital Appropriations. | in_committee |
| HB 389 | Continuing Budget Operations Part III. | in_committee |
| HB 125 | Continuing Budget Operations. | enacted |
| HB 305 | Guilford County Sales Tax Distribution Mods. | enacted |