Allows income tax deduction for overtime compensation, up to $2,500 of bonus pay, and tips in North Carolina.
This bill modifies North Carolina's tax code to allow taxpayers to deduct overtime compensation, up to $2,500 of bonus pay, and tips from their taxable income. Each spouse in a married couple filing jointly can separately claim these deductions. The changes apply to taxable years beginning on or after January 1, 2025.
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