Allows corporations less than five years old and with a net income under $5,000 to defer income taxes for one year.

The North Carolina Right to Start Act allows corporations less than five years old and with a net income under $5,000 to defer income taxes for one year. The act also encourages state agencies to use in-state contractors who have been in operation for less than five years. The Department of Administration must collect and report data on the use of these contractors to the General Assembly, including the number and total dollar amount of state contracts awarded to such contractors, and the percentage of total contracts and dollar amounts awarded to them.

Allows corporations less than five years old and with a net income under $5,000 to defer income taxes for one year.

The North Carolina Right to Start Act allows corporations less than five years old and with a net income under $5,000 to defer income taxes for one year. The act also encourages state agencies to use in-state contractors who have been in operation for less than five years. The Department of Administration must collect and report data on the use of these contractors to the General Assembly, including the number and total dollar amount of state contracts awarded to such contractors, and the percentage of total contracts and dollar amounts awarded to them.