Repeals the scheduled phaseout of the corporate income tax and sets the rate at five percent.

The North Carolina S943, known as the Kids Over Corporations Act, repeals the scheduled phaseout of the corporate income tax and sets the tax rate at five percent. This bill aims to ensure that corporations contributing to the state's workforce, infrastructure, and public systems continue to contribute to their maintenance. The tax applies to C Corporations doing business in North Carolina, with S Corporations exempt. The tax rate will decrease incrementally until it reaches zero after 2029.

Repeals the scheduled phaseout of the corporate income tax and sets the rate at five percent.

The North Carolina S943, known as the Kids Over Corporations Act, repeals the scheduled phaseout of the corporate income tax and sets the tax rate at five percent. This bill aims to ensure that corporations contributing to the state's workforce, infrastructure, and public systems continue to contribute to their maintenance. The tax applies to C Corporations doing business in North Carolina, with S Corporations exempt. The tax rate will decrease incrementally until it reaches zero after 2029.