Recovery Support Via Revenue Stabilization.
HB 711 phases out North Carolina's corporate income tax for C Corporations over time, reducing the rate from 2.25% in 2025 to 0% after 2029. The bill directly affects C Corporations operating in North Carolina, which would pay progressively lower taxes until the tax is eliminated entirely. Key provisions include specific tax rates for taxable years beginning in 2025 (2.25%), 2026 (2%), 2028 (1%), and 0% after 2029. The bill is effective for tax years starting January 1, 2026, and does not change tax treatment for S Corporations.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2025
Committee Review
Floor Vote
Governor
Introduced Apr 2, 2025
Last action Apr 3, 2025
Maddy AI version diff · 1 comparison
What changed between versions
Filed
→
Edition 1
·
3 edits
MINOR
The bill's header information was updated to reflect additional sponsors (Rubin, T. Brown, and Ager) and corrected the filing date from April 2 to April 3, 2025. The bill number identifier was also changed from a draft code to the final version designation. These are administrative updates that do not alter the bill's substantive policy content.
TECHNICAL
Added three additional sponsors (Representatives Rubin, T. Brown, and Ager) to the bill's sponsor list, expanding the coalition of legislators supporting the measure.
Updated the filing date from April 2, 2025 to April 3, 2025, reflecting the official referral date to House Rules, Calendar, and Operations.
Changed the bill identifier from draft code DRH10337-NIf-106 to final version H711-v-1, indicating the bill has been formally filed and is no longer in draft status.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Apr 3, 2025
Committee
Ref To Com On Rules, Calendar, and Operations of the House
lower
Apr 2, 2025
Introduced
Filed
lower
3 primary · 7 co-sponsors
Sponsors
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