Budget & Taxes (Business Taxes)

died · North Carolina · Senate Apr 29, 2026

SB 891: Small Business Investment Grant.

This North Carolina bill establishes a $250 million grant program to help small businesses recover from financial losses caused by the COVID-19 pandemic. To qualify, businesses must have had annual receipts of $8 million or less in 2019 and experienced at least a 25% drop in sales tax collections in 2020 compared to the previous year. Eligible recipients can receive a one-time payment of up to $250,000, which is capped at the amount of their verified sales tax reduction. The law requires businesses to remain open for at least six months after receiving the funds, with any unspent portion subject to repayment if operations cease prematurely.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $250M in grants to support small businesses, directly advancing the appropriations and budgeting topic.95% confidence

Sub-Topics Business Taxes Sales Tax Tags Small Business

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in committee · North Carolina · House Jun 30, 2026

HB 1213: Protect Taxpayers and Local Governments.

HB 1213 removes tax exemptions for data centers in North Carolina, meaning these facilities will no longer be exempt from state sales and use taxes. The bill directly affects data center operators and the businesses that purchase equipment for them, requiring them to pay applicable taxes on new purchases starting July 1, 2026. By repealing specific sections of state tax law, the legislation ensures that data centers contribute to state revenue in the same way other commercial entities do.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill removes tax exemptions for data centers, closing a loophole to ensure they contribute to state revenue like other commercial entities.90% confidence ✗ TechnologyOpposes TechnologyBill removes tax exemptions for data centers, increasing operational costs and potentially hindering technology infrastructure growth.85% confidence

Sub-Topics Business Taxes Revenue Sales Tax

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in committee · North Carolina · Senate Apr 30, 2026

SB 943: Kids Over Corporations Act.

This bill, titled the Kids Over Corporations Act, would stop the scheduled elimination of the corporate income tax in North Carolina and instead set a permanent rate of five percent. It directly affects C corporations operating in the state by requiring them to pay this tax, while S corporations remain exempt from the levy. The law includes a temporary phase-in schedule where the tax rate starts at 2.25% in 2025 and gradually decreases to zero after 2029, though the bill's title suggests a permanent five percent rate. The legislation applies to taxable years beginning on or after January 1, 2026, and aims to ensure corporations contribute to public services funded by state revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes a permanent corporate income tax rate to fund state budgets and prevent revenue loss.95% confidence

Sub-Topics Business Taxes Income Tax Revenue

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in committee · North Carolina · Senate Apr 22, 2026

SB 790: Small Business Capital Improvement Account.

This bill creates a tax incentive for small businesses in North Carolina by allowing them to deduct contributions made to a special savings account designated for property improvements. To qualify, a business must have gross receipts under $10 million and deposit funds into a federally insured bank account specifically for projects that add value to real estate, extend its useful life by at least 10 years, or adapt it for new uses. The deduction is calculated as a percentage of the business's income, ranging from 5% for deposits up to $1 million down to 1% for amounts up to $3 million, and the benefit is only available for taxable years starting on or after January 1, 2026. If any money withdrawn from this account is not used for the specified improvements, the amount must be added back to the business's taxable income in the year of withdrawal.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax incentives for small businesses, offering deductions for capital improvements, which supports business growth and economic activity.85% confidence

Sub-Topics Business Taxes Tax Incentives Tags Small Business

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died · North Carolina · Senate Apr 30, 2026

SB 900: Small Business Investment Grant.

This North Carolina bill establishes the COVID-19 Small Business Recovery Program to provide financial assistance to small businesses that suffered significant economic losses due to the pandemic. To qualify, a business must have had annual receipts of $8 million or less in 2019 and experienced at least a 25% drop in sales tax collections in 2020 compared to 2019. The program offers one-time grants of up to $250,000, with the total funding capped at $250 million, and requires recipients to keep their operations running for six months to avoid having to repay a portion of the grant.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $250M in grants to small businesses, directly increasing funding for economic recovery programs.90% confidence

Sub-Topics Business Taxes Sales Tax Tags Small Business

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in committee · North Carolina · Senate May 4, 2026

SB 1016: Fair Share for Public Schools Act.

This bill introduces a new 7% state income tax specifically on earnings that exceed $1 million. The revenue generated from this tax, after deducting administrative costs, will be sent directly to the Public School Fund to support local schools. The law applies to individual taxpayers and is scheduled to take effect for tax years starting on or after January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill introduces new revenue to fund public schools, directly strengthening education budget and funding.95% confidence ✓ EducationSupports EducationBill creates a new tax to generate revenue specifically for the Public School Fund, directly increasing funding for K-12 schools.95% confidence

Sub-Topics Business Taxes Income Tax State Budget School Funding

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signed · North Carolina · Senate May 21, 2026

SB 1080: Lower Taxes for All NC.

SB 1080 proposes a constitutional amendment to cap North Carolina's state income tax rate at a maximum of 3.5%. If approved by voters in the November 2026 election, this change would prevent the legislature from raising the income tax rate higher than that threshold in the future. The bill applies to taxable years beginning on or after January 1, 2027, and requires a majority vote in favor to become law.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill caps state income tax rate, providing tax relief and limiting future tax increases, which aligns with supporting budget/tax policies.95% confidence

Sub-Topics Business Taxes Income Tax

in committee · North Carolina · Senate Apr 29, 2026

SB 877: Repeal Service Tax.

This bill proposes to eliminate the service tax in North Carolina, which currently applies to various repair, maintenance, and installation fees. By repealing this tax, the legislation directly affects businesses that provide these services and the consumers who pay for them. The bill also includes specific changes to how taxes are calculated for bundled transactions and services related to real property, such as home renovations. These adjustments aim to clarify tax rules for contractors and ensure that services are taxed consistently with other sales.

Topics ✓ Budget & TaxesSupports Budget & TaxesRepealing a service tax reduces the tax burden on businesses and consumers, providing direct tax relief and lowering costs for essential services like home repairs.90% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · North Carolina · Senate Apr 30, 2026

SB 924: Reenact the Earned Income Tax Credit.

This North Carolina legislation reinstates a state tax credit for individuals who claim the federal Earned Income Tax Credit. Eligible taxpayers would receive a credit equal to five percent of their federal EITC amount, which is refundable if it exceeds their state tax liability. The bill takes effect for tax years beginning in 2026 and includes a sunset provision that repeals the credit for tax years starting on or after January 1, 2029.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill reinstates a refundable tax credit for low-to-moderate income individuals, providing direct tax relief and financial support.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides a refundable tax credit for low-income workers, effectively increasing their take-home pay and supporting worker economic stability.85% confidence

Sub-Topics Business Taxes Income Tax Tax Credits

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died · North Carolina · Senate Mar 26, 2025

SB 583: Lead. Invest. Families/Foster Teen Act (LIFT).

SB 583, the Lead. Invest. Families/Foster Teen Act (LIFT), creates a program providing $1,000 monthly cash payments to four specific groups: homeless high school seniors (grade 12), expectant or new mothers with children under 18 months, natural disaster survivors qualifying for FEMA aid, and young adults exiting foster care (aged 16-27). Payments begin April 1, 2026, and continue until April 1, 2035, with disaster survivors receiving payments for 12 months post-disaster. The program is funded through a new LIFT Fund established within the Department of Health and Human Services, which receives state appropriations and other designated funds, and payments are exempt from state income tax and do not affect eligibility for other public benefits. The bill also modifies the corporate income tax rate to offset program costs, aligning the effective tax rate for corporations more closely with individual taxpayers.

Topics ✓ Budget & TaxesSupports Budget & TaxesFunds $1,000 monthly payments for vulnerable groups via state budget, increasing public spending on social services per Taxation subject.92% confidence ✓ EducationSupports EducationTargets homeless high school seniors (secondary education) and foster youth (16-27), providing financial stability to improve educational access and retention for vulnerable students.85% confidence ✓ HousingSupports HousingTargets homelessness via $1,000 monthly payments to homeless high school seniors (directly addressing housing instability) and aligns with HOMELESS subject category.95% confidence

Sub-Topics Business Taxes Income Tax K-12 Education Homelessness

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