In the article “North Carolina Lawmakers React to Recent Federal Tax Changes,” Bloomberg Tax’s Andrew M. Ballard discusses the proposed North Carolina Tax bill that would result in the State conforming to select federal tax law changes but rejecting others. If the proposed legislation is signed into law, Smith Anderson Partner Bill Nelson told Bloomberg Tax, that it will be good news to some taxpayers and bad news for others across the State.
Bill weighs in on how these proposed changes could impact North Carolina taxpayers and noted that because of the way the State’s tax code is structured, North Carolina’s conforming to federal changes would have more of an impact on corporate than individual income tax liability.
Reproduced with permission. Published April 16, 2018. Copyright 2018 by The Bureau of National Affairs, Inc. (800-372-1033)