GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
H	1
HOUSE BILL 1429
     

 
Short Title:	Support Education/New Upper-Income Tax Bracket.	()	
Sponsors:	Representative Luebke.	
Referred to:	Finance.	
May 9, 2001

A BILL TO BE ENTITLED
AN ACT TO support public education by raising revenue by CREATing A NEW TAX BRACKET FOR UPPER-INCOME INDIVIDUALS.

The General Assembly of North Carolina enacts:
SECTION 1.  It is the intent of the General Assembly that any increase to the General Fund as a result of this act be applied to the State's educational priorities.
SECTION 2.  G.S. 105‑134.2(a) reads as rewritten:
"(a)	A tax is imposed upon the North Carolina taxable income of every individual. The tax shall be levied, collected, and paid annually and shall be computed at the following percentages of the taxpayer's North Carolina taxable income.
(1)	For married individuals who file a joint return under G.S. 105‑152 and for surviving spouses, as defined in section 2(a) of the Code:
On the North Carolina taxable income up to twenty‑one thousand two hundred fifty dollars ($21,250), six percent (6%).
On the amount over twenty‑one thousand two hundred fifty dollars ($21,250) and up to one hundred thousand dollars ($100,000), seven percent (7%).
On the amount over one hundred thousand dollars ($100,000) and up to two hundred thousand dollars ($200,000), seven and seventy‑five one‑hundredths percent (7.75%).
On the amount over two hundred thousand dollars ($200,000), eight and one-half percent (8.5%).
(2)	For heads of households, as defined in section 2(b) of the Code:
On the North Carolina taxable income up to seventeen thousand dollars ($17,000), six percent (6%).
On the amount over seventeen thousand dollars ($17,000) and up to eighty thousand dollars ($80,000), seven percent (7%).
On the amount over eighty thousand dollars ($80,000) and up to one hundred sixty thousand dollars ($160,000), seven and seventy‑five one‑hundredths percent (7.75%).
On the amount over one hundred sixty thousand dollars ($160,000), eight and one-half percent (8.5%).
(3)	For unmarried individuals other than surviving spouses and heads of households:
On the North Carolina taxable income up to twelve thousand seven hundred fifty dollars ($12,750), six percent (6%).
On the amount over twelve thousand seven hundred fifty dollars ($12,750) and up to sixty thousand dollars ($60,000), seven percent (7%).
On the amount over sixty thousand dollars ($60,000) and up to one hundred twenty thousand dollars ($120,000), seven and seventy‑five one‑hundredths percent (7.75%).
On the amount over one hundred twenty thousand dollars ($120,000), eight and one-half percent (8.5%).
(4)	For married individuals who do not file a joint return under G.S. 105‑152:
On the North Carolina taxable income up to ten thousand six hundred twenty‑five dollars ($10,625), six percent (6%).
On the amount over ten thousand six hundred twenty‑five dollars ($10,625) and up to fifty thousand dollars ($50,000), seven percent (7%).
On the amount over fifty thousand dollars ($50,000) and up to one hundred thousand dollars ($100,000), seven and seventy‑five one‑hundredths percent (7.75%).
On the amount over one hundred thousand dollars ($100,000), eight and one-half percent (8.5%)."
SECTION 3.  This act is effective for taxable years beginning on or after January 1, 2002.