Tax Law Changes - North Carolina Department Of Revenue - 2012 Page 11
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41are the amount by which the taxpayer‟s charitable contributions for the taxable year that
would have been deductible under section 170 of the Code exceed 2% of the taxpayer‟s
adjusted gross income.
(Effective for taxable years beginning on or after January 1, 2012; HB 200, s. 31A.1.(e),
S.L. 11-145.)
G.S. 105-151.28(d) – Credit for Premiums Paid on Long-term Care Insurance: This
subsection was amended to update the sunset. The credit for premiums paid on long-
term care insurance was scheduled to expire for taxable years beginning on or after
January 1, 2013. The credit now expires for taxable years beginning on or after
January 1, 2014.
(Effective June 20, 2012; HB 1025, s. 7, S.L. 12-36.)
G.S. 105-151.29(k) – Credit for Qualifying Expenses of a Production Company:
This subsection was amended to update the sunset. The credit for qualifying expenses
of a production company was scheduled to expire for qualifying expenses occurring on
or after January 1, 2014. This credit now expires for qualifying expenses occurring on
or after January 1, 2015.
(Effective July 17, 2012; SB 847, s. 79.10(b), S.L. 12-194.)
G.S. 105-151.30(f) – Credit for Recycling Oyster Shells: This subsection was
amended to update the sunset. The credit for recycling oyster shells was scheduled to
expire for taxable years beginning on or after January 1, 2013. This credit now expires
for taxable years beginning on or after January 1, 2014.
(Effective June 20, 2012; HB 1025, s. 6.(b), S.L. 12-36.)
G.S. 105-151.31(c) – Earned Income Tax Credit: This subsection was amended to
update the sunset. The earned income tax credit was scheduled to expire for taxable
years beginning on or after January 1, 2013. This credit now expires for taxable years
beginning on or after January 1, 2014.
(Effective June 20, 2012; HB 1025, s. 8, S.L. 12-36.)
G.S. 105-151.32(c) – Credit for Adoption Expenses: This subsection was amended
to update the sunset. The credit for adoption expenses was scheduled to expire for
taxable years beginning on or after January 1, 2013. This credit now expires for
taxable years beginning on or after January 1, 2014.
(Effective June 20, 2012; HB 1025, s. 9, S.L. 12-36.)
G.S. 105-152(e) – Innocent Spouse Relief on Joint Income Tax Returns: This
subsection was amended to clarify that relief is provided to a taxpayer who files as
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