North CarolinaSB 3512025-2026 SessionSenate

AN ACT TO ALLOW CORPORATIONS LESS THAN FIVE YEARS OLD AND HAVING A NET INCOME OF LESS THAN FIVE THOUSAND DOLLARS TO DEFER INCOME TAXES FOR ONE YEAR AND TO PROVIDE THAT STATE AGENCIES ARE ENCOURAGED TO USE IN-STATE CONTRACTORS WHO HAVE BEEN IN OPERATION FOR LESS THAN FIVE YEARS AND THE DEPARTMENT OF ADMINISTRATION SHALL COLLECT AND REPORT DATA ON THE USE OF THOSE CONTRACTORS TO THE GENERAL ASSEMBLY.

Sponsored By: Jay J. Chaudhuri (Democratic)

In Committee

COMMERCECONTRACTSCORPORATIONS, FOR-PROFITDEBTOR & CREDITORPUBLICPURCHASINGSMALL BUSINESSTAX RETURNSTAXATIONTAXES, CORPORATE INCOMETAX COLLECTION

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Jay J. Chaudhuri

    Democratic • Senate

Cosponsors

  • Gale Adcock

    Democratic • Senate

  • Woodson Bradley

    Democratic • Senate

  • Lisa Grafstein

    Democratic • Senate

  • Mujtaba A. Mohammed

    Democratic • Senate

  • Natalie S. Murdock

    Democratic • Senate

  • DeAndrea Salvador

    Democratic • Senate

  • Kandie D. Smith

    Democratic • Senate

  • Caleb Theodros

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Ref To Com On Rules and Operations of the Senate

    3/20/2025Senate
  2. Passed 1st Reading

    3/20/2025Senate
  3. Filed

    3/19/2025Senate

Bill Text

Related Bills

Back to State Legislation