AN ACT to Reduce the income tax Rate for the State of North carolina.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 105‑153.7(a) reads as rewritten:

(a)      Tax. – A tax is imposed for each taxable year on the North Carolina taxable income of every individual. The tax shall be levied, collected, and paid annually. The tax is a percentage of the taxpayer's North Carolina taxable income computed as follows:

Taxable Years Beginning                                       Tax

In 2022                                                                   4.99%

In 2023                                                                   4.75%4.5%

In 2024                                                                   4.6%3.99%

In 2025                                                                   4.5%3.49%

In 2026                                                                   4.25%2.99%

After 2026                                                              3.99%.2.49%.

SECTION 2.  This act is effective for taxable years beginning on or after January 1, 2023.