Welcome

North Carolina Lawmakers OK Business Tax Credit, Interest Waiver (1)

May 2, 2020, 6:13 PMUpdated: May 2, 2020, 8:20 PM

North Carolina employers would get a tax credit against their unemployment insurance payments under a coronavirus relief package lawmakers are sending Gov. Roy Cooper (D).

Lawmakers unanimously approved a bill Saturday that would allow businesses to take a credit equivalent to their state unemployment insurance fund contributions for this year.

Creation of the credit means that between $200 million and $240 million less would be going to the trust fund used to pay benefits to idled workers. The bill also would provide additional adjustments to unemployment compensation laws in response to the unprecedented number of claims being filed because ...

To read the full article log in. To learn more about a subscription click here.