North Carolina Lawmakers to Consider Personal Income Tax Cut Plan

North Carolina lawmakers say they hope to pass a long-delayed budget in the next few days, featuring a new proposal to reduce the state’s personal income tax.

More than two months into the new fiscal year, North Carolina still doesn’t have a state budget, and while lawmakers said last month they reached a tax deal, details had not been disclosed until now.

State Rep. John Bradford (R), a senior chair of the North Carolina House’s Finance Committee, told Bloomberg Tax that the 2023 conference budget would move up scheduled personal income tax rate reductions by one year, ...