1 A BILL TO BE ENTITLED 2 AN ACT TO PROVIDE EQUAL INCOME TAX TREATMENT OF GOVERNMENT 3 RETIREES’ BENEFITS.
4 The General Assembly of North Carolina enacts: 5 SECTION 1. G.S. 105-153.3 is amended by adding a new subdivision to read: 6 “(15a) Retirement plan. – A written retirement plan established by the employer to 7 provide payments to an employee or the beneficiary of an employee after the 8 end of the employee’s employment with the employer where the right to 9 receive the payments is based upon the employment relationship. With 10 respect to a self-employed individual or the beneficiary of a self-employed 11 individual, the term means a written retirement plan established by the 12 individual to provide payments to the individual or the beneficiary of the 13 individual after the end of the self-employment. In addition, the term 14 includes an individual retirement plan as defined in the Code and any plan 15 treated as an individual retirement plan under the Code.
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