NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 702

HOUSE BILL 448

 

 

AN ACT TO ESTABLISH A MINIMUM BALANCE OF INCOME TAX DUE TO BE PAID AND A MINIMUM AMOUNT OF INCOME TAX OVERPAYMENT TO BE REFUNDED.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 105-157 is hereby amended by changing the period at the end of subsection (a) thereof to a semicolon and adding after the semicolon the following:

"provided, that in the case of an individual, if after all credits allowed by this Article, the balance of tax due at the time of filing the return is less than one dollar ($1.00), payment of such balance need not be made."

Sec. 2.  G.S. 105-163.16 is amended by striking from the fifth line of subsection (c) thereof the words and figures "fifty cents (50¢) or less" and substituting therefor "less than one dollar ($1.00)".

Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4.  This Act shall be effective for income years beginning on or after January 1, 1967.

In the General Assembly read three times and ratified, this the 6th day of June, 1967.