North Carolina § 105-153 - 10. (Repealed effective for taxable years beginning on or after January 1, 2018) Credit for children.

§ 105-153. 10. (Repealed effective for taxable years beginning on or after January 1, 2018) Credit for children.

Credit. - A taxpayer who is allowed a federal child tax credit under section 24 of the Code for the taxable year is allowed a credit against the tax imposed by this Part for each dependent child for whom the taxpayer is allowed the federal credit. The amount of credit allowed under this section for the taxable year is equal to the amount listed in the table below based on the taxpayer's adjusted gross income, as calculated under the Code: Limitations. - A nonresident or part-year resident who claims the credit allowed by this section shall reduce the amount of the credit by multiplying it by the fraction calculated under G.S. 105-134.5(b) or (c), as appropriate. The credit allowed under this section may not exceed the amount of tax imposed by this Part for the taxable year reduced by the sum of all credits allowed, except payments of tax made by or on behalf of the taxpayer. Filing Status AGI Credit Amount Married, filing jointly Up to $40,000 $125.00 Over $40,000 Up to $100,000 $100.00 Over $100,000 0 Head of Household Up to $32,000 $125.00 Over $32,000 Up to $80,000 $100.00 Over $80,000 0 Single Up to $20,000 $125.00 Over $20,000 Up to $50,000 $100.00 Over $50,000 0 Married, filing separately Up to $20,000 $125.00 Over $20,000 Up to $50,000 $100.00 Over $50,000 0. History (1995, c. 42, s. 3; 1998-98, s. 69; 2001-424, s. 34.20(a); 2002-126, s. 30B.2(a), (b); 2003-284, s. 39B.2; 2013-316, s. 1.1(a), (e).) Delayed Repeal of Section. - Session Laws 2017-57, s. 38.4(b), repealed this section for taxable years beginning on or after January 1, 2018. Editor's note. - This section was former G.S. 105-151.24 . It was recodified as G.S. 105-153.10 by Session Laws 2013-316, s. 1.1(a), effective for taxable years beginning on or after January 1, 2014. For provisions effective for taxable years beginning before January 1, 2014, see G.S. 105-151.24 . Session Laws 2013-316, s. 9(a), provides: "This act does not affect the rights or liabilities of the State, a taxpayer, or another person arising under a statute amended or repealed by this act before the effective date of its amendment or repeal; nor does it affect the right to any refund or credit of a tax that accrued under the amended or repealed statute before the effective date of its amendment or repeal." Session Laws 2017-57, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2017.'" Session Laws 2017-57, s. 39.6, is a severability clause. Effect of Amendments. - Session Laws 2001-424, 34.20(b), as amended by Session Laws 2002-126, s. 30B.2(b), in this section as amended by Session Laws 2001-424, s. 34.20(a), effective for taxable years beginning on or after January 1, 2004, substituted "one hundred dollars ($100.00)" for "seventy-five dollars ($75.00)" in the first paragraph. Session Laws 2003-284, s. 39B.2, effective for taxable years beginning on or after January 1, 2003, designated the previously undesignated provisions of the section as subsections (a) and (b); in subsection (a), added "Credit. - " at the beginning, inserted "who is allowed a federal child tax credit under section 24 of the Code for the taxable year and" following "An individual," and substituted "is allowed the federal credit" for "was allowed to deduct a personal exemption under section 151(c)(1)(B) of the code"; and in subsection (b), added "Limitations. - " at the beginning. Session Laws 2013-316, s. 1.1(e), effective for taxable years beginning on or after January 1, 2014, rewrote subsection (a).