North Carolina Budget Allows PPP Deductions, Reduces Tax Rates, Establishes SALT Workaround
The long-awaited 2021-2023 biennial North Carolina budget was passed by the General Assembly and signed by Governor Roy Cooper on November 18, 2021. Media outlets have focused on high-profile provisions, such as raises for teachers and other state employees. Other provisions - including historic tax cuts - immediately impact all North Carolina taxpayers.