STATE ENACTS NCACPA POLICY PRIORITIES

Following months of negotiations, Governor Roy Cooper signed into law a compromise budget bill that included several policy priorities championed by NCACPA. The 2021 Appropriations Act (Session Law 2021-180) replaced the state’s flat 10% late tax payment penalty with a graduated penalty of 2% per month up to an aggregate cap of 10%. The Act also corrected an unintended consequence of decoupling from Section 163(j) provisions in the federal CARES Act and included more than $1 million in funding for financial literacy education. 

November 2021