House Passes Bill to Help Small Businesses Give to Nonprofits

The N.C. House of Representatives recently passed a bill recommended by the N.C. Center for Nonprofits. This will make it easier for North Carolina small businesses to give to nonprofits. Currently, North Carolina companies that give generously to nonprofits don’t get full credit for their charitable contributions on their state taxes. The bill (H.B. 886) would make the N.C. corporate tax deduction for the same as the federal deduction. Thanks to Rep. Tim Moffitt (R-Buncombe), Rep.

Expanding Charitable Deduction Could Help Nonprofits and Businesses

In 2011, the N.C. House of Representatives overwhelmingly passed H.B. 886, which would bring the North Carolina corporate tax deduction for charitable contributions into conformance with federal law. This would help more small businesses contribute to nonprofits. The N.C. Center for Nonprofits encourages the N.C. Senate to pass this bill during the 2012 short session.