Biennial Tax Expenditure Report

In compliance with the requirements of Section 105-256 of the General Statutes of North Carolina, the Department of Revenue prepares this report of tax expenditures contained in the Revenue Laws of North Carolina (except Subchapter II) on a biennial basis. A "tax expenditure" is an exemption, an exclusion, a deduction, an allowance, a credit, a refund, a preferential tax rate, or another device that reduces the amount of tax revenue that would otherwise be available to the State. The Biennial Tax Expenditure Report is currently prepared by the Department of Revenue's Financial Services Division, Revenue Research Section.