North Carolina bill aims to get main street startups tax deferrals EmailFacebook

A new bill introduced in the North Carolina Senate is intended to make it easier to start new businesses in the state.

The Right to Start Act, introduced by senators Jay Chaudhuri and Todd Johnson, would defer the payment of business taxes for young companies with net incomes of less than $5,000.

The bill’s language also encourages the state government to increase the use of young contractors in operation for less than five years, and it asks the state to track and report on the participation of those businesses in North Carolina government contracts.