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  • Writer's pictureDavid Laurence

Tax Bill Approved by N.C. House Saves Taxpayers $18 Million With Increased Medical Expense Deduction

Legislation to reduce the threshold amount for the North Carolina medical and dental expense deduction from 10% to 7.5% for the 2019 and 2020 taxable years passed the state House of Representatives on Tuesday by a 118-0 vote.

Senate Bill 622 Reduce Threshold/Medical Expense Deduction updates the state’s revenue code for purposes of medical and dental expense deductions only to January 1, 2020. The higher medical and dental expense threshold is expected to save taxpayers approximately $18 million each year.

The legislation ‘couples’ North Carolina’s revenue code with a federal tax provision approved by the U.S. Congress and signed by President Trump in the Taxpayer Certainty and Disaster Relief Act of 2019.

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