1933 public laws – Ch.445 Sec.325
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CHAPTER 445 AN ACT TO RAISE REVENUE. The General Assembly of North Carolina do enact: ARTICLE I SCHEDULE A INHERITANCE TAX
Credit for taxes in case of taxpayers other than residents of the State. Whenever a taxpayer other than a resident of the State has become liable to income tax to the State or country where he resides upon his net income for the taxable year, derived from sources within this State and subject to taxation under this article, the Commissioner of Revenue shall credit the amount of income tax payable by him under this article with such proportion of the tax so payable by him to the state or country where he resides as his income subject to taxation under this article bears to his entire income upon which the tax so payable to such other state or country was imposed: Provided, that such credit shall be allowed only if the laws of said state or country -1 grant a substantially similar credit to residents of this State subject to income tax under such laws, or -2 impose a tax upon the personal incomes of its residents derived from sources in this State and exempt from taxation the personal incomes of residents of this State. No credit shall be allowed against the amount of the tax on any income taxable under this article which is exempt from taxation under the laws of such other state or country.