Form 2106 for Raleigh North Carolina 2024-2025

Form 2106 for Raleigh North Carolina: What You Should Know

State Tax Deduction for ACTOR EXAMPLES: 2022 North Carolina State Tax Deduction for Artist 2022: North Carolina State Tax Deduction for Actor. Section 106 of the Act of March 3, 1913 (commonly referred to as the “Act of March 3, 1913”), provides: “The following persons shall be allowed a deduction ... from the person's income for the year for expenses ... incurred in the performance of their services as actors or singers in the State of North Carolina : “(a) actors or singers. “ (b) a resident of North Carolina.” Section (c): “A deduction allowed under this section shall not exceed 25 percent of the total gross income of the taxpayer for the tax year.” This section provides an additional North Carolina employee tax deduction which is based on a percentage of your gross income. The percentage for an employee earning 80,000 per year is 90%. Form SQQ–R2, North Carolina Revenue Return for Actor or Composer, 2E or 3E. If your North Carolina income is 100,000 or less (except for an employee with a gross income from 300,000 or more) you may qualify for the SQQ–R2. On Form SQQ–R2, enter “Entertainment” under Income from Schedule W, line 16 to include this allowance, even if the total amount of entertainment expenses is 75 or less. Form SQQ–R2-T, North Carolina Form W—Entertainment Allowance for Actor- Composer. If your North Carolina income is 600,000 or more you may qualify for the forms SQQ–R3 and SQQ–R4. NQQ-R3 : “Entertainment” under Income from Schedule W, line 16 to include this allowance. 600,000 or more. If your income is less than 600,000 (unless your tax bracket is more than 28%) you may choose the forms SQQ–R2 and SQQ–R4; otherwise you may choose the forms SQQ–R2 and SQQ–R4-T. N.C. Gen. Stat.

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