North Carolina legislation · 2025-2026 Session
North Carolina H14: Gambling Loss Tax Deduct, NC Sound Money Act.
Status: Introduced, June 25, 2025
What the bill says
An act to allow a state income tax deduction for gambling losses.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO ALLOW A STATE INCOME TAX DEDUCTION FOR GAMBLING LOSSES. The General Assembly of North Carolina enacts: SECTION 1. G.S. 105-153.5(a)(2) reads as rewritten: "(a) Deduction Amount. - In calculating North Carolina taxable income, a taxpayer may deduct from adjusted gross income either the standard deduction amount provided in subdivision (1) of this subsection or the itemized deduction amount provided in subdivision (2) of this subsection. The deduction amounts are as follows: ... (2) Itemized deduction amount. - An amount equal to the sum of the items listed in this subdivision. The amounts allowed under this subdivision are not subject to the overall limitation on itemized deductions under section 68 of the Code: ... e. The amount allowed as a deduction for wagering losses under section 165(d) of the Code, to the extent the losses are not deducted in arriving at adjusted gross income." SECTION 2. This act is effective for taxable years beginning on or after January 1, 2024. *H14-v-1*
Sponsors
- Paré, Erin (R, 37) · primary sponsor
- Tyson, Steve (R, 3) · primary sponsor
- Kidwell, Keith (R, 79) · primary sponsor
- Winslow, Matthew (R, 7) · primary sponsor
- Brown, Terry M. (D, 92)
- Cairns, Celeste C. (R, 13)
- Carver, Todd (R, 95)
- Cohn, Bryan (D, 32)
- Gable, Wyatt (R, 14)
- Goodwin, Edward C. (R, 1)
- Humphrey, Chris (R, 12)
- Johnson, Todd (R, 35)
Latest actions
- : Re-ref Com On Finance
- : Withdrawn From Cal
- : Added to Calendar
- : Cal Pursuant Rule 36(b)
- : Reptd Fav Com Substitute
- : Re-ref Com On Rules, Calendar, and Operations of the House
- : Withdrawn From Com
- : Re-ref Com On Finance
- : Reptd Fav
- : Re-ref to the Com on Commerce and Economic Development, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House
Subjects: INVESTMENTS, CRYPTOCURRENCY & NFTS, Higher education-research funding., PRECIOUS METALS, PUBLIC, TAX DEDUCTIONS, GAMING, TAXATION
Common questions
- What is H14?
- H14 is a bill in the North Carolina Legislature (2025-2026 Session): Gambling Loss Tax Deduct, NC Sound Money Act.
- What does H14 do?
- In its own words: An act to allow a state income tax deduction for gambling losses.
- What is the status of H14?
- Introduced as of June 25, 2025. Latest action: Re-ref Com On Finance (June 25, 2025).
- Who sponsored H14?
- Paré, Erin (R, 37), with 11 co-sponsors.
- Where is the official record for H14?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/H14
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.