North Carolina legislation · 2025-2026 Session
North Carolina S795: Modify Taxation of 1031 Exchanges.
Status: In committee, April 22, 2026
What the bill says
An act to modify the taxation of certain amounts of gain in a 1031 exchange.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO MODIFY THE TAXATION OF CERTAIN AMOUNTS OF GAIN IN A 1031 EXCHANGE. The General Assembly of North Carolina enacts: SECTION 1. G.S. 105-130.5(b) reads as rewritten: "(b) The following deductions from federal taxable income shall be made in determining State net income: ... (33) Any amount included in federal taxable income as non-like-kind property received in an exchange under section 1031 of the Code to the extent it does not exceed the taxpayer's basis in the property sold." SECTION 2. G.S. 105-153.5(b) reads as rewritten: "(b) Other Deductions. - In calculating North Carolina taxable income, a taxpayer may deduct from the taxpayer's adjusted gross income any of the following items that are included in the taxpayer's adjusted gross income: ... (17) Any amount included in federal taxable income as non-like-kind property received in an exchange under section 1031 of the Code to the extent it does not exceed the taxpayer's basis in the property sold." SECTION 3. This act is effective for taxable years beginning on or after January 1, 2026. *DRS15375-NIf-175*
Sponsors
- Burgin, Jim (R, 12) · primary sponsor
- Applewhite, Val (D, 19)
- Blue, Dan (D, 14)
- Bradley, Woodson (D, 42)
Latest actions
- : Ref To Com On Rules and Operations of the Senate
- : Passed 1st Reading
- : Filed
Subjects: SECURITIES, INVESTMENTS, Higher education-research funding., PUBLIC, TAXATION, TAXES, INTANGIBLE
Common questions
- What is S795?
- S795 is a bill in the North Carolina Legislature (2025-2026 Session): Modify Taxation of 1031 Exchanges.
- What does S795 do?
- In its own words: An act to modify the taxation of certain amounts of gain in a 1031 exchange.
- What is the status of S795?
- In committee as of April 22, 2026. Latest action: Ref To Com On Rules and Operations of the Senate (April 22, 2026).
- Who sponsored S795?
- Burgin, Jim (R, 12), with 3 co-sponsors.
- Where is the official record for S795?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S795
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.